Comerica Bank Has $2.51 Million Position in Valvoline Inc. (NYSE:VVV)

Comerica Bank cut its holdings in shares of Valvoline Inc. (NYSE:VVVGet Rating) by 2.5% in the third quarter, Holdings Channel reports. The institutional investor owned 88,866 shares of the basic materials company’s stock after selling 2,264 shares during the quarter. Comerica Bank’s holdings in Valvoline were worth $2,510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Ronald Blue Trust Inc. bought a new stake in shares of Valvoline during the second quarter valued at approximately $28,000. Larson Financial Group LLC bought a new stake in shares of Valvoline during the second quarter worth $26,000. Quadrant Capital Group LLC lifted its stake in shares of Valvoline by 108.9% during the second quarter. Quadrant Capital Group LLC now owns 1,055 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 550 shares during the period. Rosenberg Matthew Hamilton acquired a new position in shares of Valvoline during the second quarter valued at $41,000. Finally, Wipfli Financial Advisors LLC acquired a new position in Valvoline in the third quarter valued at about $43,000. 90.20% of the stock is currently owned by institutional investors and hedge funds.

Valvoline Trading Up 0.3 %

Shares of VVV opened at $34.79 on Thursday. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of 14.74 and a beta of 1.34. Valvoline Inc. has a 52-week low of $24.40 and a 52-week high of $36.65. The company has a debt-to-equity ratio of 4.97, a quick ratio of 1.73 and a current ratio of 1.76. The business’s fifty day moving average is $32.76 and its 200-day moving average is $30.19.

Valvoline (NYSE:VVVGet Rating) last released its quarterly earnings results on Tuesday, November 15th. The basic materials company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. Valvoline had a return on equity of 170.52% and a net margin of 13.99%. The firm had revenue of $335.40 million for the quarter, compared to analyst estimates of $794.02 million. Equities analysts anticipate that Valvoline Inc. will post 1.13 EPS for the current fiscal year.

Valvoline Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Friday, December 2nd were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Thursday, December 1st. Valvoline’s dividend payout ratio (DPR) is currently 21.19%.

Insider Buying and Selling

In other news, CAO Michael S. Ryan sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $32.73, for a total value of $29,457.00. Following the completion of the transaction, the chief accounting officer now directly owns 8,258 shares of the company’s stock, valued at $270,284.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Thomas A. Gerrald II sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $32.93, for a total transaction of $164,650.00. Following the transaction, the senior vice president now directly owns 21,534 shares of the company’s stock, valued at $709,114.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Michael S. Ryan sold 900 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $32.73, for a total value of $29,457.00. Following the completion of the sale, the chief accounting officer now directly owns 8,258 shares in the company, valued at $270,284.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,786 shares of company stock valued at $514,611. 0.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Citigroup increased their price target on Valvoline from $35.00 to $39.00 in a report on Wednesday, November 16th. StockNews.com upgraded Valvoline from a “sell” rating to a “hold” rating in a research note on Friday, January 6th. Finally, Royal Bank of Canada started coverage on Valvoline in a research note on Tuesday, December 6th. They issued an “outperform” rating and a $39.00 price target for the company.

Valvoline Company Profile

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Valvoline Inc provides automotive services through retail stores in the United States and Canada. It offers cabin air filter, battery replacement, and tire rotation services for various vehicles. As of September 30, 2022, it operated 1,700 system-wide service center stores. The company was founded in 1866 and is headquartered in Lexington, Kentucky.

See Also

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Institutional Ownership by Quarter for Valvoline (NYSE:VVV)

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