California Public Employees Retirement System Sells 20,705 Shares of Valvoline Inc. (NYSE:VVV)

California Public Employees Retirement System lowered its stake in Valvoline Inc. (NYSE:VVV – Get Rating) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 397,962 shares of the basic materials company’s stock after selling 20,705 shares during the period. California Public Employees Retirement System’s holdings in Valvoline were worth $12,993,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Valvoline by 12.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,816 shares of the basic materials company’s stock valued at $876,000 after purchasing an additional 2,965 shares in the last quarter. Teza Capital Management LLC bought a new stake in shares of Valvoline during the third quarter worth about $225,000. Oppenheimer Asset Management Inc. increased its position in shares of Valvoline by 38.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 56,171 shares of the basic materials company’s stock worth $1,834,000 after acquiring an additional 15,460 shares in the last quarter. Gabelli Funds LLC increased its position in shares of Valvoline by 6.5% during the third quarter. Gabelli Funds LLC now owns 262,810 shares of the basic materials company’s stock worth $6,660,000 after acquiring an additional 16,000 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Valvoline during the third quarter worth about $91,000. Institutional investors and hedge funds own 90.20% of the company’s stock.

Valvoline Price Performance

Shares of Valvoline stock opened at $38.55 on Monday. The firm has a market cap of $6.63 billion, a PE ratio of 16.47 and a beta of 1.37. Valvoline Inc. has a 12-month low of $24.40 and a 12-month high of $39.67. The company has a quick ratio of 1.81, a current ratio of 1.84 and a debt-to-equity ratio of 5.72. The company’s fifty day simple moving average is $34.61 and its two-hundred day simple moving average is $33.78.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Valvoline from a “sell” rating to a “hold” rating in a report on Thursday. Citigroup cut shares of Valvoline from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Friday, February 24th. Royal Bank of Canada boosted their target price on shares of Valvoline from $40.00 to $43.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Valvoline from $36.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, February 8th.

Insider Activity

In other news, SVP Heidi J. Matheys sold 5,823 shares of Valvoline stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $35.25, for a total transaction of $205,260.75. Following the sale, the senior vice president now owns 37,159 shares of the company’s stock, valued at approximately $1,309,854.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.99% of the company’s stock.

Valvoline Company Profile

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Valvoline, Inc engages in the production, marketing, and supply of engine and automotive maintenance products and services. It operates through the Retail Services segment. The Retail Services segment services the passenger car and light truck quick lube market in the US and Canada with preventive maintenance services done through company operated and independent franchise care stores.