Valvoline Inc. (NYSE:VVV) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its holdings in Valvoline Inc. (NYSE:VVV) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,570 shares of the basic materials company’s stock after selling 1,662 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.10% of Valvoline worth $5,213,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in VVV. UMB Bank n.a. increased its holdings in Valvoline by 92.1% in the 3rd quarter. UMB Bank n.a. now owns 630 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 302 shares in the last quarter. Blue Trust Inc. lifted its position in Valvoline by 57.9% during the 2nd quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 267 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Valvoline in the 2nd quarter worth approximately $34,000. Mather Group LLC. grew its position in Valvoline by 1,617.0% in the second quarter. Mather Group LLC. now owns 807 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 760 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Valvoline by 46.5% during the third quarter. GAMMA Investing LLC now owns 1,465 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 465 shares during the period. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Analyst Ratings Changes

VVV has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of Valvoline from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Stephens assumed coverage on Valvoline in a research note on Tuesday, October 15th. They issued an “overweight” rating and a $49.00 price target on the stock. Robert W. Baird assumed coverage on Valvoline in a research note on Thursday, August 15th. They set an “outperform” rating and a $48.00 price objective for the company. Royal Bank of Canada cut their target price on Valvoline from $54.00 to $48.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Baird R W raised shares of Valvoline to a “strong-buy” rating in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Valvoline presently has an average rating of “Moderate Buy” and an average target price of $47.75.

Valvoline Stock Up 0.6 %

Shares of NYSE:VVV opened at $42.86 on Friday. The company’s fifty day moving average is $41.25 and its two-hundred day moving average is $42.03. The company has a debt-to-equity ratio of 10.57, a quick ratio of 0.62 and a current ratio of 0.73. Valvoline Inc. has a 1-year low of $33.86 and a 1-year high of $48.26. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 34.85 and a beta of 1.46.

Valvoline declared that its Board of Directors has initiated a share buyback program on Tuesday, July 30th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

About Valvoline

Valvoline Inc engages in the operation and franchising of vehicle service centers and retail stores in the United States and Canada. The company, through its service centers, provides fluid exchange for motor oil, transmission and differential fluid, and coolant; parts replacement for batteries, filters, wiper blades, and belts; and safety services, such as tire inflation and rotation, bulbs, and safety checks.