Dynamic Technology Lab Private Ltd Makes New Investment in Valvoline Inc. (NYSE:VVV)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Valvoline Inc. (NYSE:VVV) in the third quarter, HoldingsChannel reports. The institutional investor purchased 38,123 shares of the basic materials company’s stock, valued at approximately $1,596,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Algert Global LLC boosted its holdings in shares of Valvoline by 83.3% in the third quarter. Algert Global LLC now owns 112,185 shares of the basic materials company’s stock worth $4,695,000 after buying an additional 50,980 shares during the last quarter. Cerity Partners LLC raised its position in Valvoline by 9.2% in the third quarter. Cerity Partners LLC now owns 29,498 shares of the basic materials company’s stock worth $1,234,000 after acquiring an additional 2,482 shares during the period. Citigroup Inc. boosted its stake in shares of Valvoline by 15.0% during the 3rd quarter. Citigroup Inc. now owns 114,598 shares of the basic materials company’s stock worth $4,796,000 after acquiring an additional 14,962 shares during the last quarter. Raymond James Trust N.A. grew its position in shares of Valvoline by 4.1% during the 3rd quarter. Raymond James Trust N.A. now owns 13,871 shares of the basic materials company’s stock valued at $581,000 after acquiring an additional 540 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Valvoline by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,625,842 shares of the basic materials company’s stock worth $68,041,000 after purchasing an additional 19,877 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on VVV shares. Morgan Stanley lowered their target price on Valvoline from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Stephens began coverage on Valvoline in a research note on Tuesday, October 15th. They set an “overweight” rating and a $49.00 price objective for the company. Mizuho reduced their target price on shares of Valvoline from $50.00 to $46.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Wells Fargo & Company lowered their price target on shares of Valvoline from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, Baird R W raised shares of Valvoline to a “strong-buy” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $46.25.

Valvoline Trading Up 2.4 %

Shares of VVV opened at $39.50 on Tuesday. The firm has a market cap of $5.09 billion, a P/E ratio of 24.38 and a beta of 1.46. The company has a debt-to-equity ratio of 5.77, a current ratio of 0.72 and a quick ratio of 0.61. Valvoline Inc. has a 1 year low of $33.86 and a 1 year high of $48.26. The company has a 50 day simple moving average of $41.31 and a two-hundred day simple moving average of $41.87.

Valvoline announced that its Board of Directors has initiated a share repurchase plan on Tuesday, July 30th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Valvoline Company Profile

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.