Principal Financial Group Inc. Has $12.61 Million Position in Valvoline Inc. (NYSE:VVV)

Principal Financial Group Inc. cut its position in Valvoline Inc. (NYSE:VVV) by 30.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 301,196 shares of the basic materials company’s stock after selling 129,566 shares during the quarter. Principal Financial Group Inc.’s holdings in Valvoline were worth $12,605,000 as of its most recent SEC filing.

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

Valvoline Price Performance

Valvoline stock opened at $42.32 on Friday. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 34.38 and a beta of 1.46. Valvoline Inc. has a 52-week low of $33.86 and a 52-week high of $48.26. The company has a debt-to-equity ratio of 10.57, a quick ratio of 0.62 and a current ratio of 0.73. The stock’s 50 day moving average price is $41.37 and its two-hundred day moving average price is $42.03.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Royal Bank of Canada lowered their target price on Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a research report 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 objective on the stock. Wells Fargo & Company decreased their target price on shares of Valvoline from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Baird R W upgraded shares of Valvoline to a “strong-buy” rating in a report on Thursday, August 15th. Finally, Robert W. Baird assumed coverage on shares of Valvoline in a research note on Thursday, August 15th. They issued an “outperform” rating and a $48.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.75.

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.