Atria Investments Inc Buys 3,424 Shares of Valvoline Inc. (NYSE:VVV)

Atria Investments Inc boosted its stake in shares of Valvoline Inc. (NYSE:VVV) by 19.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,682 shares of the basic materials company’s stock after buying an additional 3,424 shares during the period. Atria Investments Inc’s holdings in Valvoline were worth $866,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VVV. Tidal Investments LLC increased its holdings in shares of Valvoline by 97.6% during the first quarter. Tidal Investments LLC now owns 29,843 shares of the basic materials company’s stock valued at $1,330,000 after acquiring an additional 14,739 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Valvoline by 28.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 126,232 shares of the basic materials company’s stock valued at $5,453,000 after purchasing an additional 28,254 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Valvoline by 6.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,130,920 shares of the basic materials company’s stock worth $48,857,000 after buying an additional 68,340 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in shares of Valvoline by 22.8% in the second quarter. Texas Permanent School Fund Corp now owns 139,352 shares of the basic materials company’s stock worth $6,020,000 after buying an additional 25,885 shares in the last quarter. Finally, Mawer Investment Management Ltd. grew its holdings in shares of Valvoline by 40.5% during the second quarter. Mawer Investment Management Ltd. now owns 424,327 shares of the basic materials company’s stock valued at $18,331,000 after buying an additional 122,344 shares during the last quarter. Institutional investors own 96.13% of the company’s stock.

Valvoline Stock Performance

VVV opened at $42.32 on Monday. Valvoline Inc. has a 12-month low of $33.86 and a 12-month high of $48.26. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 34.41 and a beta of 1.46. The company has a current ratio of 0.73, a quick ratio of 0.62 and a debt-to-equity ratio of 10.57. The company’s 50 day moving average is $41.37 and its 200 day moving average is $42.03.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on VVV shares. Robert W. Baird began coverage on Valvoline in a research report on Thursday, August 15th. They issued an “outperform” rating and a $48.00 price objective on the stock. Royal Bank of Canada decreased 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. Baird R W raised shares of Valvoline to a “strong-buy” rating in a report on Thursday, August 15th. Stephens initiated coverage on shares of Valvoline in a research report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 price objective on the stock. Finally, Wells Fargo & Company cut 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. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $47.75.

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.