JPMorgan Chase & Co. Lowers Stake in Valvoline Inc. (NYSE:VVV)

JPMorgan Chase & Co. lessened its position in Valvoline Inc. (NYSE:VVV) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 550,896 shares of the basic materials company’s stock after selling 9,738 shares during the period. JPMorgan Chase & Co.’s holdings in Valvoline were worth $23,055,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wasatch Advisors LP raised its holdings in Valvoline by 16.8% in the 3rd quarter. Wasatch Advisors LP now owns 9,738,142 shares of the basic materials company’s stock valued at $407,541,000 after acquiring an additional 1,398,310 shares during the last quarter. Sculptor Capital LP increased its stake in Valvoline by 187.6% in the second quarter. Sculptor Capital LP now owns 1,879,500 shares of the basic materials company’s stock valued at $81,194,000 after purchasing an additional 1,226,000 shares during the last quarter. Geneva Capital Management LLC acquired a new position in Valvoline in the third quarter valued at $32,670,000. Fiera Capital Corp purchased a new position in Valvoline during the third quarter worth about $25,538,000. Finally, Bank of Montreal Can boosted its stake in Valvoline by 438.7% in the 3rd quarter. Bank of Montreal Can now owns 308,699 shares of the basic materials company’s stock worth $12,919,000 after buying an additional 251,398 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Valvoline Stock Up 0.3 %

Shares of NYSE VVV opened at $34.92 on Thursday. The stock has a fifty day moving average price of $38.85 and a 200 day moving average price of $41.04. The company has a current ratio of 0.72, a quick ratio of 0.61 and a debt-to-equity ratio of 5.77. 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 $4.48 billion, a P/E ratio of 21.56 and a beta of 1.45.

Insider Transactions at Valvoline

In other news, Director Charles M. Sonsteby bought 10,000 shares of Valvoline stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $39.50 per share, with a total value of $395,000.00. Following the completion of the transaction, the director now owns 26,437 shares in the company, valued at approximately $1,044,261.50. This trade represents a 60.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Robert Travis Dobbins sold 1,914 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $40.00, for a total transaction of $76,560.00. Following the sale, the chief technology officer now directly owns 14,956 shares of the company’s stock, valued at approximately $598,240. The trade was a 11.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Stephens assumed coverage on shares of Valvoline in a research note on Tuesday, October 15th. They set an “overweight” rating and a $49.00 price objective for the company. Robert W. Baird dropped their price target on shares of Valvoline from $48.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Royal Bank of Canada decreased their price target on shares of Valvoline from $52.00 to $46.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Wells Fargo & Company dropped their price objective on Valvoline from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Stifel Nicolaus assumed coverage on Valvoline in a report on Friday, December 20th. They issued a “hold” rating and a $42.00 target price on the stock. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Valvoline currently has an average rating of “Moderate Buy” and a consensus price target of $45.33.

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.