Valvoline Inc. (NYSE:VVV) Shares Purchased by Quest Partners LLC

Quest Partners LLC grew its stake in shares of Valvoline Inc. (NYSE:VVV) by 110.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,711 shares of the basic materials company’s stock after purchasing an additional 21,907 shares during the quarter. Quest Partners LLC’s holdings in Valvoline were worth $1,746,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sculptor Capital LP lifted its position in Valvoline by 187.6% during the 2nd quarter. Sculptor Capital LP now owns 1,879,500 shares of the basic materials company’s stock worth $81,194,000 after acquiring an additional 1,226,000 shares in the last quarter. Geneva Capital Management LLC acquired a new position in shares of Valvoline in the 3rd quarter valued at approximately $32,670,000. Fiera Capital Corp purchased a new position in shares of Valvoline during the 3rd quarter valued at approximately $25,538,000. F M Investments LLC acquired a new stake in shares of Valvoline during the second quarter worth approximately $11,992,000. Finally, Hantz Financial Services Inc. bought a new stake in shares of Valvoline in the second quarter worth $9,974,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Valvoline Price Performance

Shares of VVV opened at $42.33 on Tuesday. The company has a debt-to-equity ratio of 10.57, a current ratio of 0.73 and a quick ratio of 0.62. The company has a market cap of $5.46 billion, a P/E ratio of 34.41 and a beta of 1.46. Valvoline Inc. has a 12 month low of $33.86 and a 12 month high of $48.26. The stock has a fifty day moving average price of $41.37 and a 200 day moving average price of $42.03.

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

Wall Street Analyst Weigh In

VVV has been the subject of several recent analyst reports. Baird R W raised shares of Valvoline to a “strong-buy” rating in a report on Thursday, August 15th. Royal Bank of Canada lowered their price objective on Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company reduced their target price on Valvoline from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Stephens initiated coverage on Valvoline in a report on Tuesday, October 15th. They issued an “overweight” rating and a $49.00 price target for the company. Finally, Robert W. Baird started coverage on Valvoline in a research note on Thursday, August 15th. They set an “outperform” rating and a $48.00 price objective on the stock. One 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’s stock. According to data from MarketBeat.com, Valvoline 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.