Norges Bank Invests $54.11 Million in Valvoline Inc. (NYSE:VVV)

Norges Bank bought a new position in shares of Valvoline Inc. (NYSE:VVV) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,495,692 shares of the basic materials company’s stock, valued at approximately $54,114,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VVV. TimesSquare Capital Management LLC boosted its stake in shares of Valvoline by 766.6% during the 4th quarter. TimesSquare Capital Management LLC now owns 644,980 shares of the basic materials company’s stock worth $23,335,000 after buying an additional 570,550 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Valvoline during the fourth quarter worth about $17,340,000. Geneva Capital Management LLC boosted its position in Valvoline by 56.3% during the fourth quarter. Geneva Capital Management LLC now owns 1,220,453 shares of the basic materials company’s stock valued at $44,156,000 after purchasing an additional 439,809 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Valvoline by 28.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,577,313 shares of the basic materials company’s stock valued at $57,067,000 after purchasing an additional 349,778 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Valvoline in the fourth quarter valued at approximately $9,420,000. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Julie Marie O’daniel sold 6,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $37.41, for a total transaction of $224,460.00. Following the sale, the insider now directly owns 15,305 shares of the company’s stock, valued at approximately $572,560.05. This represents a 28.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

Valvoline Stock Performance

NYSE:VVV opened at $34.57 on Friday. The stock has a 50 day simple moving average of $36.64 and a 200 day simple moving average of $38.41. The stock has a market cap of $4.39 billion, a P/E ratio of 16.54 and a beta of 1.32. Valvoline Inc. has a 1-year low of $32.99 and a 1-year high of $48.27. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 4.39.

Valvoline (NYSE:VVV) last announced its earnings results on Thursday, February 6th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Valvoline had a net margin of 16.34% and a return on equity of 143.64%. Research analysts anticipate that Valvoline Inc. will post 1.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VVV. Morgan Stanley reiterated an “equal weight” rating and set a $38.00 price objective (down previously from $42.00) on shares of Valvoline in a research note on Tuesday, January 21st. TD Cowen started coverage on shares of Valvoline in a research report on Friday. They set a “buy” rating and a $40.00 price target on the stock. TD Securities began coverage on shares of Valvoline in a research report on Friday. They issued a “buy” rating and a $40.00 price objective for the company. Mizuho dropped their target price on shares of Valvoline from $46.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Finally, Stifel Nicolaus assumed coverage on shares of Valvoline in a research note on Friday, December 20th. They issued a “hold” rating and a $42.00 target price for the company. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.67.

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.