MQS Management LLC Takes Position in Valvoline Inc. (NYSE:VVV)

MQS Management LLC bought a new stake in Valvoline Inc. (NYSE:VVV) during the third quarter, HoldingsChannel.com reports. The fund bought 5,475 shares of the basic materials company’s stock, valued at approximately $229,000.

A number of other hedge funds have also made changes to their positions in the business. Geneva Capital Management LLC purchased a new position in shares of Valvoline in the 3rd quarter valued at $32,670,000. Victory Capital Management Inc. raised its stake in shares of Valvoline by 6.5% in the 3rd quarter. Victory Capital Management Inc. now owns 28,919 shares of the basic materials company’s stock valued at $1,210,000 after acquiring an additional 1,761 shares during the period. Aigen Investment Management LP purchased a new position in shares of Valvoline in the 3rd quarter valued at $236,000. GSA Capital Partners LLP purchased a new position in shares of Valvoline in the 3rd quarter valued at $1,178,000. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Valvoline by 0.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 47,602 shares of the basic materials company’s stock valued at $1,992,000 after acquiring an additional 313 shares during the period. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on VVV. Wells Fargo & Company cut their target price on shares of Valvoline from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Citigroup lifted their price target on shares of Valvoline from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Robert W. Baird began coverage on shares of Valvoline in a research note on Thursday, August 15th. They set an “outperform” rating and a $48.00 price target on the stock. Stephens began coverage on shares of Valvoline in a research note on Tuesday, October 15th. They set an “overweight” rating and a $49.00 price target on the stock. Finally, Baird R W raised shares of Valvoline to a “strong-buy” rating in a research note on Thursday, August 15th. Two investment 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.75.

Valvoline Price Performance

Shares of VVV stock opened at $42.29 on Friday. The firm has a market cap of $5.45 billion, a P/E ratio of 34.38 and a beta of 1.46. The company has a debt-to-equity ratio of 10.57, a current ratio of 0.73 and a quick ratio of 0.62. Valvoline Inc. has a 1-year low of $33.86 and a 1-year high of $48.26. The firm has a fifty day moving average of $41.31 and a two-hundred day moving average of $42.04.

Valvoline declared that its Board of Directors has authorized a stock buyback program on Tuesday, July 30th that authorizes the company to buyback $400.00 million in 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 generally an indication that the company’s board of directors believes its shares are undervalued.

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.