Valvoline Inc. (NYSE:VVV) Stock Position Raised by Meeder Asset Management Inc.

Meeder Asset Management Inc. increased its holdings in shares of Valvoline Inc. (NYSE:VVV) by 76.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 28,162 shares of the basic materials company’s stock after buying an additional 12,164 shares during the period. Meeder Asset Management Inc.’s holdings in Valvoline were worth $1,179,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of VVV. Sculptor Capital LP lifted 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 buying an additional 1,226,000 shares during the last quarter. Geneva Capital Management LLC bought a new stake in Valvoline in the 3rd quarter valued at about $32,670,000. Fiera Capital Corp bought a new stake in Valvoline in the 3rd quarter valued at about $25,538,000. F M Investments LLC acquired a new position in Valvoline during the 2nd quarter valued at about $11,992,000. Finally, Hantz Financial Services Inc. bought a new position in Valvoline in the 2nd quarter worth about $9,974,000. Institutional investors own 96.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VVV. Robert W. Baird began coverage on Valvoline in a research report on Thursday, August 15th. They set an “outperform” rating and a $48.00 price objective for the company. Baird R W upgraded Valvoline to a “strong-buy” rating in a research report on Thursday, August 15th. Stephens began coverage on Valvoline in a report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 price target on the stock. Royal Bank of Canada reduced their price objective on shares of Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Wells Fargo & Company lowered 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. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $47.75.

Valvoline Price Performance

NYSE:VVV opened at $38.66 on Wednesday. Valvoline Inc. has a 52-week low of $33.86 and a 52-week high of $48.26. The company has a quick ratio of 0.62, a current ratio of 0.73 and a debt-to-equity ratio of 10.57. The firm has a market cap of $4.98 billion, a P/E ratio of 31.43 and a beta of 1.46. The business’s 50-day moving average price is $41.44 and its 200 day moving average price is $42.03.

Valvoline announced that its board has approved a stock 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 purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are typically 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.