On September 18, 2023, it was reported that First Hawaiian Bank has reduced its stake in Valvoline Inc. by 30.9% during the second quarter of the year. According to the company’s disclosure with the Securities and Exchange Commission (SEC), the bank now holds 13,378 shares of Valvoline, after selling 5,982 shares during this period. As of the most recent filing with the SEC, these holdings are valued at $502,000.
In related news, Director Vada O. Manager also sold 8,651 shares of Valvoline’s stock on August 21st in a transaction worth $290,154.54. The average price per share during this sale was $33.54. Following this transaction, Director Manager now possesses 5,269 shares of Valvoline’s stock with a value of $176,722.26.
Another insider who made a recent sale is SVP Robert Travis Dobbins who sold 1,700 shares on August 24th at an average price of $33.53 per share. This amounts to a total value of $57,001.00. After this transaction was completed, Senior Vice President Dobbins now owns 10,383 shares in the company with a value of $348,141.99.
These sales were disclosed in legal filings with the Securities & Exchange Commission (SEC), which can be accessed by interested parties through the SEC website.
It is worth noting that Director Vada O. Manager also conducted another transaction on August 21st where he sold an additional 8,651 shares at an average price of $33.54 per share for a total value of $290,154.54. Following this sale, Director Manager now directly holds 5,269 shares valued at $176,722.26.
Furthermore and within the past three months leading up to this report, insiders have purchased 17,839 shares of Valvoline’s stock with a value of $601,606. Conversely, they have sold 15,438 shares worth $522,502. This translates to insiders owning 0.99% of the company’s stock.
As an investment activity by a major bank and several insider transactions have taken place in recent months regarding Valvoline Inc., such information may be significant to shareholders and potential investors as it offers insights into the actions and sentiments of those within the company.
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Hedge Funds Show Interest in Valvoline Inc. as Financial Performance Exceeds Expectations
Valvoline Inc., a leading provider of automotive services and supplier of premium branded lubricants, has recently seen hedge funds buying and selling shares of the company. Norges Bank, for instance, purchased a new stake in Valvoline during the fourth quarter, leading to an investment worth approximately $60,299,000. Similarly, Two Sigma Investments LP acquired a new stake in Valvoline in the same quarter, amounting to around $38,511,000. FIL Ltd also increased its holdings in shares of Valvoline by an impressive 2,059.2% during the first quarter. This resulted in an ownership of 1,106,653 shares valued at $38,666,000 after acquiring an additional 1,055,401 shares.
Another prominent investor that saw a significant boost in its holdings is Price T Rowe Associates Inc. MD which accumulated 996,050 shares by lifting its holdings by 927.4% during the first quarter. The total worth of their stock now stands at $34,803,000 after gaining an additional 899,099 shares. Finally, Artemis Investment Management LLP joined the list by purchasing a new stake in Valvoline during the first quarter amounting to roughly $30,675,million. As per recent reports from Bloomberg.com which collate data from various sources indicate that approximately 92.03% of the stock is currently owned by institutional investors.
Equities research analysts have also weighed in on Valvoline’s performance lately. TheStreet released a research note on August 9th downgrading Valvoline from a “b” rating to a “c” rating. Citigroup also cut their target price for Valvoline from $41.00 to $38.00 and labeled it as neutral for the time being in their research report on August 10th.
On a more positive note though was Stephens’ coverage on Valvoline in a research report published on June 23rd. They gave the company an “overweight” rating and set a $43.00 price objective. Similarly, Wells Fargo & Company initiated coverage on Valvoline with an “overweight” rating and set a $42.00 price target on September 7th.
However, JPMorgan Chase & Co. took a less optimistic view and dropped their price objective for Valvoline from $39.00 to $36.00 and labeled it as neutral in their report on August 10th.
In total, out of the nine analysts that have rated the stock, six issued hold ratings while three gave buy ratings to Valvoline. The Bloomberg.com consensus rating for the stock is thus marked as “Hold” with an average target price of $39.57 as analyzed by these analysts.
On Monday, September 18th, Valvoline opened at $32.07 per share. The company has been maintaining a comfortable quick ratio (current assets versus current liabilities) of 2.59 along with an even better current ratio (current assets excluding inventory versus current liabilities) of 2.68 which indicates good liquidity levels during this period.
Valvoline also boasts a strong financial position with a debt-to-equity ratio of 5.49 compared to its industry peers, denoting its ability to meet its debt obligations effectively.
The company’s market capitalization currently stands at approximately $4.45 billion alongside a low price earnings ratio (PE) of 3.63 and beta score of 1.35 which indicates higher volatility relative to the broader market index.
Looking at Valvoline Inc.’s recent financial performance, it reported better-than-expected earnings results on Wednesday, August 9th for the quarter ending June 30th. The basic materials company achieved earnings per share (EPS) of $0.43 for the quarter, surpassing the consensus estimate of $0.37 by $0.06. Valvoline’s revenue for the same period amounted to $376.20 million, beating analysts’ expectations of $367.53 million.
With a net margin of 110.05% and an impressive return on equity of 42.99%, Valvoline showcased its profitability and ability to generate significant returns for its shareholders. The firm’s quarterly revenue also witnessed a noteworthy increase of 18.5% compared to the previous year, showcasing strong growth.
Sell-side analysts expect that for the current fiscal year, Valvoline Inc. will post earnings per share (EPS) of approximately 1.2.
Overall, despite recent mixed ratings from analysts and fluctuating stock prices, Valvoline Inc.’s solid financial performance and market presence indicate its potential to remain a key player in the automotive services industry going forward. Investors and analysts will continue to monitor the company’s financial results and assess its future prospects with bated breath.
