Nuveen Asset Management LLC Sells 415,339 Shares of Valvoline Inc. (NYSE:VVV)

Nuveen Asset Management LLC lowered its position in Valvoline Inc. (NYSE:VVV) by 26.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,166,753 shares of the basic materials company’s stock after selling 415,339 shares during the period. Nuveen Asset Management LLC owned about 0.91% of Valvoline worth $42,213,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Huntington National Bank grew its holdings in shares of Valvoline by 1,004.9% in the fourth quarter. Huntington National Bank now owns 895 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 814 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Valvoline in the fourth quarter worth $36,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Valvoline in the fourth quarter worth $49,000. Headlands Technologies LLC purchased a new position in Valvoline during the fourth quarter valued at $73,000. Finally, Atala Financial Inc purchased a new position in Valvoline during the fourth quarter valued at $77,000. Institutional investors own 96.13% of the company’s stock.

Insider Activity

In related news, insider Julie Marie O’daniel sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $37.41, for a total value of $224,460.00. Following the transaction, the insider now owns 15,305 shares of the company’s stock, valued at $572,560.05. This represents a 28.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

VVV has been the topic of several analyst reports. TD Cowen initiated coverage on Valvoline in a research report on Friday, April 4th. They set a “buy” rating and a $40.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Valvoline from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Citigroup lowered their target price on Valvoline from $41.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Royal Bank of Canada lifted their target price on Valvoline from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company lowered their target price on Valvoline from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.33.

Valvoline Trading Up 0.1%

VVV opened at $34.96 on Tuesday. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 16.73 and a beta of 1.20. The stock’s 50 day moving average price is $34.39 and its 200-day moving average price is $36.68. Valvoline Inc. has a one year low of $31.02 and a one year high of $48.27. The company has a debt-to-equity ratio of 4.39, a quick ratio of 0.58 and a current ratio of 0.70.

Valvoline (NYSE:VVV) last released its earnings results on Thursday, May 8th. The basic materials company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $403.20 million for the quarter, compared to the consensus estimate of $405.38 million. Valvoline had a net margin of 16.34% and a return on equity of 143.64%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 EPS. On average, equities analysts forecast that Valvoline Inc. will post 1.63 EPS for the current year.

Valvoline Profile

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.