Everett Harris & Co. CA has increased its stake in Valvoline Inc. (NYSE:VVV) by 16.8%, according to the latest Form 13F filed with the Securities and Exchange Commission (SEC). The prominent investment management firm owned 49,025 shares of Valvoline Basic Materials stock, acquiring an additional 7,038 shares during the fourth quarter worth a total of $1,601,000 as of its most recent filing with the SEC.
Valvoline last reported earnings on February 7th, revealing that it earned $0.16 per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 per share (0, 06 dollars). Despite missing EPS estimates, Valvoline had revenue of $332.80 million for the quarter, still impressive compared to the consensus estimate of $334.31 million.
Valvoline is engaged in producing, marketing and providing automotive engine maintenance products and services; operating through its retail services segment serving the passenger car and light truck quick lube market in Canada and the United States; this is achieved by offering preventive maintenance services performed through independent franchise service shops or company-operated entities.
The ever-increasing stake in Everett Harris & Co. in Valvoline it highlights the nature of the investment; where investment companies look for potential acquisition opportunities that could be profitable for them; this could be due to undervaluation at a particular point in time or projected profitability over time. However, regardless of your intent, due diligence such as financial statement analysis is required to assess whether an acquisition would help increase long-term shareholder value.
Experts think we should keep a close eye on this development because if Everett Harris continues his upward trend in buying shares of Valvoline, it may lead to the injection of large amounts of capital into the basic materials company, thus stimulating more investments that trigger possible economic growth for both entities in the future. negotiation periods.
Institutional investors and hedge funds modify holdings of Valvoline, Inc
Valvoline, Inc., a leading provider of automotive and engine maintenance products and services, has recently seen institutional investors and hedge funds modify their holdings of the company’s stock. Teza Capital Management LLC purchased a new position in the third quarter valued at approximately $225,000. Gabelli Funds LLC grew its holdings in Valvoline by 6.5% during the same period and now owns 262,810 shares of the company’s stock valued at $6,660,000 after purchasing an additional 16,000 shares during the last quarter. Itau Unibanco Holding SA also bought a new position in Valvoline worth about $91,000 while Fulton Bank NA made it worth about $201,000. Weiss Asset Management LP bought a new position in Valvoline worth approximately $220,000.
Interestingly, hedge funds along with other institutional investors own 90.20% of the total shares issued by Valvoline.
Valvoline was trading at $34.49 on Wednesday, where it witnessed a trade of more than 367 thousand shares; its average volume is approximately 1.53 million shares traded daily. The company has a 50-day SMA of $34.91, while its 200-day SMA is currently at $31.91.
With a market capitalization of approximately $5.93 billion and earnings per share of approximately $2.36, Valvoline has surged its way to being widely recognized as one of America’s leading producers and marketers of lubricants for automobiles and powertrain-related products sold globally through channels that include retail outlets. with dozens of branded stores.
In exciting news related to company management: CMO Heidi J. Matheys sold her stake consisting of 3,000 shares at approximately $36 each for a total value of approximately $108,000. Following the completion of this transaction, the chief marketing officer now owns approximately 37,159 shares in total, valued at approximately $1,337,724.
Several prominent brokerage firms weighed in on Valvoline, including Royal Bank of Canada, JPMorgan Chase & Co., Citigroup, to name a few. Royal Bank of Canada issued an “outperform” rating with a raised price objective from $39.00 to $40.00, while JPMorgan Chase & Co. raised their price objective for the company from $36.00 to $41.00 with an “overweight” rating. Meanwhile, Citigroup downgraded Valvoline from a “buy” rating to a “neutral” rating and assigned a $37.00 price target, while StockNews.com has given the stock a “sell” rating.
In conclusion, despite hearing both positives and negatives related to the buying and selling of Valvoline stock, no one can deny that institutional investors find opportunities within this American company that produces some of the best automotive products available off the shelf. all over the world”.
