Aigen Investment Management LP Makes New Investment in Valvoline Inc. (NYSE:VVV)

Aigen Investment Management LP acquired a new stake in Valvoline Inc. (NYSE:VVV) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,651 shares of the basic materials company’s stock, valued at approximately $236,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sculptor Capital LP grew its position in Valvoline by 187.6% in the 2nd quarter. Sculptor Capital LP now owns 1,879,500 shares of the basic materials company’s stock valued at $81,194,000 after acquiring an additional 1,226,000 shares in the last quarter. Fiera Capital Corp purchased a new stake in Valvoline during the 3rd quarter worth approximately $25,538,000. F M Investments LLC acquired a new stake in Valvoline during the 2nd quarter worth approximately $11,992,000. Hantz Financial Services Inc. purchased a new position in Valvoline in the 2nd quarter valued at approximately $9,974,000. Finally, Tyro Capital Management LLC acquired a new position in shares of Valvoline in the first quarter worth $9,627,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Valvoline Trading Down 1.3 %

Shares of Valvoline stock opened at $42.32 on Friday. The company has a fifty day simple moving average of $41.37 and a 200-day simple moving average of $42.03. Valvoline Inc. has a 12-month low of $33.86 and a 12-month high of $48.26. The company has a current ratio of 0.73, a quick ratio of 0.62 and a debt-to-equity ratio of 10.57. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 34.41 and a beta of 1.46.

Valvoline announced that its board has approved a share buyback program on Tuesday, July 30th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently issued reports on VVV shares. Royal Bank of Canada reduced their price objective on Valvoline from $54.00 to $48.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Baird R W raised Valvoline to a “strong-buy” rating in a research report on Thursday, August 15th. Stephens began coverage on shares of Valvoline in a research note on Tuesday, October 15th. They set an “overweight” rating and a $49.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of Valvoline from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, Robert W. Baird started coverage on shares of Valvoline in a report on Thursday, August 15th. They issued an “outperform” rating and a $48.00 price objective on the stock. 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.75.

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.