Chartwell Investment Partners LLC Sells 1,241 Shares of Valvoline Inc. (NYSE:VVV)

Chartwell Investment Partners LLC lowered its position in shares of Valvoline Inc. (NYSE:VVV) by 9.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,359 shares of the basic materials company’s stock after selling 1,241 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Valvoline were worth $475,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of VVV. Sculptor Capital LP boosted 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 acquiring an additional 1,226,000 shares during the last quarter. Fiera Capital Corp bought a new position in Valvoline during the third quarter valued at $25,538,000. F M Investments LLC purchased a new stake in Valvoline in the second quarter worth $11,992,000. Hantz Financial Services Inc. bought a new stake in shares of Valvoline in the second quarter valued at $9,974,000. Finally, Tyro Capital Management LLC purchased a new position in shares of Valvoline during the 1st quarter valued at $9,627,000. Institutional investors own 96.13% of the company’s stock.

Valvoline Price Performance

NYSE:VVV opened at $42.60 on Thursday. Valvoline Inc. has a 52-week low of $33.19 and a 52-week high of $48.26. The stock has a fifty day moving average of $41.21 and a 200 day moving average of $42.03. The company has a debt-to-equity ratio of 10.57, a quick ratio of 0.62 and a current ratio of 0.73. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 34.67 and a beta of 1.46.

Valvoline announced that its Board of Directors has initiated a share buyback 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 reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on VVV shares. Robert W. Baird assumed coverage on shares of Valvoline in a report on Thursday, August 15th. They set an “outperform” rating and a $48.00 price objective on the stock. Citigroup raised their price objective on shares of Valvoline from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Baird R W upgraded shares of Valvoline to a “strong-buy” rating in a research note on Thursday, August 15th. Wells Fargo & Company dropped their target price on Valvoline from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Royal Bank of Canada reduced their price target on Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.75.

Valvoline Company 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.