The Manufacturers Life Insurance Company Cuts Stock Position in Valvoline Inc. (NYSE:VVV)

The Manufacturers Life Insurance Company decreased its holdings in shares of Valvoline Inc. (NYSE:VVV) by 0.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,178,671 shares of the basic materials company’s stock after selling 3,009 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.91% of Valvoline worth $49,327,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of VVV. Sculptor Capital LP grew its stake in shares of Valvoline by 187.6% during the second quarter. Sculptor Capital LP now owns 1,879,500 shares of the basic materials company’s stock worth $81,194,000 after acquiring an additional 1,226,000 shares during the last quarter. Geneva Capital Management LLC purchased a new stake in shares of Valvoline during the third quarter worth about $32,670,000. Fiera Capital Corp purchased a new stake in shares of Valvoline during the third quarter worth about $25,538,000. F M Investments LLC purchased a new stake in shares of Valvoline during the second quarter worth about $11,992,000. Finally, Bank of Montreal Can grew its stake in shares of Valvoline by 438.7% during the third quarter. Bank of Montreal Can now owns 308,699 shares of the basic materials company’s stock worth $12,919,000 after acquiring an additional 251,398 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Valvoline Trading Up 3.4 %

Shares of NYSE:VVV opened at $40.10 on Friday. Valvoline Inc. has a 12-month low of $33.86 and a 12-month high of $48.26. The company has a market capitalization of $5.15 billion, a PE ratio of 24.75 and a beta of 1.46. The business has a 50 day moving average of $41.21 and a two-hundred day moving average of $41.82. The company has a current ratio of 0.72, a quick ratio of 0.61 and a debt-to-equity ratio of 5.77.

Analyst Ratings Changes

A number of brokerages have recently weighed in on VVV. Stephens began coverage on Valvoline in a research note on Tuesday, October 15th. They set an “overweight” rating and a $49.00 price target on the stock. Royal Bank of Canada decreased their target price on Valvoline from $52.00 to $46.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Baird R W raised Valvoline to a “strong-buy” rating in a report on Thursday, August 15th. Morgan Stanley decreased their target price on Valvoline from $46.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Robert W. Baird decreased their target price on Valvoline from $48.00 to $46.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $46.25.

Insider Buying and Selling at Valvoline

In related news, Director Charles M. Sonsteby purchased 10,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $39.50 per share, with a total value of $395,000.00. Following the completion of the acquisition, the director now owns 26,437 shares of the company’s stock, valued at $1,044,261.50. The trade was a 60.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.34% of the stock is currently owned by corporate insiders.

About Valvoline

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.