Anthracite Investment Company Inc. Invests $2.51 Million in Valvoline Inc. (NYSE:VVV)

Anthracite Investment Company Inc. purchased a new stake in shares of Valvoline Inc. (NYSE:VVV) during the third quarter, Holdings Channel.com reports. The firm purchased 60,000 shares of the basic materials company’s stock, valued at approximately $2,511,000.

Several other hedge funds have also made changes to their positions in VVV. UMB Bank n.a. grew its stake in Valvoline by 92.1% during the 3rd quarter. UMB Bank n.a. now owns 630 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 302 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Valvoline by 57.9% during the second quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 267 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Valvoline during the second quarter valued at approximately $34,000. Mather Group LLC. grew its position in Valvoline by 1,617.0% during the second quarter. Mather Group LLC. now owns 807 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 760 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in Valvoline in the 3rd quarter valued at approximately $41,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Baird R W raised shares of Valvoline to a “strong-buy” rating in a research note on Thursday, August 15th. Morgan Stanley reduced their price objective on Valvoline from $46.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday. Stephens started coverage on Valvoline in a research report on Tuesday, October 15th. They issued an “overweight” rating and a $49.00 target price on the stock. Wells Fargo & Company reduced their price target on Valvoline from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, Royal Bank of Canada decreased their target price on shares of Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. One 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. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $47.25.

Valvoline Trading Down 8.7 %

Shares of VVV stock opened at $38.66 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.73 and a debt-to-equity ratio of 10.57. The business’s 50 day moving average is $41.43 and its two-hundred day moving average is $41.99. The company has a market cap of $4.98 billion, a PE ratio of 31.43 and a beta of 1.46. Valvoline Inc. has a 12 month low of $33.86 and a 12 month high of $48.26.

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

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.