Anthracite Investment Company Inc. Purchases New Holdings in Valvoline Inc. (NYSE:VVV)

Anthracite Investment Company Inc. acquired a new position in shares of Valvoline Inc. (NYSE:VVV) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 60,000 shares of the basic materials company’s stock, valued at approximately $2,511,000.

Several other institutional investors have also recently added to or reduced their stakes in VVV. Blue Trust Inc. increased its stake in Valvoline by 57.9% during the second quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 267 shares during the last quarter. MAI Capital Management raised its stake in Valvoline by 2.4% during the third quarter. MAI Capital Management now owns 11,624 shares of the basic materials company’s stock worth $486,000 after acquiring an additional 268 shares during the period. UMB Bank n.a. lifted its holdings in Valvoline by 92.1% in the third quarter. UMB Bank n.a. now owns 630 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 302 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in Valvoline by 0.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 47,602 shares of the basic materials company’s stock valued at $1,992,000 after acquiring an additional 313 shares during the period. Finally, Evergreen Capital Management LLC boosted its stake in Valvoline by 6.1% in the second quarter. Evergreen Capital Management LLC now owns 6,292 shares of the basic materials company’s stock valued at $272,000 after acquiring an additional 359 shares during the period. 96.13% of the stock is owned by institutional investors and hedge funds.

Valvoline Stock Performance

NYSE:VVV opened at $38.66 on Wednesday. The company has a 50-day moving average of $41.43 and a 200-day moving average of $41.99. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 31.43 and a beta of 1.46. The company has a current ratio of 0.73, a quick ratio of 0.62 and a debt-to-equity ratio of 10.57. Valvoline Inc. has a twelve month low of $33.86 and a twelve month high of $48.26.

Valvoline announced that its Board of Directors has initiated a share repurchase program on Tuesday, July 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

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

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.