SEC Form SC 13G/A filed by Valvoline Inc. (Amendment)

2/9/23 12:39:52 PM ET

Major Chemicals

Industrials

Get the next $VVV alert in real time by email

SC 13G/A 1 filing.txt SCHEDULE 13G Amendment No.2 VALVOLINE INC COMMON STOCK Cusip #92047W101 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) Cusip #92047W101 Item 1: Reporting Person - FMR LLC Item 2: (a) [ ] (b) [ ] Item 4: Delaware Item 5: 14,482,822 Item 6: 0 Item 7: 14,501,140 Item 8: 0 Item 9: 14,501,140 Item 11: 8.313% Item 12: HC Cusip #92047W101 Item 1: Reporting Person - Abigail P. Johnson Item 2: (a) [ ] (b) [ ] Item 4: United States of America Item 5: 0 Item 6: 0 Item 7: 14,501,140 Item 8: 0 Item 9: 14,501,140 Item 11: 8.313% Item 12: IN Item 1(a). Name of Issuer: VALVOLINE INC Item 1(b). Address of Issuer's Principal Executive Offices: 100 VALVOLINE WAY LEXINGTON, KY 40509 USA Item 2(a). Name of Person Filing: FMR LLC Item 2(b). Address or Principal Business Office or, if None, Residence: 245 Summer Street, Boston, Massachusetts 02210 Item 2(c). Citizenship: Not applicable Item 2(d). Title of Class of Securities: COMMON STOCK Item 2(e). CUSIP Number: 92047W101 Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c) and the person filing, FMR LLC, is a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G). (Note: See Exhibit A). Item 4. Ownership (a) Amount Beneficially Owned: 14,501,140 (b) Percent of Class: 8.313% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 14,501,140 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of VALVOLINE INC. No one other person's interest in the COMMON STOCK of VALVOLINE INC is more than five percent of the total outstanding COMMON STOCK. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. See attached Exhibit A. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing orinfluencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. February 9, 2023 Date /s/ Stephanie J. Brown Signature Stephanie J. Brown Duly authorized under Power of Attorney effective as of January 3, 2023, by and on behalf of FMR LLC and its direct and indirect subsidiaries* * This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 10, 2023, accession number: 0000315066-23-000003. Exhibit A Pursuant to the instructions in Item 7 of Schedule 13G, the following table lists the identity and Item 3 classification, if applicable, of each relevant entity that beneficially owns shares of the security class being reported on this Schedule 13G. Entity ITEM 3 Classification FIAM LLC IA Fidelity Diversifying Solutions LLC IA Fidelity Management & Research Company LLC * IA Fidelity Management Trust Company BK Strategic Advisers LLC IA * Entity beneficially owns 5% or greater of the outstanding shares of the security class being reported on this Schedule 13G. Abigail P. Johnson is a Director, the Chairman and the Chief Executive Officer of FMR LLC. Members of the Johnson family, including Abigail P. Johnson, are the predominant owners, directly or through trusts, of Series B voting common shares of FMR LLC, representing 49% of the voting power of FMR LLC. The Johnson family group and all other Series B shareholders have entered into a shareholders' voting agreement under which all Series B voting common shares will be voted in accordance with the majority vote of Series B voting common shares. Accordingly, through their ownership of voting common shares and the execution of the shareholders' voting agreement, members of the Johnson family may be deemed, under the Investment Company Act of 1940, to form a controlling group with respect to FMR LLC. This filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by FMR LLC, certain of its subsidiaries and affiliates, and other companies (collectively, the "FMR Reporters"). This filing does not reflect securities, if any, beneficially owned by certain other companies whose beneficial ownership of securities is disaggregated from that of the FMR Reporters in accordance with Securities and Exchange Commission Release No. 34-39538 (January 12, 1998). RULE 13d-1(k)(1) AGREEMENT The undersigned persons, on February 9, 2023, agree and consent to the joint filing on their behalf of this Schedule 13G in connection with their beneficial ownership of the COMMON STOCK of VALVOLINE INC at December 30, 2022. FMR LLC By /s/ Stephanie J. Brown Stephanie J. Brown Duly authorized under Power of Attorney effective as of January 3, 2023, by and on behalf of FMR LLC and its direct and indirect subsidiaries* Abigail P. Johnson By /s/ Stephanie J. Brown Stephanie J. Brown Duly authorized under Power of Attorney effective as of January, 26, 2023, by and on behalf of Abigail P. Johnson** * This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 10, 2023, accession number: 0000315066-23-000003. ** This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 31, 2023, accession number: 0000315066-23-000038.

Get the next $VVV alert in real time by email

Recent Analyst Ratings for

$VVV

Date	Price Target	Rating	Analyst
5/29/2026	$35.00	Underweight → Neutral	Analyst
5/28/2026	$35.00	Equal Weight	Barclays
3/23/2026	$42.00	Hold → Buy	Stifel
2/12/2026	$35.00	Neutral → Underweight	Analyst
12/18/2025	$42.00	Buy	Roth Capital
12/17/2025	$40.00	Buy	Jefferies
6/3/2025	$45.00	Buy	Goldman
4/4/2025	$40.00	Buy	TD Cowen

More analyst ratings

SEC Form SC 13G/A filed by Valvoline Inc. (Amendment)

2/9/23 12:39:52 PM ET

$VVV

Major Chemicals

Industrials

Get the next $VVV alert in real time by email

Recent Analyst Ratings for

$VVV

Date	Price Target	Rating	Analyst
5/29/2026	$35.00	Underweight → Neutral	Analyst
5/28/2026	$35.00	Equal Weight	Barclays
3/23/2026	$42.00	Hold → Buy	Stifel
2/12/2026	$35.00	Neutral → Underweight	Analyst
12/18/2025	$42.00	Buy	Roth Capital
12/17/2025	$40.00	Buy	Jefferies
6/3/2025	$45.00	Buy	Goldman
4/4/2025	$40.00	Buy	TD Cowen

More analyst ratings

SEC Form SC 13G/A filed by Valvoline Inc. (Amendment)

Crush Q1 2026 with the Best AI Superconnector

Recent Analyst Ratings for
$VVV

SEC Form SC 13G/A filed by Valvoline Inc. (Amendment)

Crush Q1 2026 with the Best AI Superconnector

Recent Analyst Ratings for
$VVV

$VVV
Press Releases

Valvoline Inc. to Report Financial Results for Third Quarter 2026 and Host Webcast on August 5

New Valvoline Inc. Report: Americans Feel Confident but 4 in 10 Are Overwhelmed by Everyday Decisions

Valvoline Instant Oil Change® Named 12-Time Winner of the Association for Talent Developments Best of the BEST Award

$VVV
SEC Filings

Amendment: SEC Form SCHEDULE 13G/A filed by Valvoline Inc.

Valvoline Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits

SEC Form 11-K filed by Valvoline Inc.

$VVV
Insider Trading

SEC Form 4 filed by President & CEO Flees Lori Ann

SEC Form 4 filed by President & CEO Flees Lori Ann

Chief People Officer Caldwell Jonathan L. sold $114,040 worth of shares (2,851 units at $40.00), decreasing direct ownership by 12% to 20,918 units (SEC Form 4)

$VVV
Analyst Ratings

Valvoline upgraded by Analyst with a new price target

Barclays initiated coverage on Valvoline with a new price target

Valvoline upgraded by Stifel with a new price target

$VVV
Insider Purchases

Director Slater Jennifer Lynn bought $32,530 worth of shares (1,000 units at $32.53) (SEC Form 4)

Chief Financial Officer Willis J Kevin bought $318,000 worth of shares (10,000 units at $31.80), increasing direct ownership by 44% to 32,725 units (SEC Form 4)

Director Freeland Richard Joseph bought $100,347 worth of shares (3,100 units at $32.37), increasing direct ownership by 24% to 16,112 units (SEC Form 4)

$VVV
Leadership Updates

Valvoline Instant Oil Change Launches School Supply Drive to Support Local Students

Valvoline Inc. to Refranchise 38 Company Stores; Welcomes New Franchise Partner Velocity Auto Care

On Nov. 1, Valvoline Inc. Kicks Off 15 Years of Supporting Children's Miracle Network Hospitals®

$VVV
Financials

Valvoline Inc. Reports Second Quarter Results

Valvoline Inc. Reports First Quarter Results

Valvoline Inc. Reports Fourth Quarter and Fiscal Year 2025 Results

$VVV
Large Ownership Changes

Amendment: SEC Form SC 13G/A filed by Valvoline Inc.