Valvoline Inc (+1, VVV US, August 30th)
Mary Meixelsperger (CFO since 2016) purchased $201,000 worth of stock on August 28th at $33.55, increasing her holdings by 5% to 116,219 shares.
This is her third purchase and her largest along with the highest price she has paid. She spent $55,000 on the IPO at $22 in September 2016, and then in April 2019 spent $140,000 at $18.71 under a plan, which proved to be timely. She has met her ownership guidelines (3x salary) and this purchase after a modest pull-back from an all-time high is interesting.
We are ranking the stock +1.
The company just had several major recent announcements, including the retirement of Sam Mitchell as CEO, being succeeded by Lori Flees (currently Pres. of Retail Services), the pending sale of its Lubricants Business to Aramco for $2.6B, and a completed $1B Dutch auction tender offer in June 2023 at $38 per share.
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