Neuberger Berman Group LLC lowered its position in shares of WD-40 (NASDAQ:WDFC – Get Rating) by 4.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 864,513 shares of the specialty chemicals company's stock after selling 37,410 shares during the quarter. Neuberger Berman Group LLC owned about 6.33% of WD-40 worth $158,405,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Swiss National Bank grew its holdings in shares of WD-40 by 7.6% during the 1st quarter. Swiss National Bank now owns 32,400 shares of the specialty chemicals company's stock worth $5,937,000 after purchasing an additional 2,300 shares during the period. Insight Wealth Strategies LLC grew its holdings in shares of WD-40 by 5.9% during the 1st quarter. Insight Wealth Strategies LLC now owns 1,230 shares of the specialty chemicals company's stock worth $225,000 after purchasing an additional 68 shares during the period. Rhumbline Advisers grew its holdings in shares of WD-40 by 1.1% during the 4th quarter. Rhumbline Advisers now owns 38,680 shares of the specialty chemicals company's stock worth $9,463,000 after purchasing an additional 438 shares during the period. Kenfarb & CO. purchased a new position in WD-40 in the 4th quarter worth approximately $333,000. Finally, Evergreen Capital Management LLC purchased a new position in WD-40 in the 4th quarter worth approximately $203,000. Hedge funds and other institutional investors own 93.52% of the company's stock.
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WD-40 Stock Performance
Shares of WDFC opened at $188.18 on Friday. The business's 50 day moving average is $186.25 and its two-hundred day moving average is $188.08. WD-40 has a 52-week low of $163.61 and a 52-week high of $255.31. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 42.48 and a beta of -0.25. The company has a quick ratio of 1.51, a current ratio of 2.51 and a debt-to-equity ratio of 0.56.
WD-40 (NASDAQ:WDFC – Get Rating) last announced its earnings results on Thursday, July 7th. The specialty chemicals company reported $1.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.28 by ($0.21). WD-40 had a net
margin of 12.10% and a return on equity of 30.75%. The business had revenue of $123.67 million during the quarter, compared to analyst estimates of $142.80 million. During the same period in the previous year, the company earned $1.52 earnings per share. The business's revenue for the quarter was down 9.3% on a year-over-year basis. Analysts forecast that WD-40 will post 5.08 EPS for the current fiscal year.
WD-40 Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 15th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Thursday, July 14th. WD-40's payout ratio is 70.43%.
Analyst Ratings Changes
A number of research firms have weighed in on WDFC. BWS Financial began coverage on WD-40 in a report on Thursday, July 14th. They issued a "sell" rating and a $88.00 price target for the company. TheStreet cut WD-40 from a "b-" rating to a "c+" rating in a report on Friday, July 8th. Finally, DA Davidson upgraded WD-40 from a "neutral" rating to a "buy" rating and set a $205.00 price target for the company in a report on Monday, July 18th.
Insider Buying and Selling at WD-40
In other WD-40 news, Director Eric Etchart bought 500 shares of the business's stock in a transaction on Thursday, August 4th. The shares were bought at an average cost of $177.60 per share, with a total value of $88,800.00. Following the transaction, the director now directly owns 5,692 shares in the company, valued at approximately $1,010,899.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.33% of the stock is currently owned by corporate insiders.
WD-40 Profile
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WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name; and specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand, as well as various products under the WD-40 Bike brand name.
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