State of Alaska Department of Revenue lifted its position in WD-40 (NASDAQ:WDFC – Get Rating) by 8.3% in the second quarter, Holdings Channel reports. The firm owned 10,334 shares of the specialty chemicals company's stock after acquiring an additional 795 shares during the period. State of Alaska Department of Revenue's holdings in WD-40 were worth $2,080,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its position in shares of WD-40 by 386.1% in the 1st quarter. Quadrant Capital Group LLC now owns 175 shares of the specialty chemicals company's stock valued at $32,000 after purchasing an additional 139 shares during the period. Cornerstone Advisory LLC acquired a new stake in WD-40 during the 4th quarter worth approximately $77,000. Hardy Reed LLC acquired a new stake in WD-40 during the 1st quarter worth approximately $58,000. Steward Partners Investment Advisory LLC lifted its position in WD-40 by 22.3% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 335 shares of the specialty chemicals company's stock worth $61,000 after acquiring an additional 61 shares during the period. Finally, Evergreen Capital Management LLC acquired a new stake in WD-40 during the 4th quarter worth approximately $203,000. 93.52% of the stock is owned by institutional investors and hedge funds.
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WD-40 Stock Performance
NASDAQ WDFC opened at $181.91 on Friday. WD-40 has a 1-year low of $163.61 and a 1-year high of $255.31. The company has a market capitalization of $2.48 billion, a P/E ratio of 41.06 and a beta of -0.25. The business has a 50 day moving average price of $188.34 and a 200 day moving average price of $187.14. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.51 and a quick ratio of 1.51.
WD-40 (NASDAQ:WDFC – Get Rating) last released its quarterly earnings data on Thursday, July 7th. The specialty chemicals company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.21). WD-40 had a net
margin of 12.10% and a return on equity of 30.75%. The firm had revenue of $123.67 million during the quarter, compared to analysts' expectations of $142.80 million. During the same period in the previous year, the business earned $1.52 earnings per share. The business's revenue for the quarter was down 9.3% on a year-over-year basis. Sell-side analysts expect that WD-40 will post 5.08 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on WDFC shares. DA Davidson raised WD-40 from a "neutral" rating to a "buy" rating and set a $205.00 price objective for the company in a research report on Monday, July 18th. TheStreet downgraded WD-40 from a "b-" rating to a "c+" rating in a research note on Friday, July 8th. Finally, BWS Financial started coverage on WD-40 in a research note on Thursday, July 14th. They set a "sell" rating and a $88.00 target price for the company.
Insider Activity at WD-40
In other news, Director Eric Etchart acquired 500 shares of the company's stock in a transaction that occurred on Thursday, August 4th. The stock was purchased at an average cost of $177.60 per share, with a total value of $88,800.00. Following the purchase, the director now directly owns 5,692 shares of the company's stock, valued at approximately $1,010,899.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.33% of the stock is currently owned by company insiders.
About WD-40
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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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