WD-40 (NASDAQ:WDFC) Holdings Cut by Texas Permanent School Fund

Texas Permanent School Fund decreased its stake in WD-40 (NASDAQ:WDFCGet Rating) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,807 shares of the specialty chemicals company’s stock after selling 70 shares during the quarter. Texas Permanent School Fund owned approximately 0.07% of WD-40 worth $1,723,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WDFC. JPMorgan Chase & Co. increased its stake in shares of WD-40 by 7.7% during the 1st quarter. JPMorgan Chase & Co. now owns 27,928 shares of the specialty chemicals company’s stock worth $5,117,000 after purchasing an additional 1,991 shares during the last quarter. US Bancorp DE increased its stake in shares of WD-40 by 3.2% during the 1st quarter. US Bancorp DE now owns 2,249 shares of the specialty chemicals company’s stock worth $412,000 after purchasing an additional 69 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of WD-40 by 5.4% during the 1st quarter. HighTower Advisors LLC now owns 4,069 shares of the specialty chemicals company’s stock worth $734,000 after purchasing an additional 208 shares during the last quarter. Citigroup Inc. increased its stake in shares of WD-40 by 5.3% during the 1st quarter. Citigroup Inc. now owns 13,825 shares of the specialty chemicals company’s stock worth $2,533,000 after purchasing an additional 690 shares during the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of WD-40 by 57.7% during the 1st quarter. MetLife Investment Management LLC now owns 7,416 shares of the specialty chemicals company’s stock worth $1,359,000 after purchasing an additional 2,713 shares during the last quarter. Hedge funds and other institutional investors own 92.24% of the company’s stock.

Wall Street Analysts Forecast Growth

WDFC has been the topic of a number of research analyst reports. DA Davidson raised their target price on shares of WD-40 from $205.00 to $207.00 and gave the company a “buy” rating in a research note on Thursday, October 20th. StockNews.com initiated coverage on shares of WD-40 in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

Insiders Place Their Bets

In related news, CEO Steven A. Brass purchased 632 shares of the firm’s stock in a transaction on Wednesday, October 26th. The shares were bought at an average cost of $158.16 per share, for a total transaction of $99,957.12. Following the transaction, the chief executive officer now directly owns 15,389 shares of the company’s stock, valued at approximately $2,433,924.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Geoffrey Holdsworth sold 2,652 shares of the firm’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $152.12, for a total transaction of $403,422.24. Following the completion of the transaction, the director now directly owns 6,061 shares of the company’s stock, valued at approximately $921,999.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven A. Brass acquired 632 shares of WD-40 stock in a transaction dated Wednesday, October 26th. The shares were acquired at an average cost of $158.16 per share, with a total value of $99,957.12. Following the completion of the acquisition, the chief executive officer now directly owns 15,389 shares in the company, valued at approximately $2,433,924.24. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company’s stock.

WD-40 Stock Performance

NASDAQ:WDFC opened at $169.42 on Thursday. The company has a current ratio of 2.25, a quick ratio of 1.31 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $2.30 billion, a PE ratio of 36.99 and a beta of -0.18. The firm’s fifty day simple moving average is $166.04 and its 200 day simple moving average is $176.84. WD-40 has a 1 year low of $145.16 and a 1 year high of $255.31.

WD-40 (NASDAQ:WDFCGet Rating) last posted its quarterly earnings results on Monday, January 9th. The specialty chemicals company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.07). The company had revenue of $124.89 million during the quarter, compared to analyst estimates of $140.70 million. WD-40 had a return on equity of 32.32% and a net margin of 12.33%. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.34 earnings per share. On average, sell-side analysts anticipate that WD-40 will post 5.24 EPS for the current year.

WD-40 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, January 13th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.96%. This is a positive change from WD-40’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Thursday, January 12th. WD-40’s dividend payout ratio (DPR) is currently 68.12%.

WD-40 Company Profile

(Get Rating)

WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, Australia, 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.

Read More

Want to see what other hedge funds are holding WDFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WD-40 (NASDAQ:WDFCGet Rating).

Institutional Ownership by Quarter for WD-40 (NASDAQ:WDFC)

Receive News & Ratings for WD-40 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WD-40 and related companies with MarketBeat.com's FREE daily email newsletter.