Allspring Global Investments Holdings LLC Trims Stock Position in WD-40 (NASDAQ:WDFC)

Allspring Global Investments Holdings LLC lessened its holdings in shares of WD-40 (NASDAQ:WDFCGet Rating) by 7.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,947 shares of the specialty chemicals company’s stock after selling 1,139 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.11% of WD-40 worth $2,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in WDFC. Venture Visionary Partners LLC purchased a new position in shares of WD-40 during the second quarter worth $37,000. WFA of San Diego LLC purchased a new position in WD-40 in the second quarter valued at $40,000. Quantbot Technologies LP purchased a new position in WD-40 in the second quarter valued at $44,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in WD-40 in the third quarter valued at $54,000. Finally, Larson Financial Group LLC purchased a new position in WD-40 in the second quarter valued at $61,000. Hedge funds and other institutional investors own 92.24% of the company’s stock.

WD-40 Stock Down 2.9 %

Shares of NASDAQ WDFC opened at $169.59 on Thursday. The company’s 50-day simple moving average is $167.47 and its 200-day simple moving average is $175.89. WD-40 has a 52-week low of $145.16 and a 52-week high of $237.85. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 37.03 and a beta of -0.18. The company has a quick ratio of 1.20, a current ratio of 2.25 and a debt-to-equity ratio of 0.56.

WD-40 (NASDAQ:WDFCGet Rating) last announced its 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). WD-40 had a net margin of 12.33% and a return on equity of 32.44%. The company had revenue of $124.89 million during the quarter, compared to analyst estimates of $140.70 million. During the same quarter last year, the business earned $1.34 EPS. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. Equities analysts predict that WD-40 will post 5.19 EPS for the current fiscal year.

WD-40 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, January 13th will be given a $0.83 dividend. This is a positive change from WD-40’s previous quarterly dividend of $0.78. The ex-dividend date is Thursday, January 12th. This represents a $3.32 annualized dividend and a dividend yield of 1.96%. WD-40’s dividend payout ratio (DPR) is 72.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WDFC shares. StockNews.com started coverage on shares of WD-40 in a report on Wednesday, October 12th. They issued a “hold” rating for the company. DA Davidson lifted their price objective on shares of WD-40 from $205.00 to $207.00 and gave the company a “buy” rating in a report on Thursday, October 20th.

Insider Buying and Selling

In related news, insider Patricia Q. Olsem sold 625 shares of the business’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $165.00, for a total transaction of $103,125.00. Following the transaction, the insider now directly owns 3,181 shares in the company, valued at $524,865. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Patricia Q. Olsem sold 625 shares of the business’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $165.00, for a total transaction of $103,125.00. Following the transaction, the insider now directly owns 3,181 shares in the company, valued at $524,865. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Geoffrey Holdsworth sold 2,652 shares of the business’s stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $152.12, for a total transaction of $403,422.24. Following the transaction, the director now owns 6,061 shares in the company, valued at $921,999.32. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

WD-40 Company Profile

(Get Rating)

WD-40 Co engages in developing and selling products that solve problems in workshops, factories, and homes. The firm operates through the following geographical segments: Americas, Europe, Middle East, and Africa (EMEA), and Asia-Pacific. Its product brands include WD-40 multi-use product, WD-40 specialist, 3-in-one, GT85, X-14, 2000 flushes, carpet fresh, no vac, spot shot, 1001, lava, and solvol.

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

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