WD-40 (NASDAQ:WDFC) Shares Purchased by M&T Bank Corp

M&T Bank Corp increased its position in shares of WD-40 (NASDAQ:WDFC) by 16.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,719 shares of the specialty chemicals company’s stock after acquiring an additional 530 shares during the quarter. M&T Bank Corp’s holdings in WD-40 were worth $662,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of WDFC. JPMorgan Chase & Co. boosted its position in WD-40 by 7.7% during the first quarter. JPMorgan Chase & Co. now owns 27,928 shares of the specialty chemicals company’s stock worth $5,117,000 after acquiring an additional 1,991 shares during the last quarter. US Bancorp DE boosted its position in WD-40 by 3.2% during the first quarter. US Bancorp DE now owns 2,249 shares of the specialty chemicals company’s stock worth $412,000 after acquiring an additional 69 shares during the last quarter. HighTower Advisors LLC boosted its position in WD-40 by 5.4% during the first quarter. HighTower Advisors LLC now owns 4,069 shares of the specialty chemicals company’s stock worth $734,000 after acquiring an additional 208 shares during the last quarter. Citigroup Inc. boosted its position in WD-40 by 5.3% during the first quarter. Citigroup Inc. now owns 13,825 shares of the specialty chemicals company’s stock worth $2,533,000 after acquiring an additional 690 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position in WD-40 by 57.7% during the first quarter. MetLife Investment Management LLC now owns 7,416 shares of the specialty chemicals company’s stock worth $1,359,000 after acquiring an additional 2,713 shares during the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.

Insider Activity

In other news, insider Patricia Q. Olsem sold 420 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $200.00, for a total value of $84,000.00. Following the transaction, the insider now owns 2,323 shares of the company’s stock, valued at approximately $464,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WDFC. TheStreet upgraded shares of WD-40 from a “c+” rating to a “b-” rating in a report on Monday, July 10th. StockNews.com began coverage on shares of WD-40 in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, DA Davidson lifted their price target on shares of WD-40 from $228.00 to $232.00 in a report on Tuesday, July 11th.

WD-40 Stock Performance

Shares of WDFC stock opened at $210.80 on Friday. The company’s fifty day simple moving average is $214.52 and its 200-day simple moving average is $194.32. WD-40 has a 52 week low of $145.16 and a 52 week high of $234.69. The company has a current ratio of 2.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.53. The company has a market cap of $2.86 billion, a PE ratio of 44.95 and a beta of -0.15.

WD-40 (NASDAQ:WDFC) last issued its earnings results on Monday, July 10th. The specialty chemicals company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.16. WD-40 had a net margin of 12.18% and a return on equity of 32.79%. The business had revenue of $141.72 million for the quarter, compared to the consensus estimate of $138.40 million. During the same quarter last year, the firm posted $1.07 EPS. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. As a group, equities research analysts anticipate that WD-40 will post 4.86 EPS for the current year.

WD-40 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 14th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Thursday, July 13th. WD-40’s dividend payout ratio is presently 70.79%.

WD-40 Profile

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.