Bank of Montreal Can Purchases New Holdings in WD-40 (NASDAQ:WDFC)

Bank of Montreal Can purchased a new stake in WD-40 (NASDAQ:WDFC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,812 shares of the specialty chemicals company’s stock, valued at approximately $365,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cim Investment Management Inc. boosted its stake in WD-40 by 3.6% in the first quarter. Cim Investment Management Inc. now owns 1,534 shares of the specialty chemicals company’s stock valued at $273,000 after acquiring an additional 53 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in WD-40 by 2.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 2,409 shares of the specialty chemicals company’s stock valued at $429,000 after acquiring an additional 55 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in WD-40 by 0.8% in the first quarter. Commonwealth Equity Services LLC now owns 7,783 shares of the specialty chemicals company’s stock valued at $1,385,000 after acquiring an additional 59 shares during the last quarter. Baird Financial Group Inc. boosted its stake in WD-40 by 3.2% in the first quarter. Baird Financial Group Inc. now owns 2,075 shares of the specialty chemicals company’s stock valued at $380,000 after acquiring an additional 65 shares during the last quarter. Finally, First Republic Investment Management Inc. boosted its stake in WD-40 by 0.9% in the first quarter. First Republic Investment Management Inc. now owns 7,399 shares of the specialty chemicals company’s stock valued at $1,317,000 after acquiring an additional 66 shares during the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.

WD-40 Trading Down 0.5 %

WDFC opened at $221.09 on Monday. The stock has a market capitalization of $3.00 billion, a P/E ratio of 45.87 and a beta of -0.15. WD-40 has a 12 month low of $157.52 and a 12 month high of $234.69. The firm’s fifty day simple moving average is $208.57 and its 200 day simple moving average is $206.25. The company has a current ratio of 2.80, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.21 EPS for the quarter, meeting the consensus estimate of $1.21. The business had revenue of $140.50 million for the quarter, compared to analysts’ expectations of $138.20 million. WD-40 had a net margin of 12.28% and a return on equity of 32.81%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 EPS. As a group, research analysts anticipate that WD-40 will post 5.1 EPS for the current fiscal year.

WD-40 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 20th were paid a $0.83 dividend. The ex-dividend date of this dividend was Thursday, October 19th. This represents a $3.32 annualized dividend and a yield of 1.50%. WD-40’s payout ratio is currently 68.88%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WDFC. DA Davidson lifted their price target on shares of WD-40 from $256.00 to $258.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. StockNews.com began coverage on shares of WD-40 in a research report on Thursday, October 5th. They set a “hold” rating on the stock.

WD-40 Company Profile

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, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.