Mackenzie Financial Corp Invests $201,000 in WD-40 (NASDAQ:WDFC)

Mackenzie Financial Corp bought a new stake in WD-40 (NASDAQ:WDFC) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 842 shares of the specialty chemicals company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cullen Investment Group LTD. acquired a new position in shares of WD-40 in the fourth quarter worth about $535,000. Strs Ohio grew its position in shares of WD-40 by 300.0% during the 4th quarter. Strs Ohio now owns 1,600 shares of the specialty chemicals company’s stock valued at $382,000 after acquiring an additional 1,200 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of WD-40 during the 4th quarter valued at about $1,626,000. Koshinski Asset Management Inc. acquired a new stake in shares of WD-40 during the 4th quarter valued at about $227,000. Finally, Cerity Partners LLC acquired a new stake in shares of WD-40 during the 4th quarter valued at about $385,000. Institutional investors and hedge funds own 91.52% of the company’s stock.

Insider Buying and Selling

In other news, CEO Steven A. Brass acquired 432 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were bought at an average cost of $232.22 per share, for a total transaction of $100,319.04. Following the acquisition, the chief executive officer now owns 20,547 shares in the company, valued at approximately $4,771,424.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Steven A. Brass acquired 432 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were bought at an average cost of $232.22 per share, for a total transaction of $100,319.04. Following the acquisition, the chief executive officer now owns 20,547 shares in the company, valued at approximately $4,771,424.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeffrey G. Lindeman bought 182 shares of the stock in a transaction dated Monday, February 12th. The shares were bought at an average price of $272.42 per share, for a total transaction of $49,580.44. Following the completion of the acquisition, the vice president now owns 3,073 shares in the company, valued at $837,146.66. The disclosure for this purchase can be found here. In the last three months, insiders have bought 942 shares of company stock worth $226,897. Insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

Separately, DA Davidson restated a “buy” rating and set a $313.00 target price on shares of WD-40 in a research report on Wednesday, April 10th.

WD-40 Price Performance

NASDAQ:WDFC opened at $224.23 on Tuesday. WD-40 has a 52 week low of $181.38 and a 52 week high of $278.78. The company has a quick ratio of 1.56, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $3.04 billion, a PE ratio of 44.76 and a beta of -0.06. The stock’s 50-day moving average price is $248.78 and its 200-day moving average price is $243.11.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings data on Tuesday, April 9th. The specialty chemicals company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.01. WD-40 had a return on equity of 32.30% and a net margin of 12.19%. The company had revenue of $139.10 million for the quarter, compared to analysts’ expectations of $140.51 million. During the same period in the previous year, the firm posted $1.21 EPS. WD-40’s revenue was up 6.8% compared to the same quarter last year. As a group, equities analysts expect that WD-40 will post 5.22 EPS for the current fiscal year.

WD-40 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 19th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Thursday, April 18th. WD-40’s payout ratio is 70.26%.

WD-40 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.