Squarepoint Ops LLC Cuts Stock Holdings in WD-40 (NASDAQ:WDFC)

Squarepoint Ops LLC lowered its stake in WD-40 (NASDAQ:WDFC) by 52.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,014 shares of the specialty chemicals company’s stock after selling 36,947 shares during the period. Squarepoint Ops LLC owned approximately 0.25% of WD-40 worth $7,471,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in WD-40 in the 4th quarter worth approximately $19,697,000. TD Asset Management Inc increased its stake in shares of WD-40 by 23.4% in the fourth quarter. TD Asset Management Inc now owns 15,800 shares of the specialty chemicals company’s stock worth $3,777,000 after buying an additional 3,000 shares during the period. Eagle Asset Management Inc. increased its stake in shares of WD-40 by 1.6% in the fourth quarter. Eagle Asset Management Inc. now owns 45,178 shares of the specialty chemicals company’s stock worth $10,801,000 after buying an additional 728 shares during the period. APG Asset Management US Inc. bought a new stake in WD-40 during the 4th quarter valued at $38,142,000. Finally, Premier Fund Managers Ltd purchased a new stake in WD-40 during the 4th quarter valued at $651,000. Institutional investors own 91.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reduced their price target on WD-40 from $313.00 to $303.00 and set a “buy” rating on the stock in a report on Thursday, July 11th.

WD-40 Stock Up 0.4 %

NASDAQ:WDFC opened at $257.55 on Friday. WD-40 has a 1-year low of $194.09 and a 1-year high of $278.78. The company has a market capitalization of $3.49 billion, a PE ratio of 50.60 and a beta of -0.08. The firm’s 50-day moving average price is $256.27 and its 200-day moving average price is $241.78. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.56.

WD-40 (NASDAQ:WDFC) last announced its quarterly earnings data on Wednesday, July 10th. The specialty chemicals company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.07. The business had revenue of $155.05 million during the quarter, compared to analysts’ expectations of $145.80 million. WD-40 had a return on equity of 32.43% and a net margin of 12.07%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.38 earnings per share. On average, equities analysts predict that WD-40 will post 5.22 EPS for the current fiscal year.

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.