Envestnet Asset Management Inc. Decreases Holdings in WD-40 (NASDAQ:WDFC)

Envestnet Asset Management Inc. reduced its position in WD-40 (NASDAQ:WDFC) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,479 shares of the specialty chemicals company’s stock after selling 1,104 shares during the period. Envestnet Asset Management Inc. owned approximately 0.45% of WD-40 worth $14,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of WDFC. Barclays PLC increased its holdings in WD-40 by 309.7% during the third quarter. Barclays PLC now owns 37,094 shares of the specialty chemicals company’s stock valued at $9,566,000 after buying an additional 28,039 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of WD-40 by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 378,115 shares of the specialty chemicals company’s stock worth $97,524,000 after purchasing an additional 12,943 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of WD-40 by 30.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 1,881 shares of the specialty chemicals company’s stock worth $534,000 after purchasing an additional 438 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in WD-40 by 365.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,841 shares of the specialty chemicals company’s stock valued at $1,248,000 after purchasing an additional 3,801 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in WD-40 by 24.8% during the third quarter. JPMorgan Chase & Co. now owns 53,950 shares of the specialty chemicals company’s stock valued at $13,913,000 after purchasing an additional 10,711 shares during the period. Institutional investors own 91.52% of the company’s stock.

WD-40 Stock Performance

WDFC opened at $217.68 on Thursday. The firm has a market cap of $2.95 billion, a P/E ratio of 41.70 and a beta of 0.03. WD-40 has a 1-year low of $208.00 and a 1-year high of $292.36. The company has a 50 day simple moving average of $234.90 and a two-hundred day simple moving average of $249.33. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.44 and a quick ratio of 1.75.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings results on Tuesday, April 8th. The specialty chemicals company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The business had revenue of $146.10 million during the quarter, compared to analyst estimates of $154.40 million. WD-40 had a return on equity of 31.68% and a net margin of 11.78%. WD-40’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 EPS. Equities analysts forecast that WD-40 will post 5.42 earnings per share for the current fiscal year.

WD-40 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 18th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.73%. The ex-dividend date is Thursday, April 17th. WD-40’s payout ratio is currently 59.97%.

Insider Transactions at WD-40

In other WD-40 news, CFO Sara Kathleen Hyzer acquired 256 shares of the stock in a transaction on Friday, April 11th. The stock was acquired at an average price of $222.83 per share, for a total transaction of $57,044.48. Following the completion of the transaction, the chief financial officer now directly owns 4,072 shares of the company’s stock, valued at $907,363.76. This trade represents a 6.71 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson raised WD-40 to a “strong-buy” rating in a research report on Monday.

About WD-40

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.