Bank of New York Mellon Corp Sells 4,565 Shares of WD-40 Company (NASDAQ:WDFC)

Bank of New York Mellon Corp cut its stake in shares of WD-40 Company (NASDAQ:WDFC) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 125,329 shares of the specialty chemicals company’s stock after selling 4,565 shares during the period. Bank of New York Mellon Corp owned about 0.93% of WD-40 worth $30,580,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. KBC Group NV boosted its stake in WD-40 by 8.9% during the 1st quarter. KBC Group NV now owns 597 shares of the specialty chemicals company’s stock valued at $146,000 after purchasing an additional 49 shares during the last quarter. D.A. Davidson & CO. increased its stake in WD-40 by 5.9% in the first quarter. D.A. Davidson & CO. now owns 895 shares of the specialty chemicals company’s stock valued at $218,000 after acquiring an additional 50 shares during the last quarter. HighTower Advisors LLC increased its stake in WD-40 by 0.9% in the fourth quarter. HighTower Advisors LLC now owns 6,697 shares of the specialty chemicals company’s stock valued at $1,625,000 after acquiring an additional 57 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of WD-40 by 0.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,111 shares of the specialty chemicals company’s stock valued at $2,454,000 after buying an additional 68 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in WD-40 by 17.0% in the 1st quarter. GAMMA Investing LLC now owns 468 shares of the specialty chemicals company’s stock worth $114,000 after purchasing an additional 68 shares in the last quarter. 91.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, DA Davidson cut their target price on shares of WD-40 from $322.00 to $300.00 and set a “buy” rating for the company in a research report on Friday, July 11th.

WD-40 Stock Down 1.7%

WDFC stock opened at $223.15 on Wednesday. The firm’s fifty day moving average is $238.44 and its 200 day moving average is $235.42. WD-40 Company has a one year low of $208.00 and a one year high of $292.36. The firm has a market cap of $3.02 billion, a PE ratio of 35.14 and a beta of 0.14. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.02 and a current ratio of 2.84.

WD-40 (NASDAQ:WDFC) last posted its earnings results on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.14. WD-40 had a net margin of 14.13% and a return on equity of 31.23%. The company had revenue of $156.92 million for the quarter, compared to analyst estimates of $160.60 million. During the same period in the previous year, the business posted $1.46 EPS. WD-40’s revenue was up 1.2% on a year-over-year basis. On average, research analysts forecast that WD-40 Company will post 5.42 EPS for the current year.

WD-40 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 18th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Friday, July 18th. WD-40’s dividend payout ratio (DPR) is 59.21%.

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.