M&T Bank Corp Sells 1,007 Shares of WD-40 Company (NASDAQ:WDFC)

M&T Bank Corp cut its stake in shares of WD-40 Company (NASDAQ:WDFC) by 44.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,260 shares of the specialty chemicals company’s stock after selling 1,007 shares during the quarter. M&T Bank Corp’s holdings in WD-40 were worth $307,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Ameriflex Group Inc. bought a new position in WD-40 during the fourth quarter worth about $25,000. TD Waterhouse Canada Inc. bought a new stake in WD-40 during the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC grew its holdings in WD-40 by 210.6% during the 1st quarter. Golden State Wealth Management LLC now owns 146 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 99 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of WD-40 by 96.1% in the first quarter. Versant Capital Management Inc now owns 149 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 73 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in WD-40 by 420.0% during the first quarter. Farther Finance Advisors LLC now owns 156 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 126 shares during the period. Institutional investors and hedge funds own 91.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson dropped their price target on WD-40 from $322.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, July 11th.

WD-40 Price Performance

Shares of NASDAQ WDFC opened at $220.87 on Friday. The firm has a market capitalization of $2.99 billion, a PE ratio of 34.78 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. The stock’s 50-day simple moving average is $238.02 and its 200-day simple moving average is $235.21. WD-40 Company has a fifty-two week low of $208.00 and a fifty-two week high of $292.36.

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

WD-40 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 18th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.70%. The ex-dividend date 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.