Charles Schwab Investment Management Inc. Decreases Stock Position in WD-40 Company $WDFC

Charles Schwab Investment Management Inc. reduced its position in WD-40 Company (NASDAQ:WDFC) by 2.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,592 shares of the specialty chemicals company’s stock after selling 2,965 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.09% of WD-40 worth $36,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Geneva Capital Management LLC grew its position in shares of WD-40 by 18.7% in the first quarter. Geneva Capital Management LLC now owns 248,197 shares of the specialty chemicals company’s stock valued at $60,560,000 after purchasing an additional 39,137 shares in the last quarter. Millennium Management LLC grew its position in shares of WD-40 by 206.9% in the fourth quarter. Millennium Management LLC now owns 158,156 shares of the specialty chemicals company’s stock valued at $38,381,000 after purchasing an additional 106,617 shares in the last quarter. GAMMA Investing LLC grew its position in shares of WD-40 by 28,448.0% in the first quarter. GAMMA Investing LLC now owns 114,192 shares of the specialty chemicals company’s stock valued at $27,863,000 after purchasing an additional 113,792 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of WD-40 in the fourth quarter valued at $17,903,000. Finally, Invesco Ltd. grew its position in shares of WD-40 by 9.5% in the fourth quarter. Invesco Ltd. now owns 73,061 shares of the specialty chemicals company’s stock valued at $17,730,000 after purchasing an additional 6,330 shares in the last quarter. 91.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, DA Davidson reduced their price target on 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 Price Performance

NASDAQ:WDFC opened at $218.81 on Tuesday. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 34.46 and a beta of 0.15. WD-40 Company has a 52-week low of $208.00 and a 52-week high of $292.36. The stock has a fifty day moving average of $226.90 and a 200 day moving average of $232.48. 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 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. The company had revenue of $156.92 million during the quarter, compared to analyst estimates of $160.60 million. WD-40 had a return on equity of 31.23% and a net margin of 14.13%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company earned $1.46 earnings per share. On average, research analysts expect that WD-40 Company will post 5.42 EPS for the current fiscal year.

WD-40 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 18th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, July 18th. This represents a $3.76 annualized dividend and a yield of 1.7%. WD-40’s dividend payout ratio (DPR) is currently 59.21%.

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.