Janney Montgomery Scott LLC Cuts Position in WD-40 Company $WDFC

Janney Montgomery Scott LLC reduced its holdings in shares of WD-40 Company (NASDAQ:WDFC) by 13.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,491 shares of the specialty chemicals company’s stock after selling 398 shares during the quarter. Janney Montgomery Scott LLC’s holdings in WD-40 were worth $568,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Alliancebernstein L.P. boosted its stake in WD-40 by 1,767.7% in the first quarter. Alliancebernstein L.P. now owns 448,180 shares of the specialty chemicals company’s stock valued at $109,356,000 after acquiring an additional 424,183 shares during the last quarter. Wellington Management Group LLP purchased a new position in WD-40 in the first quarter valued at about $23,556,000. Invesco Ltd. raised its holdings in shares of WD-40 by 122.0% in the 1st quarter. Invesco Ltd. now owns 162,181 shares of the specialty chemicals company’s stock worth $39,572,000 after purchasing an additional 89,120 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of WD-40 in the 1st quarter worth approximately $13,723,000. Finally, GCQ FUNDS MANAGEMENT PTY Ltd raised its holdings in shares of WD-40 by 245.0% in the 1st quarter. GCQ FUNDS MANAGEMENT PTY Ltd now owns 64,423 shares of the specialty chemicals company’s stock worth $15,719,000 after purchasing an additional 45,747 shares during the period. 91.52% of the stock is owned by hedge funds and other institutional investors.

WD-40 Trading Down 0.5%

Shares of WD-40 stock opened at $189.47 on Friday. WD-40 Company has a 1 year low of $188.43 and a 1 year high of $292.36. The firm has a market cap of $2.56 billion, a PE ratio of 29.84 and a beta of 0.09. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.84 and a quick ratio of 2.02. The company has a 50 day simple moving average of $208.70 and a two-hundred day simple moving average of $223.45.

WD-40 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 20th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $3.76 annualized dividend and a dividend yield of 2.0%. WD-40’s dividend payout ratio (DPR) is 59.21%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on WDFC shares. Weiss Ratings reissued a “hold (c)” rating on shares of WD-40 in a research report on Wednesday, October 8th. DA Davidson dropped their price objective on shares of WD-40 from $322.00 to $300.00 and set a “buy” rating on the stock in a report on Friday, July 11th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, WD-40 currently has an average rating of “Hold” and a consensus target price of $290.00.

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.