Point72 Asset Management L.P. Takes $1.07 Million Position in WD-40 (NASDAQ:WDFC)

Point72 Asset Management L.P. purchased a new stake in shares of WD-40 (NASDAQ:WDFC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,400 shares of the specialty chemicals company’s stock, valued at approximately $1,068,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. D.A. Davidson & CO. increased its holdings in shares of WD-40 by 6.3% during the fourth quarter. D.A. Davidson & CO. now owns 845 shares of the specialty chemicals company’s stock valued at $205,000 after acquiring an additional 50 shares in the last quarter. HighTower Advisors LLC increased its holdings in WD-40 by 0.9% in the 4th quarter. HighTower Advisors LLC now owns 6,697 shares of the specialty chemicals company’s stock worth $1,625,000 after buying an additional 57 shares in the last quarter. Inspire Investing LLC increased its holdings in WD-40 by 3.8% in the 4th quarter. Inspire Investing LLC now owns 1,658 shares of the specialty chemicals company’s stock worth $402,000 after buying an additional 61 shares in the last quarter. Truist Financial Corp increased its holdings in WD-40 by 2.4% in the 4th quarter. Truist Financial Corp now owns 2,662 shares of the specialty chemicals company’s stock worth $646,000 after buying an additional 62 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in WD-40 by 0.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,111 shares of the specialty chemicals company’s stock worth $2,454,000 after buying an additional 68 shares in the last quarter. 91.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Sara Kathleen Hyzer acquired 256 shares of the stock in a transaction dated Friday, April 11th. The shares were purchased at an average cost of $222.83 per share, with a total value of $57,044.48. Following the transaction, the chief financial officer now directly owns 4,072 shares in the company, valued at approximately $907,363.76. This represents a 6.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.75% of the company’s stock.

WD-40 Trading Down 1.5%

Shares of NASDAQ:WDFC opened at $243.00 on Thursday. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 46.55 and a beta of 0.17. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.75 and a current ratio of 2.44. The stock’s 50-day simple moving average is $232.72 and its two-hundred day simple moving average is $244.51. WD-40 has a 52-week low of $208.00 and a 52-week high of $292.36.

WD-40 (NASDAQ:WDFC) last announced its earnings results on Tuesday, April 8th. The specialty chemicals company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.05. The business had revenue of $146.10 million for the quarter, compared to analysts’ expectations of $154.40 million. WD-40 had a return on equity of 31.68% and a net margin of 11.78%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the firm posted $1.14 earnings per share. Analysts expect that WD-40 will post 5.42 EPS for the current year.

WD-40 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Friday, April 18th were given a $0.94 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $3.76 annualized dividend and a yield of 1.55%. WD-40’s payout ratio is 59.97%.

Analyst Ratings Changes

Separately, DA Davidson upgraded WD-40 to a “strong-buy” rating in a report on Monday, April 14th.

WD-40 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.