Bayforest Capital Ltd Lowers Position in WD-40 Company $WDFC

Bayforest Capital Ltd lessened its holdings in WD-40 Company (NASDAQ:WDFC) by 44.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,111 shares of the specialty chemicals company’s stock after selling 900 shares during the quarter. Bayforest Capital Ltd’s holdings in WD-40 were worth $253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in WD-40 by 0.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 568,302 shares of the specialty chemicals company’s stock valued at $138,666,000 after purchasing an additional 4,672 shares during the period. Alliancebernstein L.P. grew its stake in WD-40 by 1,767.7% in the 1st quarter. Alliancebernstein L.P. now owns 448,180 shares of the specialty chemicals company’s stock valued at $109,356,000 after purchasing an additional 424,183 shares during the period. Geneva Capital Management LLC grew its stake in WD-40 by 18.7% in the 1st 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 during the period. Invesco Ltd. grew its stake in WD-40 by 122.0% in the 1st quarter. Invesco Ltd. now owns 162,181 shares of the specialty chemicals company’s stock valued at $39,572,000 after purchasing an additional 89,120 shares during the period. Finally, Wellington Management Group LLP bought a new position in WD-40 in the 1st quarter valued at $23,556,000. Institutional investors own 91.52% of the company’s stock.

Analysts Set New Price Targets

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

WD-40 Stock Down 0.5%

WDFC stock opened at $189.47 on Friday. The company has a quick ratio of 2.02, a current ratio of 2.84 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $2.56 billion, a PE ratio of 29.84 and a beta of 0.09. WD-40 Company has a twelve month low of $188.43 and a twelve month high of $292.36. The stock 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. Stockholders of record on Monday, October 20th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, October 20th. 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.