WD-40 Company $WDFC Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in WD-40 Company (NASDAQ:WDFC) by 1.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 399,186 shares of the specialty chemicals company’s stock after buying an additional 5,621 shares during the quarter. Geode Capital Management LLC’s holdings in WD-40 were worth $91,059,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in shares of WD-40 by 3.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,485 shares of the specialty chemicals company’s stock valued at $567,000 after purchasing an additional 78 shares during the period. Rathbones Group PLC increased its holdings in WD-40 by 30.2% in the second quarter. Rathbones Group PLC now owns 3,385 shares of the specialty chemicals company’s stock valued at $772,000 after buying an additional 785 shares in the last quarter. Fox Run Management L.L.C. raised its position in shares of WD-40 by 50.1% in the second quarter. Fox Run Management L.L.C. now owns 3,122 shares of the specialty chemicals company’s stock worth $712,000 after acquiring an additional 1,042 shares during the period. Texas Yale Capital Corp. boosted its stake in shares of WD-40 by 1.2% during the 2nd quarter. Texas Yale Capital Corp. now owns 11,615 shares of the specialty chemicals company’s stock worth $2,649,000 after acquiring an additional 137 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of WD-40 by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 125,779 shares of the specialty chemicals company’s stock valued at $28,689,000 after acquiring an additional 450 shares during the period. 91.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at WD-40

In other news, Director Daniel T. Carter acquired 1,000 shares of the firm’s stock in a transaction on Monday, October 27th. The shares were bought at an average price of $199.37 per share, for a total transaction of $199,370.00. Following the acquisition, the director owned 7,205 shares of the company’s stock, valued at approximately $1,436,460.85. This trade represents a 16.12% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Eric Etchart bought 500 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were acquired at an average cost of $194.02 per share, with a total value of $97,010.00. Following the acquisition, the director directly owned 8,370 shares of the company’s stock, valued at approximately $1,623,947.40. This represents a 6.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 2,640 shares of company stock valued at $522,765. Insiders own 0.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of WD-40 in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $300.00.

WD-40 Stock Performance

WDFC opened at $199.02 on Friday. The firm’s fifty day simple moving average is $198.05 and its two-hundred day simple moving average is $218.04. WD-40 Company has a 52-week low of $187.40 and a 52-week high of $289.10. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 29.79 and a beta of 0.18. The company has a quick ratio of 2.01, a current ratio of 2.79 and a debt-to-equity ratio of 0.32.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Wednesday, October 22nd. The specialty chemicals company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.30. The firm had revenue of $163.47 million during the quarter, compared to the consensus estimate of $153.90 million. WD-40 had a net margin of 14.68% and a return on equity of 31.84%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS. WD-40 has set its FY 2025 guidance at 5.750-6.150 EPS. Equities analysts anticipate that WD-40 Company will post 5.42 earnings per share for the current fiscal year.

WD-40 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 20th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, October 20th. WD-40’s dividend payout ratio (DPR) is 56.29%.

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.