WD-40 Company $WDFC Position Reduced by Dividend Assets Capital LLC

Dividend Assets Capital LLC decreased its position in shares of WD-40 Company (NASDAQ:WDFC) by 72.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,281 shares of the specialty chemicals company’s stock after selling 8,797 shares during the period. Dividend Assets Capital LLC’s holdings in WD-40 were worth $669,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of WD-40 by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 1,650,622 shares of the specialty chemicals company’s stock valued at $325,007,000 after purchasing an additional 47,528 shares during the period. Alliancebernstein L.P. grew its stake in shares of WD-40 by 6.4% in the 3rd quarter. Alliancebernstein L.P. now owns 533,738 shares of the specialty chemicals company’s stock worth $105,467,000 after purchasing an additional 32,333 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of WD-40 by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 405,117 shares of the specialty chemicals company’s stock worth $79,778,000 after purchasing an additional 2,072 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of WD-40 by 24.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 333,505 shares of the specialty chemicals company’s stock worth $76,069,000 after purchasing an additional 65,423 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in WD-40 by 62.5% during the fourth quarter. First Trust Advisors LP now owns 289,954 shares of the specialty chemicals company’s stock valued at $57,092,000 after purchasing an additional 111,559 shares during the last quarter. 91.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WDFC has been the topic of several recent research reports. William Blair assumed coverage on shares of WD-40 in a research report on Monday, April 6th. They issued an “outperform” rating on the stock. Weiss Ratings downgraded WD-40 from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. DA Davidson reduced their price objective on WD-40 from $300.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Finally, Northcoast Research upgraded WD-40 to a “strong-buy” rating in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $270.00.

WD-40 Price Performance

WDFC stock opened at $245.83 on Monday. WD-40 Company has a one year low of $175.38 and a one year high of $253.24. The firm has a 50-day moving average of $216.97 and a two-hundred day moving average of $217.78. The firm has a market capitalization of $3.31 billion, a PE ratio of 41.81 and a beta of 0.26. The company has a current ratio of 2.83, a quick ratio of 1.98 and a debt-to-equity ratio of 0.32.

WD-40 (NASDAQ:WDFC) last released its earnings results on Thursday, April 9th. The specialty chemicals company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.11. WD-40 had a net margin of 12.57% and a return on equity of 30.23%. The business had revenue of $161.67 million for the quarter, compared to the consensus estimate of $154.90 million. During the same period last year, the firm posted $1.32 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, analysts forecast that WD-40 Company will post 5.99 earnings per share for the current year.

WD-40 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, July 17th. WD-40’s payout ratio is presently 69.39%.

WD-40 Profile

WD-40 Company, headquartered in San Diego, California, is best known for its flagship WD-40® Multi-Use Product, a water-displacing spray used for lubrication, rust prevention and cleaning. Since its introduction in 1953 by the Rocket Chemical Company, the WD-40 brand has become a household and industrial staple. Over time, the company has broadened its portfolio to include complementary maintenance and cleaning brands such as 3-IN-ONE® oils, Lava® hand cleaners, Solvol® solvents, Spot Shot® stain removers and X-14® cleaning products.

WD-40 Company distributes its products in more than 176 countries through retail, industrial and automotive channels.