The Manufacturers Life Insurance Company Makes New Investment in WD-40 Company $WDFC

The Manufacturers Life Insurance Company purchased a new stake in shares of WD-40 Company (NASDAQ:WDFC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 6,655 shares of the specialty chemicals company’s stock, valued at approximately $1,621,000.

A number of other hedge funds have also modified their holdings of WDFC. Royal Bank of Canada raised its stake in shares of WD-40 by 4.6% in the first quarter. Royal Bank of Canada now owns 20,621 shares of the specialty chemicals company’s stock worth $5,032,000 after purchasing an additional 901 shares during the last quarter. AQR Capital Management LLC boosted its position in WD-40 by 7.4% in the first quarter. AQR Capital Management LLC now owns 6,366 shares of the specialty chemicals company’s stock valued at $1,553,000 after buying an additional 437 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in WD-40 by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,096 shares of the specialty chemicals company’s stock valued at $1,975,000 after buying an additional 343 shares during the last quarter. NewEdge Advisors LLC increased its holdings in WD-40 by 6.6% in the 1st quarter. NewEdge Advisors LLC now owns 1,578 shares of the specialty chemicals company’s stock worth $385,000 after buying an additional 98 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in WD-40 by 476.2% in the 1st quarter. Jones Financial Companies Lllp now owns 3,734 shares of the specialty chemicals company’s stock worth $911,000 after buying an additional 3,086 shares during the period. 91.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on WDFC shares. DA Davidson lifted their price objective on shares of WD-40 from $270.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of WD-40 in a research note on Friday, August 21st. Jefferies Financial Group restated a “hold” rating on shares of WD-40 in a research report on Friday, July 10th. Zacks Research raised shares of WD-40 from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Finally, Northcoast Research raised WD-40 to a “strong-buy” rating in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, WD-40 presently has an average rating of “Buy” and a consensus target price of $305.00.

WD-40 Trading Down 0.8%

WDFC stock opened at $210.46 on Friday. The company’s 50-day simple moving average is $233.12 and its 200-day simple moving average is $223.50. The company has a quick ratio of 1.95, a current ratio of 2.65 and a debt-to-equity ratio of 0.31. WD-40 Company has a 52-week low of $175.38 and a 52-week high of $298.90. The firm has a market cap of $2.82 billion, a P/E ratio of 31.98 and a beta of 0.27.

WD-40 (NASDAQ:WDFC) last announced its quarterly earnings results on Thursday, July 9th. The specialty chemicals company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.75. The firm had revenue of $195.12 million during the quarter, compared to analyst estimates of $172.79 million. WD-40 had a return on equity of 33.53% and a net margin of 13.23%.WD-40’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.54 EPS. WD-40 has set its FY 2026 guidance at 6.050-6.350 EPS. As a group, equities analysts forecast that WD-40 Company will post 6.24 EPS for the current fiscal year.

WD-40 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were given a $1.02 dividend. The ex-dividend date was Friday, July 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.9%. WD-40’s payout ratio is 62.01%.

Insider Activity at WD-40

In other news, insider Patricia Olsem sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $234.72, for a total transaction of $46,944.00. Following the completion of the transaction, the insider directly owned 4,574 shares of the company’s stock, valued at $1,073,609.28. This represents a 4.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.78% of the stock is owned by company insiders.

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.