Acadian Asset Management LLC Sells 3,836 Shares of WD-40 (NASDAQ:WDFC)

Acadian Asset Management LLC reduced its holdings in WD-40 (NASDAQ:WDFC) by 94.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 227 shares of the specialty chemicals company’s stock after selling 3,836 shares during the quarter. Acadian Asset Management LLC’s holdings in WD-40 were worth $49,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of WD-40 during the fourth quarter worth $19,697,000. Coldstream Capital Management Inc. acquired a new stake in shares of WD-40 in the 4th quarter valued at about $293,000. Quest Partners LLC acquired a new stake in shares of WD-40 in the 4th quarter valued at about $253,000. Fortis Capital Advisors LLC bought a new stake in shares of WD-40 in the fourth quarter valued at about $263,000. Finally, TD Asset Management Inc boosted its position in shares of WD-40 by 23.4% during the fourth quarter. TD Asset Management Inc now owns 15,800 shares of the specialty chemicals company’s stock worth $3,777,000 after buying an additional 3,000 shares during the period. 91.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson cut their target price on WD-40 from $313.00 to $303.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th.

WD-40 Stock Down 1.8 %

WD-40 stock opened at $255.91 on Friday. The company has a current ratio of 2.27, a quick ratio of 1.56 and a debt-to-equity ratio of 0.40. WD-40 has a 1-year low of $194.09 and a 1-year high of $278.78. The company has a fifty day simple moving average of $255.72 and a 200 day simple moving average of $241.55. The company has a market cap of $3.47 billion, a P/E ratio of 50.28 and a beta of -0.08.

WD-40 (NASDAQ:WDFC) last released its earnings results on Wednesday, July 10th. The specialty chemicals company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.07. The business had revenue of $155.05 million for the quarter, compared to the consensus estimate of $145.80 million. WD-40 had a return on equity of 32.43% and a net margin of 12.07%. WD-40’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 earnings per share. Research analysts anticipate that WD-40 will post 5.22 earnings per share for the current fiscal year.

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.