Curbstone Financial Management Corp Reduces Stock Holdings in WD-40 (NASDAQ:WDFC)

Curbstone Financial Management Corp reduced its holdings in shares of WD-40 (NASDAQ:WDFC) by 3.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,626 shares of the specialty chemicals company’s stock after selling 210 shares during the period. Curbstone Financial Management Corp’s holdings in WD-40 were worth $1,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. purchased a new stake in shares of WD-40 during the first quarter worth about $33,000. DekaBank Deutsche Girozentrale acquired a new position in WD-40 during the 1st quarter valued at approximately $34,000. Advisors Asset Management Inc. acquired a new position in WD-40 during the 1st quarter valued at approximately $43,000. Covestor Ltd raised its holdings in shares of WD-40 by 57.7% in the first quarter. Covestor Ltd now owns 216 shares of the specialty chemicals company’s stock worth $55,000 after buying an additional 79 shares during the last quarter. Finally, Blue Trust Inc. acquired a new stake in shares of WD-40 during the second quarter worth $67,000. 91.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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 report on Thursday, July 11th.

WD-40 Trading Down 1.6 %

WD-40 stock opened at $254.76 on Friday. The stock has a 50-day moving average price of $256.46 and a 200 day moving average price of $241.90. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 50.05 and a beta of -0.08. WD-40 has a 52 week low of $194.09 and a 52 week high of $278.78. The company has a quick ratio of 1.56, a current ratio of 2.27 and a debt-to-equity ratio of 0.40.

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

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.