Victory Capital Management Inc. Sells 813 Shares of WD-40 (NASDAQ:WDFC)

Victory Capital Management Inc. lowered its position in WD-40 (NASDAQ:WDFC) by 5.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,051 shares of the specialty chemicals company’s stock after selling 813 shares during the quarter. Victory Capital Management Inc.’s holdings in WD-40 were worth $3,623,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in WD-40 in the 3rd quarter worth $29,000. DekaBank Deutsche Girozentrale bought a new position in WD-40 in the 1st quarter worth $34,000. Advisors Asset Management Inc. bought a new position in WD-40 in the 1st quarter worth $43,000. Covestor Ltd boosted its holdings in WD-40 by 41.3% in the 3rd quarter. Covestor Ltd now owns 226 shares of the specialty chemicals company’s stock worth $58,000 after buying an additional 66 shares during the period. Finally, Blue Trust Inc. bought a new position in WD-40 in the 2nd quarter worth $67,000. Institutional investors own 91.52% of the company’s stock.

WD-40 Stock Up 2.1 %

Shares of NASDAQ WDFC opened at $283.95 on Friday. The firm’s 50-day moving average price is $265.48 and its 200-day moving average price is $248.96. The company has a current ratio of 2.47, a quick ratio of 1.70 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 55.57 and a beta of -0.08. WD-40 has a 12-month low of $211.03 and a 12-month high of $292.36.

WD-40 (NASDAQ:WDFC) last announced its earnings results on Thursday, October 17th. The specialty chemicals company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.11). The business had revenue of $156.00 million for the quarter, compared to analysts’ expectations of $149.20 million. WD-40 had a net margin of 11.79% and a return on equity of 31.53%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.21 earnings per share. On average, equities research analysts anticipate that WD-40 will post 5.36 EPS for the current fiscal year.

WD-40 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 18th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $3.52 annualized dividend and a yield of 1.24%. WD-40’s payout ratio is 68.88%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of WD-40 from $250.00 to $280.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. DA Davidson reiterated a “buy” rating and issued a $322.00 price target on shares of WD-40 in a research note on Monday, November 18th.

Insider Activity at WD-40

In related news, Director William B. Noble sold 800 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $256.98, for a total transaction of $205,584.00. Following the transaction, the director now directly owns 8,999 shares in the company, valued at approximately $2,312,563.02. This represents a 8.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.75% of the stock is currently owned by insiders.

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.