Quest Partners LLC Makes New Investment in WD-40 (NASDAQ:WDFC)

Quest Partners LLC purchased a new position in shares of WD-40 (NASDAQ:WDFC) during the 2nd quarter, HoldingsChannel reports. The firm purchased 2,491 shares of the specialty chemicals company’s stock, valued at approximately $547,000.

Several other institutional investors and hedge funds have also made changes to their positions in WDFC. Profit Investment Management LLC boosted its position in shares of WD-40 by 0.3% in the 2nd quarter. Profit Investment Management LLC now owns 16,067 shares of the specialty chemicals company’s stock valued at $3,529,000 after purchasing an additional 43 shares during the period. Bridge City Capital LLC increased its stake in WD-40 by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 5,991 shares of the specialty chemicals company’s stock valued at $1,518,000 after purchasing an additional 45 shares in the last quarter. Arizona State Retirement System increased its stake in WD-40 by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 3,794 shares of the specialty chemicals company’s stock valued at $833,000 after purchasing an additional 68 shares in the last quarter. Covestor Ltd grew its holdings in WD-40 by 57.7% during the 1st quarter. Covestor Ltd now owns 216 shares of the specialty chemicals company’s stock valued at $55,000 after buying an additional 79 shares during the last quarter. Finally, Swiss National Bank grew its holdings in WD-40 by 0.4% during the 1st quarter. Swiss National Bank now owns 26,800 shares of the specialty chemicals company’s stock valued at $6,789,000 after buying an additional 100 shares during the last quarter. 91.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

WD-40 Price Performance

Shares of WD-40 stock opened at $252.85 on Friday. WD-40 has a twelve month low of $194.09 and a twelve month high of $278.78. The stock has a market capitalization of $3.43 billion, a P/E ratio of 49.76 and a beta of -0.08. The company has a current ratio of 2.27, a quick ratio of 1.56 and a debt-to-equity ratio of 0.40. The business’s fifty day moving average price is $250.63 and its 200 day moving average price is $241.92.

WD-40 (NASDAQ:WDFC) last released 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. WD-40 had a return on equity of 32.43% and a net margin of 12.07%. The company had revenue of $155.05 million for the quarter, compared to analyst estimates of $145.80 million. During the same period last year, the company posted $1.38 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. As a group, research analysts anticipate that WD-40 will post 5.22 earnings per share for the current year.

WD-40 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 19th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Friday, July 19th. WD-40’s payout ratio is 69.16%.

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.