WD-40 (NASDAQ:WDFC) Shares Bought by Covestor Ltd

Covestor Ltd increased its holdings in shares of WD-40 (NASDAQ:WDFC) by 41.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 226 shares of the specialty chemicals company’s stock after acquiring an additional 66 shares during the period. Covestor Ltd’s holdings in WD-40 were worth $58,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of WDFC. Jupiter Asset Management Ltd. acquired a new stake in shares of WD-40 during the 1st quarter valued at about $20,491,000. Millennium Management LLC grew its position in shares of WD-40 by 80.5% during the 2nd quarter. Millennium Management LLC now owns 69,650 shares of the specialty chemicals company’s stock valued at $15,298,000 after acquiring an additional 31,055 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of WD-40 during the 1st quarter valued at about $4,180,000. Lazard Asset Management LLC grew its position in shares of WD-40 by 83.6% during the 1st quarter. Lazard Asset Management LLC now owns 26,226 shares of the specialty chemicals company’s stock valued at $6,642,000 after acquiring an additional 11,939 shares during the period. Finally, Radnor Capital Management LLC acquired a new stake in shares of WD-40 during the 3rd quarter valued at about $1,960,000. 91.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. DA Davidson raised their target price on WD-40 from $303.00 to $322.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Jefferies Financial Group lifted their price objective on WD-40 from $250.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, October 18th.

WD-40 Trading Down 2.0 %

WDFC stock opened at $280.38 on Friday. The company has a current ratio of 2.47, a quick ratio of 1.70 and a debt-to-equity ratio of 0.37. WD-40 has a 12-month low of $211.03 and a 12-month high of $292.36. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 54.87 and a beta of -0.08. The business’s 50-day moving average is $262.31 and its 200 day moving average is $246.61.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings data 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). WD-40 had a return on equity of 31.53% and a net margin of 11.79%. The firm had revenue of $156.00 million during the quarter, compared to analyst estimates of $149.20 million. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts anticipate that WD-40 will post 5.36 EPS for the current fiscal year.

WD-40 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 18th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Friday, October 18th. WD-40’s dividend payout ratio (DPR) is 68.88%.

Insiders Place Their Bets

In other WD-40 news, Director William B. Noble sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $289.70, for a total value of $289,700.00. Following the transaction, the director now directly owns 7,999 shares of the company’s stock, valued at $2,317,310.30. This trade represents a 11.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

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.