Arrowstreet Capital Limited Partnership Acquires 37,552 Shares of WD-40 Company $WDFC

Arrowstreet Capital Limited Partnership raised its stake in shares of WD-40 Company (NASDAQ:WDFC) by 420.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 46,492 shares of the specialty chemicals company’s stock after purchasing an additional 37,552 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in WD-40 were worth $10,604,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. boosted its position in shares of WD-40 by 1,767.7% during the first quarter. Alliancebernstein L.P. now owns 448,180 shares of the specialty chemicals company’s stock valued at $109,356,000 after buying an additional 424,183 shares during the last quarter. Norges Bank bought a new position in WD-40 during the 2nd quarter valued at $36,563,000. Laurel Wealth Advisors LLC boosted its holdings in WD-40 by 22,709.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 157,383 shares of the specialty chemicals company’s stock worth $35,897,000 after acquiring an additional 156,693 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of WD-40 in the 1st quarter worth $23,556,000. Finally, Invesco Ltd. raised its holdings in shares of WD-40 by 122.0% in the first quarter. Invesco Ltd. now owns 162,181 shares of the specialty chemicals company’s stock valued at $39,572,000 after purchasing an additional 89,120 shares during the last quarter. 91.52% of the stock is owned by hedge funds and other institutional investors.

WD-40 Price Performance

WD-40 stock opened at $190.76 on Wednesday. The business’s 50 day simple moving average is $195.47 and its 200 day simple moving average is $213.86. WD-40 Company has a 12 month low of $186.19 and a 12 month high of $276.60. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 28.56 and a beta of 0.16. The company has a current ratio of 2.79, a quick ratio of 2.01 and a debt-to-equity ratio of 0.32.

WD-40 (NASDAQ:WDFC) last issued its earnings results on Wednesday, October 22nd. The specialty chemicals company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.30. WD-40 had a return on equity of 31.84% and a net margin of 14.68%.The firm had revenue of $163.47 million for the quarter, compared to analyst estimates of $153.90 million. During the same period in the previous year, the company posted $1.23 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. WD-40 has set its FY 2025 guidance at 5.750-6.150 EPS. Sell-side analysts forecast that WD-40 Company will post 5.42 EPS for the current year.

WD-40 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 20th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, October 20th. This represents a $3.76 annualized dividend and a yield of 2.0%. WD-40’s dividend payout ratio is 56.29%.

Insider Activity

In other WD-40 news, Director David Pendarvis bought 523 shares of WD-40 stock in a transaction dated Thursday, October 30th. The stock was purchased at an average price of $196.37 per share, for a total transaction of $102,701.51. Following the completion of the purchase, the director directly owned 5,862 shares of the company’s stock, valued at approximately $1,151,120.94. This trade represents a 9.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel T. Carter purchased 1,000 shares of the stock in a transaction dated Monday, October 27th. The stock was acquired at an average cost of $199.37 per share, for a total transaction of $199,370.00. Following the transaction, the director owned 7,205 shares of the company’s stock, valued at approximately $1,436,460.85. This trade represents a 16.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 2,640 shares of company stock valued at $522,765. 0.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on WDFC shares. Weiss Ratings restated a “hold (c)” rating on shares of WD-40 in a report on Wednesday, October 8th. DA Davidson set a $300.00 target price on shares of WD-40 in a research report on Wednesday, November 26th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $300.00.

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.