WD-40 Company $WDFC Shares Sold by Dividend Assets Capital LLC

Dividend Assets Capital LLC trimmed its position in WD-40 Company (NASDAQ:WDFC) by 72.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,281 shares of the specialty chemicals company’s stock after selling 8,797 shares during the quarter. Dividend Assets Capital LLC’s holdings in WD-40 were worth $669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in WDFC. Balyasny Asset Management L.P. acquired a new position in shares of WD-40 in the 4th quarter valued at about $29,291,000. Royce & Associates LP raised its stake in WD-40 by 739.8% during the fourth quarter. Royce & Associates LP now owns 165,187 shares of the specialty chemicals company’s stock worth $32,525,000 after acquiring an additional 145,517 shares during the period. First Trust Advisors LP raised its stake in WD-40 by 62.5% during the fourth quarter. First Trust Advisors LP now owns 289,954 shares of the specialty chemicals company’s stock worth $57,092,000 after acquiring an additional 111,559 shares during the period. GCQ FUNDS MANAGEMENT PTY Ltd lifted its holdings in WD-40 by 89.2% in the fourth quarter. GCQ FUNDS MANAGEMENT PTY Ltd now owns 221,225 shares of the specialty chemicals company’s stock worth $43,559,000 after acquiring an additional 104,282 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in WD-40 in the third quarter valued at approximately $13,817,000. 91.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on WDFC shares. DA Davidson lowered their target price on WD-40 from $300.00 to $270.00 and set a “buy” rating for the company in a report on Friday, April 10th. Weiss Ratings lowered WD-40 from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Northcoast Research upgraded WD-40 to a “strong-buy” rating in a research note on Wednesday, June 24th. Finally, William Blair initiated coverage on WD-40 in a research report on Monday, April 6th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $270.00.

WD-40 Price Performance

Shares of NASDAQ:WDFC opened at $245.83 on Monday. The firm’s 50 day moving average is $216.97 and its two-hundred day moving average is $217.78. WD-40 Company has a 52 week low of $175.38 and a 52 week high of $253.24. The firm has a market capitalization of $3.31 billion, a P/E ratio of 41.81 and a beta of 0.26. The company has a current ratio of 2.83, a quick ratio of 1.98 and a debt-to-equity ratio of 0.32.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Thursday, April 9th. The specialty chemicals company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. WD-40 had a return on equity of 30.23% and a net margin of 12.57%.The company had revenue of $161.67 million for the quarter, compared to analysts’ expectations of $154.90 million. During the same quarter in the previous year, the company posted $1.32 earnings per share. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts anticipate that WD-40 Company will post 5.99 earnings per share for the current year.

WD-40 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, July 17th. WD-40’s payout ratio is currently 69.39%.

WD-40 Company Profile

WD-40 Company, headquartered in San Diego, California, is best known for its flagship WD-40® Multi-Use Product, a water-displacing spray used for lubrication, rust prevention and cleaning. Since its introduction in 1953 by the Rocket Chemical Company, the WD-40 brand has become a household and industrial staple. Over time, the company has broadened its portfolio to include complementary maintenance and cleaning brands such as 3-IN-ONE® oils, Lava® hand cleaners, Solvol® solvents, Spot Shot® stain removers and X-14® cleaning products.

WD-40 Company distributes its products in more than 176 countries through retail, industrial and automotive channels.