Bank of America Corp DE raised its position in shares of WD-40 Company (NASDAQ:WDFC) by 11.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,824 shares of the specialty chemicals company’s stock after buying an additional 4,691 shares during the period. Bank of America Corp DE owned 0.33% of WD-40 worth $4,993,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its position in WD-40 by 129,764.4% in the first quarter. BlackRock Inc. now owns 1,698,626 shares of the specialty chemicals company’s stock worth $185,067,000 after buying an additional 1,697,318 shares during the period. Norges Bank purchased a new position in shares of WD-40 during the fourth quarter worth about $15,872,000. Conestoga Capital Advisors LLC increased its position in shares of WD-40 by 570.3% in the first quarter. Conestoga Capital Advisors LLC now owns 155,185 shares of the specialty chemicals company’s stock worth $16,907,000 after buying an additional 132,035 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of WD-40 by 29.6% in the first quarter. Neuberger Berman Group LLC now owns 463,380 shares of the specialty chemicals company’s stock worth $50,485,000 after buying an additional 105,697 shares during the last quarter. Finally, Legato Capital Management LLC increased its position in shares of WD-40 by 10,795.0% in the first quarter. Legato Capital Management LLC now owns 73,868 shares of the specialty chemicals company’s stock worth $678,000 after buying an additional 73,190 shares during the last quarter. 79.42% of the stock is currently owned by institutional investors and hedge funds.
WD-40 Company (NASDAQ WDFC) opened at 105.25 on Friday. The stock has a 50 day moving average of $106.95 and a 200-day moving average of $107.44. WD-40 Company has a 12 month low of $100.60 and a 12 month high of $121.10. The stock has a market cap of $1.48 billion, a P/E ratio of 28.44 and a beta of 0.73.
WD-40 (NASDAQ:WDFC) last announced its earnings results on Monday, July 10th. The specialty chemicals company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. The business had revenue of $98.20 million for the quarter, compared to analyst estimates of $99.09 million. WD-40 had a net margin of 13.85% and a return on equity of 39.64%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. On average, equities analysts forecast that WD-40 Company will post $3.68 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 21st were given a dividend of $0.49 per share. The ex-dividend date was Wednesday, July 19th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.86%. WD-40’s dividend payout ratio (DPR) is presently 52.97%.
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A number of brokerages have recently issued reports on WDFC. BidaskClub raised shares of WD-40 from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research downgraded shares of WD-40 from a “buy” rating to a “hold” rating in a research report on Wednesday, June 7th. Finally, FBR & Co reaffirmed a “marketperform” rating on shares of WD-40 in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $111.25.
In other news, VP Jay Rembolt sold 621 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $108.00, for a total transaction of $67,068.00. Following the transaction, the vice president now directly owns 36,428 shares in the company, valued at $3,934,224. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 1,854 shares of company stock worth $203,928. Insiders own 3.90% of the company’s stock.
WD-40 Company is a global company engaged in developing and selling products, which solve problems in workshops, factories and homes. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia-Pacific. The Company’s Americas segment includes the United States, Canada and Latin America.
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