Proficio Capital Partners LLC Invests $6.54 Million in WD-40 (NASDAQ:WDFC)

Proficio Capital Partners LLC bought a new position in shares of WD-40 (NASDAQ:WDFC - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 26,937 shares of the specialty chemicals company's stock, valued at approximately $6,537,000. Proficio Capital Partners LLC owned 0.20% of WD-40 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in WD-40 by 1.8% in the 3rd quarter. State Street Corp now owns 523,154 shares of the specialty chemicals company's stock valued at $134,911,000 after acquiring an additional 9,418 shares during the period. Geode Capital Management LLC raised its stake in WD-40 by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 378,115 shares of the specialty chemicals company's stock valued at $97,524,000 after acquiring an additional 12,943 shares during the period. Charles Schwab Investment Management Inc. raised its stake in WD-40 by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 150,557 shares of the specialty chemicals company's stock valued at $36,537,000 after acquiring an additional 5,095 shares during the period. Bank of New York Mellon Corp increased its position in shares of WD-40 by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 129,894 shares of the specialty chemicals company's stock valued at $31,523,000 after buying an additional 1,932 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of WD-40 by 5.6% during the fourth quarter. Principal Financial Group Inc. now owns 114,033 shares of the specialty chemicals company's stock valued at $27,673,000 after buying an additional 6,073 shares during the period. 91.52% of the stock is currently owned by institutional investors.

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WD-40 Price Performance

Shares of WDFC traded down $3.77 during midday trading on Thursday, hitting $235.94. 78,340 shares of the company traded hands, compared to its average volume of 98,667. The stock has a 50-day moving average of $235.88 and a 200-day moving average of $253.26. WD-40 has a one year low of $211.03 and a one year high of $292.36. The firm has a market cap of $3.20 billion, a P/E ratio of 45.20 and a beta of -0.10. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.44 and a quick ratio of 1.75.

WD-40 (NASDAQ:WDFC - Get Free Report) last announced its quarterly earnings results on Friday, January 10th. The specialty chemicals company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.10. WD-40 had a return on equity of 31.68% and a net margin of 11.78%. The firm had revenue of $153.30 million for the quarter, compared to analysts' expectations of $147.40 million. During the same period in the prior year, the business posted $1.28 earnings per share. The company's revenue was up 9.2% on a year-over-year basis. As a group, sell-side analysts predict that WD-40 will post 5.42 EPS for the current fiscal year.

WD-40 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 18th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Thursday, April 17th. WD-40's payout ratio is 72.03%.

Analyst Ratings Changes

Separately, DA Davidson reiterated a "buy" rating and set a $322.00 price target on shares of WD-40 in a research report on Monday, January 27th.

WD-40 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.