Raymond James Financial Inc. purchased a new position in shares of WD-40 (NASDAQ:WDFC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 73,772 shares of the specialty chemicals company's stock, valued at approximately $17,903,000. Raymond James Financial Inc. owned 0.54% of WD-40 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in WDFC. Vanguard Group Inc. increased its stake in WD-40 by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 1,627,684 shares of the specialty chemicals company's stock worth $395,006,000 after buying an additional 16,763 shares during the period. Geode Capital Management LLC boosted its holdings in WD-40 by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 385,779 shares of the specialty chemicals company's stock valued at $93,638,000 after purchasing an additional 7,664 shares during the period. Renaissance Technologies LLC grew its stake in WD-40 by 1.0% during the 4th quarter. Renaissance Technologies LLC now owns 227,661 shares of the specialty chemicals company's stock worth $55,249,000 after purchasing an additional 2,300 shares in the last quarter. Norges Bank purchased a new stake in WD-40 during the 4th quarter worth about $54,571,000. Finally, Charles Schwab Investment Management Inc. raised its position 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 purchasing an additional 5,095 shares in the last quarter. Institutional investors and hedge funds own 91.52% of the company's stock.
Analyst Upgrades and Downgrades
Separately, DA Davidson upgraded shares of WD-40 to a "strong-buy" rating in a research note on Monday, April 14th.
View Our Latest Stock Report on WDFC
WD-40 Stock Down 0.3 %
Shares of WD-40 stock traded down $0.76 during trading on Wednesday, hitting $224.16. 98,559 shares of the stock were exchanged, compared to its average volume of 101,204. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 42.94 and a beta of 0.03. The firm's 50-day moving average price is $234.21 and its 200 day moving average price is $248.32. 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 has a 12-month low of $208.00 and a 12-month high of $292.36.
WD-40 (NASDAQ:WDFC - Get Free Report) last released its quarterly earnings data on Tuesday, April 8th. The specialty chemicals company reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.05. The business had revenue of $146.10 million for the quarter, compared to the consensus estimate of $154.40 million. WD-40 had a return on equity of 31.68% and a net margin of 11.78%. The business's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.14 EPS. As a group, analysts forecast that WD-40 will post 5.42 earnings per share for the current fiscal year.
WD-40 Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 18th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Thursday, April 17th. WD-40's payout ratio is 59.97%.
Insider Activity at WD-40
In other news, CFO Sara Kathleen Hyzer acquired 256 shares of the company's stock in a transaction on Friday, April 11th. The shares were bought at an average price of $222.83 per share, with a total value of $57,044.48. Following the completion of the acquisition, the chief financial officer now owns 4,072 shares in the company, valued at $907,363.76. This trade represents a 6.71 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.75% of the company's stock.
WD-40 Company Profile
(
Free Report)
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.
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