Geode Capital Management LLC Raises Stock Position in WD-40 (NASDAQ:WDFC)

Geode Capital Management LLC lifted its holdings in shares of WD-40 (NASDAQ:WDFC - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 385,779 shares of the specialty chemicals company's stock after acquiring an additional 7,664 shares during the quarter. Geode Capital Management LLC owned approximately 2.85% of WD-40 worth $93,638,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in WDFC. Coldstream Capital Management Inc. boosted its stake in WD-40 by 3.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,243 shares of the specialty chemicals company's stock valued at $321,000 after purchasing an additional 40 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of WD-40 by 6.3% during the fourth quarter. D.A. Davidson & CO. now owns 845 shares of the specialty chemicals company's stock valued at $205,000 after buying an additional 50 shares during the last quarter. HighTower Advisors LLC increased its holdings in WD-40 by 0.9% in the 4th quarter. HighTower Advisors LLC now owns 6,697 shares of the specialty chemicals company's stock worth $1,625,000 after buying an additional 57 shares in the last quarter. Inspire Investing LLC raised its position in WD-40 by 3.8% in the 4th quarter. Inspire Investing LLC now owns 1,658 shares of the specialty chemicals company's stock worth $402,000 after buying an additional 61 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in shares of WD-40 by 2.4% during the 4th quarter. Truist Financial Corp now owns 2,662 shares of the specialty chemicals company's stock valued at $646,000 after acquiring an additional 62 shares during the last quarter. 91.52% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Separately, DA Davidson raised WD-40 to a "strong-buy" rating in a report on Monday.

Insiders Place Their Bets

In other WD-40 news, CFO Sara Kathleen Hyzer acquired 256 shares of the stock in a transaction on Friday, April 11th. The stock was acquired at an average price of $222.83 per share, for a total transaction of $57,044.48. Following the completion of the transaction, the chief financial officer now directly owns 4,072 shares of the company's stock, valued at $907,363.76. This trade represents a 6.71 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is currently owned by corporate insiders.

WD-40 Stock Performance

Shares of WD-40 stock traded down $4.20 on Wednesday, hitting $216.95. 108,470 shares of the company's stock were exchanged, compared to its average volume of 101,415. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.75 and a current ratio of 2.44. The stock has a market capitalization of $2.94 billion, a PE ratio of 41.60 and a beta of 0.03. WD-40 has a 1 year low of $208.00 and a 1 year high of $292.36. The company has a 50-day simple moving average of $235.29 and a 200-day simple moving average of $249.55.

WD-40 (NASDAQ:WDFC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 8th. The specialty chemicals company reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.05. WD-40 had a return on equity of 31.68% and a net margin of 11.78%. The firm had revenue of $146.10 million for the quarter, compared to analysts' expectations of $154.40 million. During the same period in the previous year, the firm earned $1.14 EPS. The business's quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities analysts anticipate that WD-40 will post 5.42 EPS for the current year.

WD-40 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 18th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.73%. The ex-dividend date is Thursday, April 17th. WD-40's dividend payout ratio (DPR) is presently 59.97%.

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.