Charles Schwab Investment Management Inc. Raises Holdings in WD-40 (NASDAQ:WDFC)

Charles Schwab Investment Management Inc. raised its stake in WD-40 (NASDAQ:WDFC - Free Report) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 145,462 shares of the specialty chemicals company's stock after purchasing an additional 3,960 shares during the period. Charles Schwab Investment Management Inc. owned 1.07% of WD-40 worth $37,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WDFC. Millennium Management LLC grew its stake in WD-40 by 80.5% in the second quarter. Millennium Management LLC now owns 69,650 shares of the specialty chemicals company's stock valued at $15,298,000 after purchasing an additional 31,055 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in WD-40 by 13.7% in the second quarter. Jupiter Asset Management Ltd. now owns 92,005 shares of the specialty chemicals company's stock valued at $20,208,000 after purchasing an additional 11,112 shares during the last quarter. Radnor Capital Management LLC purchased a new stake in shares of WD-40 during the third quarter worth about $1,960,000. Envestnet Asset Management Inc. grew its stake in shares of WD-40 by 11.8% during the second quarter. Envestnet Asset Management Inc. now owns 60,925 shares of the specialty chemicals company's stock worth $13,382,000 after acquiring an additional 6,434 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of WD-40 by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 307,097 shares of the specialty chemicals company's stock worth $67,452,000 after acquiring an additional 5,893 shares during the last quarter. Hedge funds and other institutional investors own 91.52% of the company's stock.

WD-40 Stock Performance

Shares of WD-40 stock traded down $2.42 on Tuesday, reaching $274.35. 71,704 shares of the stock were exchanged, compared to its average volume of 105,835. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.37. WD-40 has a twelve month low of $211.03 and a twelve month high of $292.36. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 53.65 and a beta of -0.07. The business has a 50 day moving average price of $267.71 and a two-hundred day moving average price of $250.93.

WD-40 (NASDAQ:WDFC - Get Free Report) last released its earnings results on Thursday, October 17th. The specialty chemicals company reported $1.23 EPS for the quarter, missing analysts' consensus estimates of $1.34 by ($0.11). WD-40 had a return on equity of 31.53% and a net margin of 11.79%. The firm had revenue of $156.00 million for the quarter, compared to analyst estimates of $149.20 million. During the same period last year, the firm earned $1.21 EPS. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. Analysts anticipate that WD-40 will post 5.36 earnings per share for the current fiscal year.

WD-40 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 18th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Friday, October 18th. WD-40's payout ratio is presently 68.88%.

Insider Transactions at WD-40

In related news, Director William B. Noble sold 800 shares of the business's stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $256.98, for a total transaction of $205,584.00. Following the completion of the sale, the director now directly owns 8,999 shares in the company, valued at approximately $2,312,563.02. The trade was a 8.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.75% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WDFC. DA Davidson restated a "buy" rating and set a $322.00 price target on shares of WD-40 in a research note on Monday, November 18th. Jefferies Financial Group boosted their price target on WD-40 from $250.00 to $280.00 and gave the stock a "hold" rating in a research note on Friday, October 18th.

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.