Legal & General Group Plc boosted its stake in shares of WD-40 (NASDAQ:WDFC) by 7.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 32,119 shares of the specialty chemicals company’s stock after buying an additional 2,123 shares during the period. Legal & General Group Plc’s holdings in WD-40 were worth $5,534,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in WDFC. Acropolis Investment Management LLC purchased a new position in WD-40 during the third quarter valued at approximately $103,000. Stratos Wealth Partners LTD. purchased a new position in WD-40 during the third quarter valued at approximately $103,000. Benjamin F. Edwards & Company Inc. raised its position in WD-40 by 172.8% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 832 shares of the specialty chemicals company’s stock valued at $143,000 after acquiring an additional 527 shares in the last quarter. Hollencrest Capital Management purchased a new position in WD-40 during the third quarter valued at approximately $202,000. Finally, Janney Montgomery Scott LLC purchased a new position in WD-40 during the third quarter valued at approximately $208,000. Institutional investors own 89.87% of the company’s stock.
Shares of WDFC opened at $169.99 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.53 and a debt-to-equity ratio of 0.40. WD-40 has a 12 month low of $116.10 and a 12 month high of $187.50. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 41.16, a price-to-earnings-growth ratio of 4.06 and a beta of 0.39.
WD-40 (NASDAQ:WDFC) last issued its quarterly earnings data on Wednesday, January 9th. The specialty chemicals company reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. WD-40 had a return on equity of 38.46% and a net margin of 15.98%. The company had revenue of $101.30 million for the quarter, compared to analyst estimates of $99.10 million. During the same period last year, the company earned $0.90 earnings per share. WD-40’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts anticipate that WD-40 will post 4.53 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Tuesday, December 18th will be issued a $0.61 dividend. This is a positive change from WD-40’s previous quarterly dividend of $0.54. This represents a $2.44 annualized dividend and a yield of 1.44%. The ex-dividend date is Thursday, January 17th. WD-40’s dividend payout ratio (DPR) is presently 52.30%.
Several brokerages recently weighed in on WDFC. BidaskClub upgraded WD-40 from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 25th. Zacks Investment Research cut WD-40 from a “hold” rating to a “sell” rating in a research report on Friday, December 14th. Finally, DA Davidson initiated coverage on WD-40 in a research report on Friday, December 7th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $149.67.
In other WD-40 news, VP Stanley Sewitch, Jr. sold 2,167 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $166.15, for a total value of $360,047.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael L. Freeman sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $167.36, for a total value of $1,004,160.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,720 shares of company stock worth $2,630,634. 2.09% of the stock is owned by corporate insiders.
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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 offers multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name for various consumer uses and industrial applications; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bicycle maintenance products comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics under the WD-40 Bike brand name.
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