Bayforest Capital Ltd Sells 900 Shares of WD-40 Company $WDFC

Bayforest Capital Ltd lessened its holdings in shares of WD-40 Company (NASDAQ:WDFC) by 44.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,111 shares of the specialty chemicals company’s stock after selling 900 shares during the quarter. Bayforest Capital Ltd’s holdings in WD-40 were worth $253,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of WD-40 by 0.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 568,302 shares of the specialty chemicals company’s stock valued at $138,666,000 after acquiring an additional 4,672 shares during the last quarter. Alliancebernstein L.P. lifted its position in WD-40 by 1,767.7% in the 1st quarter. Alliancebernstein L.P. now owns 448,180 shares of the specialty chemicals company’s stock worth $109,356,000 after buying an additional 424,183 shares during the last quarter. Geneva Capital Management LLC lifted its position in WD-40 by 18.7% in the 1st quarter. Geneva Capital Management LLC now owns 248,197 shares of the specialty chemicals company’s stock worth $60,560,000 after buying an additional 39,137 shares during the last quarter. Invesco Ltd. lifted its position in WD-40 by 122.0% in the 1st quarter. Invesco Ltd. now owns 162,181 shares of the specialty chemicals company’s stock worth $39,572,000 after buying an additional 89,120 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in WD-40 in the 1st quarter worth approximately $23,556,000. Institutional investors own 91.52% of the company’s stock.

WD-40 Stock Performance

Shares of WDFC stock opened at $189.47 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.02 and a current ratio of 2.84. WD-40 Company has a fifty-two week low of $188.43 and a fifty-two week high of $292.36. The stock has a 50 day moving average price of $208.70 and a two-hundred day moving average price of $223.45. The company has a market capitalization of $2.56 billion, a P/E ratio of 29.84 and a beta of 0.09.

WD-40 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 20th will be given a $0.94 dividend. The ex-dividend date is Monday, October 20th. This represents a $3.76 annualized dividend and a yield of 2.0%. WD-40’s payout ratio is presently 59.21%.

Analyst Upgrades and Downgrades

WDFC has been the subject of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of WD-40 in a research report on Wednesday, October 8th. DA Davidson dropped their target price on WD-40 from $322.00 to $300.00 and set a “buy” rating for the company in a research report on Friday, July 11th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $290.00.

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.