Jupiter Asset Management Ltd. Reduces Stock Position in WD-40 Company $WDFC

Jupiter Asset Management Ltd. trimmed its position in WD-40 Company (NASDAQ:WDFC) by 60.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,076 shares of the specialty chemicals company’s stock after selling 42,306 shares during the period. Jupiter Asset Management Ltd.’s holdings in WD-40 were worth $6,404,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Ameritas Advisory Services LLC purchased a new stake in shares of WD-40 during the second quarter worth about $30,000. Covestor Ltd boosted its position in WD-40 by 49.3% during the first quarter. Covestor Ltd now owns 306 shares of the specialty chemicals company’s stock worth $75,000 after acquiring an additional 101 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in WD-40 by 17.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 522 shares of the specialty chemicals company’s stock worth $127,000 after acquiring an additional 76 shares during the period. State of Wyoming raised its holdings in WD-40 by 22.2% in the 1st quarter. State of Wyoming now owns 566 shares of the specialty chemicals company’s stock valued at $138,000 after acquiring an additional 103 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of WD-40 during the 1st quarter worth $146,000. 91.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of WD-40 in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.00.

Insider Transactions at WD-40

In other WD-40 news, Director Daniel T. Carter purchased 1,000 shares of WD-40 stock in a transaction on Monday, October 27th. The shares were purchased at an average cost of $199.37 per share, with a total value of $199,370.00. Following the completion of the transaction, the director directly owned 7,205 shares in the company, valued at approximately $1,436,460.85. This represents a 16.12% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric Etchart acquired 500 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was acquired at an average cost of $194.02 per share, with a total value of $97,010.00. Following the transaction, the director directly owned 8,370 shares of the company’s stock, valued at approximately $1,623,947.40. This represents a 6.35% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 2,640 shares of company stock valued at $522,765 in the last three months. 0.75% of the stock is owned by company insiders.

WD-40 Trading Down 1.4%

WDFC stock opened at $197.98 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.79 and a debt-to-equity ratio of 0.32. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 29.64 and a beta of 0.18. The business has a fifty day simple moving average of $200.15 and a 200-day simple moving average of $219.37. WD-40 Company has a 52 week low of $187.40 and a 52 week high of $290.53.

WD-40 (NASDAQ:WDFC) last issued its earnings results on Wednesday, October 22nd. The specialty chemicals company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.30. The firm had revenue of $163.47 million for the quarter, compared to analysts’ expectations of $153.90 million. WD-40 had a return on equity of 31.84% and a net margin of 14.68%.The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.23 earnings per share. WD-40 has set its FY 2025 guidance at 5.750-6.150 EPS. On average, equities research analysts expect that WD-40 Company will post 5.42 EPS for the current year.

WD-40 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 20th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Monday, October 20th. WD-40’s dividend payout ratio is 56.29%.

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.