New York State Teachers Retirement System Lowers Position in WD-40 Company (WDFC)
New York State Teachers Retirement System trimmed its position in shares of WD-40 Company (NASDAQ:WDFC) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,960 shares of the specialty chemicals company’s stock after selling 800 shares during the period. New York State Teachers Retirement System owned approximately 0.34% of WD-40 worth $5,367,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Riverhead Capital Management LLC increased its stake in WD-40 by 45.8% during the second quarter. Riverhead Capital Management LLC now owns 1,166 shares of the specialty chemicals company’s stock valued at $129,000 after acquiring an additional 366 shares during the period. Pinebridge Investments L.P. boosted its holdings in WD-40 by 0.6% during the second quarter. Pinebridge Investments L.P. now owns 1,853 shares of the specialty chemicals company’s stock valued at $204,000 after purchasing an additional 11 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in WD-40 by 17.7% during the second quarter. Victory Capital Management Inc. now owns 1,883 shares of the specialty chemicals company’s stock valued at $208,000 after purchasing an additional 283 shares in the last quarter. Amalgamated Bank boosted its holdings in WD-40 by 3.5% during the second quarter. Amalgamated Bank now owns 1,928 shares of the specialty chemicals company’s stock valued at $213,000 after purchasing an additional 65 shares in the last quarter. Finally, KCG Holdings Inc. acquired a new stake in WD-40 during the first quarter valued at approximately $219,000. Hedge funds and other institutional investors own 81.82% of the company’s stock.
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In other news, VP Jay Rembolt sold 582 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $110.00, for a total value of $64,020.00. Following the transaction, the vice president now directly owns 37,632 shares of the company’s stock, valued at approximately $4,139,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.90% of the stock is owned by insiders.
A number of equities research analysts have weighed in on the company. B. Riley reaffirmed a “neutral” rating on shares of WD-40 in a report on Wednesday, November 1st. Zacks Investment Research downgraded WD-40 from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. FBR & Co reaffirmed a “neutral” rating and set a $122.00 price objective (up from $115.00) on shares of WD-40 in a report on Friday, October 20th. Finally, BidaskClub raised WD-40 from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $117.25.
WD-40 Company (NASDAQ:WDFC) opened at $112.90 on Friday. The company has a market capitalization of $1,571.69, a P/E ratio of 30.25, a PEG ratio of 2.93 and a beta of 0.66. The company has a quick ratio of 2.51, a current ratio of 2.98 and a debt-to-equity ratio of 0.96. WD-40 Company has a 1-year low of $100.60 and a 1-year high of $119.90.
WD-40 (NASDAQ:WDFC) last announced its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.97 by $0.04. The business had revenue of $96.60 million for the quarter, compared to the consensus estimate of $106.01 million. WD-40 had a return on equity of 39.82% and a net margin of 13.91%. WD-40’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 EPS. research analysts anticipate that WD-40 Company will post 3.85 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 20th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Thursday, October 19th. WD-40’s payout ratio is currently 52.69%.
WD-40 Company is a global company engaged in developing and selling products, which solve problems in workshops, factories and homes. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia-Pacific. The Company’s Americas segment includes the United States, Canada and Latin America.
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