State of Tennessee Treasury Department Decreases Stake in WD-40 Company (WDFC)
State of Tennessee Treasury Department reduced its holdings in shares of WD-40 Company (NASDAQ:WDFC) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,247 shares of the specialty chemicals company’s stock after selling 774 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.09% of WD-40 worth $1,370,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC boosted its holdings in shares of WD-40 by 45.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,166 shares of the specialty chemicals company’s stock valued at $129,000 after buying an additional 366 shares during the last quarter. Pinebridge Investments L.P. boosted its holdings in shares of WD-40 by 0.6% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,853 shares of the specialty chemicals company’s stock valued at $204,000 after buying an additional 11 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of WD-40 by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,883 shares of the specialty chemicals company’s stock valued at $208,000 after buying an additional 283 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of WD-40 by 3.5% in the 2nd quarter. Amalgamated Bank now owns 1,928 shares of the specialty chemicals company’s stock valued at $213,000 after buying an additional 65 shares during the last quarter. Finally, KCG Holdings Inc. acquired a new stake in shares of WD-40 in the 1st quarter valued at approximately $219,000. 80.29% of the stock is owned by institutional investors.
Shares of WD-40 Company (WDFC) opened at $114.20 on Thursday. The company has a market capitalization of $1,605.20, a P/E ratio of 30.90, a PEG ratio of 2.99 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 twelve month low of $100.60 and a twelve month high of $119.90.
WD-40 (NASDAQ:WDFC) last released its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.97 by $0.04. WD-40 had a return on equity of 39.82% and a net margin of 13.91%. The company had revenue of $96.60 million during the quarter, compared to the consensus estimate of $106.01 million. During the same quarter in the prior year, the firm posted $0.99 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. analysts forecast that WD-40 Company will post 3.85 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 20th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 1.72%. The ex-dividend date was Thursday, October 19th. WD-40’s dividend payout ratio is 52.69%.
WDFC has been the subject of several recent analyst reports. Zacks Investment Research raised WD-40 from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Friday, September 1st. BidaskClub raised WD-40 from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. FBR & Co reissued a “neutral” rating and issued a $122.00 price objective (up previously from $115.00) on shares of WD-40 in a report on Friday, October 20th. Finally, B. Riley reissued a “neutral” rating on shares of WD-40 in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. WD-40 currently has an average rating of “Hold” and an average price target of $117.25.
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In other WD-40 news, VP Jay Rembolt sold 676 shares of the firm’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $112.60, for a total transaction of $76,117.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.90% of the company’s stock.
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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