WD-40 Company $WDFC Stake Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in WD-40 Company (NASDAQ:WDFC) by 0.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 125,779 shares of the specialty chemicals company’s stock after buying an additional 450 shares during the quarter. Bank of New York Mellon Corp’s holdings in WD-40 were worth $28,689,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of WDFC. Xponance Inc. grew its position in shares of WD-40 by 5.4% during the first quarter. Xponance Inc. now owns 1,037 shares of the specialty chemicals company’s stock worth $253,000 after acquiring an additional 53 shares during the last quarter. Private Advisor Group LLC grew its position in WD-40 by 3.9% in the 1st quarter. Private Advisor Group LLC now owns 1,482 shares of the specialty chemicals company’s stock worth $362,000 after purchasing an additional 56 shares during the last quarter. Meridian Wealth Management LLC increased its stake in shares of WD-40 by 3.9% in the first quarter. Meridian Wealth Management LLC now owns 1,610 shares of the specialty chemicals company’s stock valued at $393,000 after purchasing an additional 60 shares during the period. Bank of Montreal Can raised its holdings in shares of WD-40 by 2.8% during the second quarter. Bank of Montreal Can now owns 2,672 shares of the specialty chemicals company’s stock valued at $609,000 after buying an additional 74 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of WD-40 by 17.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 522 shares of the specialty chemicals company’s stock valued at $127,000 after buying an additional 76 shares during the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.

WD-40 Trading Up 0.1%

Shares of NASDAQ WDFC opened at $198.14 on Friday. The business has a 50 day simple moving average of $199.75 and a 200 day simple moving average of $219.20. WD-40 Company has a 52 week low of $187.40 and a 52 week high of $289.10. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 29.66 and a beta of 0.18. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.01 and a current ratio of 2.79.

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

WD-40 Dividend Announcement

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

Insider Activity at WD-40

In related news, Director Daniel T. Carter purchased 1,000 shares of WD-40 stock in a transaction on Monday, October 27th. The stock was bought at an average price 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 of the company’s stock, valued at approximately $1,436,460.85. This represents a 16.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Etchart acquired 500 shares of the stock in a transaction dated Thursday, October 30th. The shares were bought at an average cost of $194.02 per share, for a total transaction of $97,010.00. Following the acquisition, the director owned 8,370 shares in the company, valued at $1,623,947.40. The trade was a 6.35% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 2,640 shares of company stock valued at $522,765. Insiders own 0.78% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.