WD-40 (WDFC) Holdings Raised by American International Group Inc.
American International Group Inc. raised its holdings in shares of WD-40 (NASDAQ:WDFC) by 5.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,968 shares of the specialty chemicals company’s stock after acquiring an additional 588 shares during the quarter. American International Group Inc. owned approximately 0.08% of WD-40 worth $1,227,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of WDFC. Neuberger Berman Group LLC raised its holdings in WD-40 by 27.6% during the second quarter. Neuberger Berman Group LLC now owns 591,124 shares of the specialty chemicals company’s stock valued at $65,231,000 after acquiring an additional 127,744 shares during the period. Conestoga Capital Advisors LLC raised its holdings in WD-40 by 62.7% during the third quarter. Conestoga Capital Advisors LLC now owns 312,775 shares of the specialty chemicals company’s stock valued at $35,000,000 after acquiring an additional 120,575 shares during the period. Lagoda Investment Management L.P. bought a new stake in WD-40 during the second quarter valued at about $7,352,000. Wells Fargo & Company MN raised its holdings in WD-40 by 48.2% during the second quarter. Wells Fargo & Company MN now owns 194,866 shares of the specialty chemicals company’s stock valued at $21,504,000 after acquiring an additional 63,370 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in WD-40 by 12.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 526,508 shares of the specialty chemicals company’s stock valued at $58,101,000 after acquiring an additional 58,623 shares during the period. 84.20% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Jay Rembolt sold 676 shares of WD-40 stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $112.60, for a total value of $76,117.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.90% of the company’s stock.
WD-40 (NASDAQ:WDFC) last issued its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $96.60 million for the quarter, compared to analysts’ expectations of $106.01 million. During the same period in the previous year, the firm posted $0.99 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. research analysts anticipate that WD-40 will post 3.85 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 19th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.82%. This is a boost from WD-40’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, January 18th. WD-40’s payout ratio is 52.55%.
WDFC has been the topic of a number of recent analyst reports. Zacks Investment Research cut WD-40 from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. BidaskClub cut WD-40 from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. FBR & Co reissued a “neutral” rating and set a $122.00 price target (up 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 research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $117.25.
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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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