WD-40 (WDFC) Stake Lowered by Texas Permanent School Fund
Texas Permanent School Fund cut its holdings in WD-40 (NASDAQ:WDFC) by 7.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,439 shares of the specialty chemicals company’s stock after selling 794 shares during the quarter. Texas Permanent School Fund’s holdings in WD-40 were worth $1,114,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Bredin Investment LLC purchased a new stake in shares of WD-40 in the fourth quarter valued at approximately $554,000. Conestoga Capital Advisors LLC boosted its stake in shares of WD-40 by 18.7% in the fourth quarter. Conestoga Capital Advisors LLC now owns 371,360 shares of the specialty chemicals company’s stock worth $43,820,000 after acquiring an additional 58,585 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of WD-40 by 34.9% in the fourth quarter. Acadian Asset Management LLC now owns 20,877 shares of the specialty chemicals company’s stock worth $2,463,000 after acquiring an additional 5,399 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of WD-40 by 4.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 89,568 shares of the specialty chemicals company’s stock worth $10,570,000 after acquiring an additional 3,425 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of WD-40 in the third quarter worth approximately $568,000. Institutional investors and hedge funds own 81.96% of the company’s stock.
A number of analysts have recently issued reports on the company. B. Riley reaffirmed a “neutral” rating on shares of WD-40 in a research note on Wednesday, November 1st. Zacks Investment Research lowered WD-40 from a “buy” rating to a “hold” rating in a research note on Sunday, January 21st. BidaskClub lowered WD-40 from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, FBR & Co reaffirmed a “neutral” rating and issued a $122.00 price target (up from $115.00) on shares of WD-40 in a research note on Friday, October 20th. Five investment analysts have rated the stock with a hold rating, WD-40 presently has an average rating of “Hold” and a consensus price target of $123.75.
WD-40 (NASDAQ:WDFC) last released its quarterly earnings data on Tuesday, January 9th. The specialty chemicals company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.07. The company had revenue of $97.60 million for the quarter, compared to analyst estimates of $93.00 million. WD-40 had a return on equity of 39.23% and a net margin of 13.84%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 earnings per share. research analysts predict that WD-40 will post 3.94 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, January 19th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, January 18th. This represents a $2.16 dividend on an annualized basis and a yield of 1.80%. This is a positive change from WD-40’s previous quarterly dividend of $0.49. WD-40’s payout ratio is 56.84%.
In other WD-40 news, insider Geoffrey Holdsworth sold 1,690 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $126.85, for a total transaction of $214,376.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.62% of the company’s stock.
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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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