Inspire Investing LLC Purchases 193 Shares of WD-40 (NASDAQ:WDFC)

Inspire Investing LLC raised its position in WD-40 (NASDAQ:WDFC) by 13.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,602 shares of the specialty chemicals company’s stock after acquiring an additional 193 shares during the period. Inspire Investing LLC’s holdings in WD-40 were worth $352,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. YHB Investment Advisors Inc. acquired a new position in shares of WD-40 in the first quarter valued at $33,000. DekaBank Deutsche Girozentrale bought a new stake in WD-40 in the 1st quarter valued at $34,000. Advisors Asset Management Inc. acquired a new position in shares of WD-40 in the 1st quarter valued at $43,000. Covestor Ltd raised its stake in shares of WD-40 by 57.7% in the 1st quarter. Covestor Ltd now owns 216 shares of the specialty chemicals company’s stock valued at $55,000 after buying an additional 79 shares in the last quarter. Finally, Blue Trust Inc. bought a new position in shares of WD-40 during the 2nd quarter worth about $67,000. Institutional investors own 91.52% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson lowered their target price on shares of WD-40 from $313.00 to $303.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th.

WD-40 Price Performance

WD-40 stock opened at $256.68 on Tuesday. The business has a 50 day simple moving average of $255.95 and a 200 day simple moving average of $241.52. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.56. The company has a market capitalization of $3.48 billion, a PE ratio of 50.43 and a beta of -0.08. WD-40 has a one year low of $194.09 and a one year high of $278.78.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings data on Wednesday, July 10th. The specialty chemicals company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. WD-40 had a net margin of 12.07% and a return on equity of 32.43%. The firm had revenue of $155.05 million for the quarter, compared to analyst estimates of $145.80 million. During the same quarter in the prior year, the firm earned $1.38 EPS. The company’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts forecast that WD-40 will post 5.22 EPS for the current fiscal year.

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.