WD-40 (NASDAQ:WDFC) Position Lifted by Sei Investments Co.

Sei Investments Co. raised its stake in WD-40 (NASDAQ:WDFC) by 9.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,966 shares of the specialty chemicals company’s stock after purchasing an additional 244 shares during the period. Sei Investments Co.’s holdings in WD-40 were worth $652,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

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

WD-40 Stock Up 1.3 %

Shares of WD-40 stock opened at $256.26 on Wednesday. WD-40 has a twelve month low of $194.09 and a twelve month high of $278.78. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 50.35 and a beta of -0.08. The company has a current ratio of 2.27, a quick ratio of 1.56 and a debt-to-equity ratio of 0.40. The business’s 50 day simple moving average is $255.60 and its 200-day simple moving average is $241.83.

WD-40 (NASDAQ:WDFC) last posted its earnings results on Wednesday, July 10th. The specialty chemicals company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.07. WD-40 had a return on equity of 32.43% and a net margin of 12.07%. The company had revenue of $155.05 million for the quarter, compared to analysts’ expectations of $145.80 million. During the same period last year, the business posted $1.38 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts forecast that WD-40 will post 5.22 earnings per share for the current year.

WD-40 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 18th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Friday, October 18th. WD-40’s payout ratio is 69.16%.

About WD-40

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.