The Manufacturers Life Insurance Company Has $1.67 Million Stake in WD-40 (NASDAQ:WDFC)

The Manufacturers Life Insurance Company raised its stake in shares of WD-40 (NASDAQ:WDFC) by 3.1% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 7,619 shares of the specialty chemicals company’s stock after purchasing an additional 229 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of WD-40 worth $1,673,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of WD-40 by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,623,994 shares of the specialty chemicals company’s stock worth $411,374,000 after buying an additional 6,532 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in WD-40 by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 307,097 shares of the specialty chemicals company’s stock valued at $67,452,000 after acquiring an additional 5,893 shares during the period. Bank of New York Mellon Corp raised its holdings in WD-40 by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 142,222 shares of the specialty chemicals company’s stock valued at $31,238,000 after acquiring an additional 3,458 shares during the period. Jupiter Asset Management Ltd. raised its holdings in WD-40 by 13.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 92,005 shares of the specialty chemicals company’s stock valued at $20,208,000 after acquiring an additional 11,112 shares during the period. Finally, Millennium Management LLC raised its holdings in WD-40 by 80.5% during the 2nd quarter. Millennium Management LLC now owns 69,650 shares of the specialty chemicals company’s stock valued at $15,298,000 after acquiring an additional 31,055 shares during the period. Hedge funds and other institutional investors own 91.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reduced their target price on 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 Stock Performance

NASDAQ WDFC opened at $257.26 on Friday. The company has a 50-day simple moving average of $255.49 and a two-hundred day simple moving average of $242.04. The company has a quick ratio of 1.56, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. WD-40 has a 12-month low of $194.09 and a 12-month high of $278.78. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 50.54 and a beta of -0.08.

WD-40 (NASDAQ:WDFC) last announced its earnings results on Wednesday, July 10th. The specialty chemicals company reported $1.46 earnings per share for the quarter, beating 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 business had revenue of $155.05 million during the quarter, compared to the consensus estimate of $145.80 million. During the same quarter last year, the firm earned $1.38 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts forecast that WD-40 will post 5.22 EPS for the current year.

WD-40 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 18th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, October 18th. WD-40’s dividend payout ratio (DPR) is currently 69.16%.

WD-40 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.