Bleakley Financial Group LLC Buys 115 Shares of WD-40 (NASDAQ:WDFC)

Bleakley Financial Group LLC lifted its stake in shares of WD-40 (NASDAQ:WDFC) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,079 shares of the specialty chemicals company’s stock after purchasing an additional 115 shares during the quarter. Bleakley Financial Group LLC’s holdings in WD-40 were worth $1,052,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in WDFC. DekaBank Deutsche Girozentrale bought a new position in WD-40 in the 1st quarter valued at about $34,000. Advisors Asset Management Inc. bought a new position in WD-40 in the 1st quarter valued at about $43,000. Covestor Ltd lifted its position in 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 acquiring an additional 79 shares in the last quarter. Blue Trust Inc. bought a new position in WD-40 in the 2nd quarter valued at about $67,000. Finally, GAMMA Investing LLC lifted its position in WD-40 by 34.9% in the 3rd quarter. GAMMA Investing LLC now owns 325 shares of the specialty chemicals company’s stock valued at $84,000 after acquiring an additional 84 shares in the last quarter. Institutional investors own 91.52% of the company’s stock.

WD-40 Trading Down 5.1 %

Shares of WDFC stock opened at $251.25 on Monday. The company has a 50 day moving average of $256.53 and a 200-day moving average of $242.35. 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 $3.40 billion, a P/E ratio of 49.17 and a beta of -0.08.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings results on Thursday, October 17th. The specialty chemicals company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.11). WD-40 had a return on equity of 32.23% and a net margin of 11.79%. The company had revenue of $156.00 million for the quarter, compared to analysts’ expectations of $149.20 million. During the same quarter in the previous year, the business earned $1.21 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Sell-side analysts anticipate that WD-40 will post 5.3 earnings per share for the current year.

WD-40 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 18th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Friday, October 18th. WD-40’s payout ratio is 68.88%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WDFC. DA Davidson raised their price target on shares of WD-40 from $303.00 to $322.00 and gave the company a “buy” rating in a research report on Friday. Jefferies Financial Group increased their price objective on shares of WD-40 from $250.00 to $280.00 and gave the company a “hold” rating in a research note on Friday.

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.