Bank of New York Mellon Corp Purchases 1,932 Shares of WD-40 (NASDAQ:WDFC)

Bank of New York Mellon Corp raised its position in WD-40 (NASDAQ:WDFC) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,894 shares of the specialty chemicals company’s stock after purchasing an additional 1,932 shares during the quarter. Bank of New York Mellon Corp owned 0.96% of WD-40 worth $31,523,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd grew its stake in WD-40 by 41.3% during the third quarter. Covestor Ltd now owns 226 shares of the specialty chemicals company’s stock worth $58,000 after purchasing an additional 66 shares during the period. Crossmark Global Holdings Inc. grew its stake in WD-40 by 24.3% in the third quarter. Crossmark Global Holdings Inc. now owns 1,193 shares of the specialty chemicals company’s stock valued at $307,000 after acquiring an additional 233 shares during the period. Versor Investments LP acquired a new stake in WD-40 in the third quarter valued at approximately $232,000. Geneva Capital Management LLC grew its stake in WD-40 by 0.5% in the third quarter. Geneva Capital Management LLC now owns 211,624 shares of the specialty chemicals company’s stock valued at $54,574,000 after acquiring an additional 988 shares during the period. Finally, KBC Group NV grew its stake in WD-40 by 28.6% in the third quarter. KBC Group NV now owns 445 shares of the specialty chemicals company’s stock valued at $115,000 after acquiring an additional 99 shares during the period. 91.52% of the stock is currently owned by institutional investors.

WD-40 Stock Performance

Shares of WDFC opened at $245.51 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.44 and a quick ratio of 1.75. WD-40 has a 1 year low of $211.03 and a 1 year high of $292.36. The firm has a market cap of $3.33 billion, a PE ratio of 47.03 and a beta of -0.10. The stock’s fifty day moving average price is $235.34 and its two-hundred day moving average price is $253.99.

WD-40 (NASDAQ:WDFC) last posted its earnings results on Friday, January 10th. The specialty chemicals company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.29 by $0.10. WD-40 had a return on equity of 31.68% and a net margin of 11.78%. The business had revenue of $153.30 million during the quarter, compared to analysts’ expectations of $147.40 million. During the same period in the previous year, the business earned $1.28 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. On average, equities research analysts forecast that WD-40 will post 5.42 EPS for the current year.

WD-40 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Friday, January 17th. This is a positive change from WD-40’s previous quarterly dividend of $0.88. WD-40’s payout ratio is 72.03%.

Analyst Ratings Changes

Separately, DA Davidson reaffirmed a “buy” rating and set a $322.00 target price on shares of WD-40 in a research report on Monday, January 27th.

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.