Texas Permanent School Fund Corp Raises Holdings in WD-40 (NASDAQ:WDFC)

Texas Permanent School Fund Corp boosted its stake in shares of WD-40 (NASDAQ:WDFC) by 22.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,499 shares of the specialty chemicals company’s stock after acquiring an additional 2,630 shares during the quarter. Texas Permanent School Fund Corp owned 0.11% of WD-40 worth $3,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. GSA Capital Partners LLP lifted its holdings in WD-40 by 40.6% in the 4th quarter. GSA Capital Partners LLP now owns 13,279 shares of the specialty chemicals company’s stock worth $3,175,000 after buying an additional 3,833 shares during the period. Acadian Asset Management LLC lifted its holdings in WD-40 by 1,131.2% in the 1st quarter. Acadian Asset Management LLC now owns 4,063 shares of the specialty chemicals company’s stock worth $1,023,000 after buying an additional 3,733 shares during the period. Vanguard Group Inc. lifted its holdings in 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 period. Jupiter Asset Management Ltd. purchased a new stake in WD-40 in the 1st quarter worth approximately $20,491,000. Finally, PineStone Asset Management Inc. lifted its holdings in WD-40 by 25.5% in the 4th quarter. PineStone Asset Management Inc. now owns 34,000 shares of the specialty chemicals company’s stock worth $8,128,000 after buying an additional 6,900 shares during the period. 91.52% of the stock is currently owned by hedge funds and other institutional investors.

WD-40 Stock Up 1.8 %

Shares of NASDAQ:WDFC opened at $257.43 on Monday. WD-40 has a 52-week low of $194.09 and a 52-week high of $278.78. The firm has a market capitalization of $3.49 billion, a P/E ratio of 50.58 and a beta of -0.08. The stock has a 50 day moving average price of $252.29 and a 200-day moving average price of $241.56. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.56 and a current ratio of 2.27.

WD-40 (NASDAQ:WDFC) last announced its earnings results on Wednesday, July 10th. The specialty chemicals company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.07. WD-40 had a return on equity of 32.43% and a net margin of 12.07%. The firm had revenue of $155.05 million during the quarter, compared to analyst estimates of $145.80 million. During the same quarter in the prior year, the company earned $1.38 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts anticipate that WD-40 will post 5.22 EPS for the current fiscal year.

WD-40 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 19th were given 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 was Friday, July 19th. WD-40’s dividend payout ratio (DPR) is presently 69.16%.

Wall Street Analysts Forecast Growth

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

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.