Bridges Investment Management Inc. Makes New $260,000 Investment in WD-40 (NASDAQ:WDFC)

Bridges Investment Management Inc. purchased a new stake in shares of WD-40 (NASDAQ:WDFC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,182 shares of the specialty chemicals company’s stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WDFC. APG Asset Management US Inc. acquired a new stake in WD-40 in the 4th quarter valued at approximately $38,142,000. Norges Bank purchased a new stake in shares of WD-40 in the 4th quarter valued at $19,697,000. Jupiter Asset Management Ltd. purchased a new stake in shares of WD-40 in the 1st quarter valued at $20,491,000. Lord Abbett & CO. LLC acquired a new position in WD-40 during the 1st quarter worth about $4,180,000. Finally, Lazard Asset Management LLC boosted its holdings in WD-40 by 83.6% during the 1st quarter. Lazard Asset Management LLC now owns 26,226 shares of the specialty chemicals company’s stock valued at $6,642,000 after acquiring an additional 11,939 shares during the period. 91.52% of the stock is owned by hedge funds and other institutional investors.

WD-40 Stock Down 1.8 %

WD-40 stock opened at $255.91 on Monday. The firm has a market capitalization of $3.47 billion, a P/E ratio of 50.28 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. WD-40 has a twelve month low of $194.09 and a twelve month high of $278.78. The stock’s fifty day simple moving average is $255.72 and its 200-day simple moving average is $241.46.

WD-40 (NASDAQ:WDFC) last posted its quarterly 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 analyst estimates of $145.80 million. During the same quarter last year, the company earned $1.38 EPS. WD-40’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts expect that WD-40 will post 5.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reduced their price target on shares of WD-40 from $313.00 to $303.00 and set a “buy” rating on the stock 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.