Amalgamated Bank Trims Stake in WD-40 (NASDAQ:WDFC)

Amalgamated Bank lessened its holdings in shares of WD-40 (NASDAQ:WDFC) by 4.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,979 shares of the specialty chemicals company’s stock after selling 167 shares during the quarter. Amalgamated Bank’s holdings in WD-40 were worth $1,026,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of WDFC. V Square Quantitative Management LLC bought a new position in shares of WD-40 in the 3rd quarter worth $29,000. DekaBank Deutsche Girozentrale bought a new position in WD-40 in the first quarter valued at $34,000. Advisors Asset Management Inc. purchased a new stake in WD-40 during the first quarter valued at about $43,000. Covestor Ltd lifted its stake in WD-40 by 57.7% during the first quarter. Covestor Ltd now owns 216 shares of the specialty chemicals company’s stock worth $55,000 after purchasing an additional 79 shares during the last quarter. Finally, Blue Trust Inc. purchased a new position in shares of WD-40 in the 2nd quarter worth about $67,000. 91.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on WDFC shares. DA Davidson raised their price objective on WD-40 from $303.00 to $322.00 and gave the company a “buy” rating in a report on Friday, October 18th. Jefferies Financial Group increased their price target on shares of WD-40 from $250.00 to $280.00 and gave the company a “hold” rating in a research report on Friday, October 18th.

Insider Buying and Selling

In related news, Director William B. Noble sold 800 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $256.98, for a total transaction of $205,584.00. Following the transaction, the director now owns 8,999 shares in the company, valued at $2,312,563.02. The trade was a 8.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.65% of the stock is owned by insiders.

WD-40 Stock Performance

WD-40 stock opened at $280.38 on Friday. The firm has a fifty day simple moving average of $262.31 and a two-hundred day simple moving average of $246.61. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.37. WD-40 has a twelve month low of $211.03 and a twelve month high of $292.36. The company has a market capitalization of $3.80 billion, a PE ratio of 54.87 and a beta of -0.08.

WD-40 (NASDAQ:WDFC) last released its earnings results on Thursday, October 17th. The specialty chemicals company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.11). WD-40 had a net margin of 11.79% and a return on equity of 31.53%. The company had revenue of $156.00 million during the quarter, compared to the consensus estimate of $149.20 million. During the same period last year, the firm posted $1.21 EPS. The company’s revenue was up 11.0% on a year-over-year basis. Research analysts expect that WD-40 will post 5.36 EPS for the current year.

WD-40 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 18th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, October 18th. WD-40’s dividend payout ratio (DPR) is presently 68.88%.

About WD-40

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.