Covestor Ltd Grows Stock Position in WD-40 (NASDAQ:WDFC)

Covestor Ltd increased its position in shares of WD-40 (NASDAQ:WDFC) by 41.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 226 shares of the specialty chemicals company’s stock after purchasing an additional 66 shares during the quarter. Covestor Ltd’s holdings in WD-40 were worth $58,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Profit Investment Management LLC increased its holdings in WD-40 by 0.3% in the 2nd quarter. Profit Investment Management LLC now owns 16,067 shares of the specialty chemicals company’s stock valued at $3,529,000 after purchasing an additional 43 shares during the last quarter. Arizona State Retirement System increased its holdings in WD-40 by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 3,794 shares of the specialty chemicals company’s stock valued at $833,000 after purchasing an additional 68 shares during the last quarter. GAMMA Investing LLC increased its holdings 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 purchasing an additional 84 shares during the last quarter. Blue Trust Inc. increased its holdings in WD-40 by 28.9% in the 3rd quarter. Blue Trust Inc. now owns 393 shares of the specialty chemicals company’s stock valued at $101,000 after purchasing an additional 88 shares during the last quarter. Finally, Swiss National Bank increased its holdings in WD-40 by 0.4% in the 1st quarter. Swiss National Bank now owns 26,800 shares of the specialty chemicals company’s stock valued at $6,789,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 91.52% of the company’s stock.

Insider Buying and Selling

In related news, Director William B. Noble sold 800 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $256.98, for a total transaction of $205,584.00. Following the completion of the transaction, the director now owns 8,999 shares in the company, valued at approximately $2,312,563.02. The trade was a 8.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

WDFC has been the subject of several research reports. Jefferies Financial Group lifted their target price on shares of WD-40 from $250.00 to $280.00 and gave the company a “hold” rating in a report on Friday, October 18th. DA Davidson boosted their price target on shares of WD-40 from $303.00 to $322.00 and gave the stock a “buy” rating in a research note on Friday, October 18th.

WD-40 Stock Performance

NASDAQ:WDFC opened at $280.38 on Friday. The company 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 market cap of $3.80 billion, a price-to-earnings ratio of 54.87 and a beta of -0.08. 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 52 week low of $211.03 and a 52 week high of $292.36.

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

WD-40 Announces Dividend

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

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.