Intech Investment Management LLC Raises Stock Position in WD-40 (NASDAQ:WDFC)

Intech Investment Management LLC lifted its stake in WD-40 (NASDAQ:WDFC) by 60.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,969 shares of the specialty chemicals company’s stock after buying an additional 2,620 shares during the period. Intech Investment Management LLC owned approximately 0.05% of WD-40 worth $1,797,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WDFC. V Square Quantitative Management LLC purchased a new position in shares of WD-40 during the third quarter worth about $29,000. DekaBank Deutsche Girozentrale purchased a new position in WD-40 during the 1st quarter worth approximately $34,000. Advisors Asset Management Inc. acquired a new position in WD-40 during the first quarter worth approximately $43,000. Covestor Ltd lifted its stake in WD-40 by 41.3% in the third quarter. Covestor Ltd now owns 226 shares of the specialty chemicals company’s stock valued at $58,000 after buying an additional 66 shares during the last quarter. Finally, Blue Trust Inc. acquired a new stake in shares of WD-40 in the second quarter valued at approximately $67,000. 91.52% of the stock is owned by hedge funds and other institutional investors.

WD-40 Trading Up 0.9 %

Shares of WDFC stock opened at $286.49 on Tuesday. WD-40 has a twelve month low of $211.03 and a twelve month high of $292.36. The company has a current ratio of 2.47, a quick ratio of 1.70 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $265.48 and its two-hundred day moving average is $249.16. The company has a market capitalization of $3.88 billion, a P/E ratio of 56.06 and a beta of -0.08.

WD-40 (NASDAQ:WDFC) last announced its quarterly earnings data on Thursday, October 17th. The specialty chemicals company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.11). The firm had revenue of $156.00 million during the quarter, compared to analyst estimates of $149.20 million. WD-40 had a net margin of 11.79% and a return on equity of 31.53%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.21 earnings per share. Equities analysts forecast 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. Investors of record on Friday, October 18th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, October 18th. WD-40’s dividend payout ratio (DPR) is 68.88%.

Insider Buying and Selling

In related news, Director William B. Noble sold 1,000 shares of WD-40 stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $289.70, for a total transaction of $289,700.00. Following the completion of the transaction, the director now directly owns 7,999 shares of the company’s stock, valued at approximately $2,317,310.30. The trade was a 11.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.75% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on WDFC shares. DA Davidson reiterated a “buy” rating and issued a $322.00 price target on shares of WD-40 in a research report on Monday, November 18th. Jefferies Financial Group upped 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.

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.