119,691 Shares in WD-40 Company $WDFC Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp bought a new position in WD-40 Company (NASDAQ:WDFC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 119,691 shares of the specialty chemicals company's stock, valued at approximately $29,162,000. Bank of New York Mellon Corp owned about 0.89% of WD-40 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in WDFC. Vanguard Group Inc. raised its stake in shares of WD-40 by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 1,650,622 shares of the specialty chemicals company's stock valued at $325,007,000 after acquiring an additional 47,528 shares during the last quarter. Alliancebernstein L.P. raised its position in WD-40 by 6.4% during the 3rd quarter. Alliancebernstein L.P. now owns 533,738 shares of the specialty chemicals company's stock valued at $105,467,000 after purchasing an additional 32,333 shares during the last quarter. First Trust Advisors LP raised its position in WD-40 by 41.9% during the 1st quarter. First Trust Advisors LP now owns 411,312 shares of the specialty chemicals company's stock valued at $83,883,000 after purchasing an additional 121,358 shares during the last quarter. Geode Capital Management LLC raised its position in WD-40 by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 405,117 shares of the specialty chemicals company's stock valued at $79,778,000 after purchasing an additional 2,072 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in WD-40 by 24.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 333,505 shares of the specialty chemicals company's stock worth $76,069,000 after buying an additional 65,423 shares during the period. 91.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Patricia Q. Olsem sold 300 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $233.73, for a total value of $70,119.00. Following the transaction, the insider owned 4,774 shares of the company's stock, valued at $1,115,827.02. This trade represents a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.78% of the company's stock.

WD-40 Trading Down 0.8%

NASDAQ WDFC opened at $217.17 on Friday. WD-40 Company has a 12 month low of $175.38 and a 12 month high of $298.90. The company has a current ratio of 2.65, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The stock's fifty day moving average price is $234.94 and its 200-day moving average price is $224.37. The stock has a market cap of $2.91 billion, a P/E ratio of 33.00 and a beta of 0.27.

WD-40 (NASDAQ:WDFC - Get Free Report) last announced its quarterly earnings results on Thursday, July 9th. The specialty chemicals company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.75. WD-40 had a net margin of 13.23% and a return on equity of 33.53%. The company had revenue of $195.12 million during the quarter, compared to the consensus estimate of $172.79 million. During the same quarter last year, the firm earned $1.54 earnings per share. The firm's quarterly revenue was up 24.3% compared to the same quarter last year. WD-40 has set its FY 2026 guidance at 6.050-6.350 EPS. As a group, equities analysts forecast that WD-40 Company will post 6.24 EPS for the current fiscal year.

WD-40 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, July 17th. WD-40's dividend payout ratio (DPR) is currently 62.01%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a "hold (c)" rating on shares of WD-40 in a research note on Friday, August 21st. Zacks Research raised WD-40 from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Northcoast Research upgraded shares of WD-40 to a "strong-buy" rating in a report on Wednesday, June 24th. Jefferies Financial Group reissued a "hold" rating on shares of WD-40 in a research report on Friday, July 10th. Finally, DA Davidson upped their price objective on shares of WD-40 from $270.00 to $305.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $305.00.

About WD-40

WD-40 Company, headquartered in San Diego, California, is best known for its flagship WD-40® Multi-Use Product, a water-displacing spray used for lubrication, rust prevention and cleaning. Since its introduction in 1953 by the Rocket Chemical Company, the WD-40 brand has become a household and industrial staple. Over time, the company has broadened its portfolio to include complementary maintenance and cleaning brands such as 3-IN-ONE® oils, Lava® hand cleaners, Solvol® solvents, Spot Shot® stain removers and X-14® cleaning products.

WD-40 Company distributes its products in more than 176 countries through retail, industrial and automotive channels.

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