Wellington Management Group LLP Invests $23.56 Million in WD-40 Company $WDFC

Key Points

• Wellington Management Group LLP acquired a new position in WD-40 Company by buying 96,542 shares valued at approximately $23.56 million, representing 0.71% of the company.
• WD-40 reported earnings of $1.54 per share, exceeding expectations, with a revenue of $156.92 million for the quarter, indicating a 1.2% year-over-year increase.
• The company has announced a quarterly dividend of $0.94 per share, reflecting an annualized dividend of $3.76 and a dividend yield of 1.7%.

Wellington Management Group LLP acquired a new stake in WD-40 Company (NASDAQ:WDFC - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 96,542 shares of the specialty chemicals company's stock, valued at approximately $23,556,000. Wellington Management Group LLP owned about 0.71% of WD-40 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Stratos Wealth Partners LTD. boosted its holdings in WD-40 by 4.8% during the first quarter. Stratos Wealth Partners LTD. now owns 1,048 shares of the specialty chemicals company's stock worth $256,000 after purchasing an additional 48 shares during the last quarter. KBC Group NV boosted its holdings in WD-40 by 8.9% during the first quarter. KBC Group NV now owns 597 shares of the specialty chemicals company's stock worth $146,000 after purchasing an additional 49 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in WD-40 by 5.9% during the first quarter. D.A. Davidson & CO. now owns 895 shares of the specialty chemicals company's stock worth $218,000 after purchasing an additional 50 shares during the last quarter. Xponance Inc. boosted its holdings in WD-40 by 5.4% during the first quarter. Xponance Inc. now owns 1,037 shares of the specialty chemicals company's stock worth $253,000 after purchasing an additional 53 shares during the last quarter. Finally, Private Advisor Group LLC boosted its holdings in WD-40 by 3.9% during the first quarter. Private Advisor Group LLC now owns 1,482 shares of the specialty chemicals company's stock worth $362,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds own 91.52% of the company's stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson decreased their price target on WD-40 from $322.00 to $300.00 and set a "buy" rating for the company in a research note on Friday, July 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, WD-40 presently has an average rating of "Moderate Buy" and a consensus price target of $290.00.

WD-40 Stock Performance

NASDAQ:WDFC traded down $3.76 during mid-day trading on Thursday, hitting $217.70. 83,793 shares of the stock were exchanged, compared to its average volume of 102,928. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 34.28 and a beta of 0.15. The firm's 50-day simple moving average is $223.12 and its 200 day simple moving average is $231.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.02 and a current ratio of 2.84. WD-40 Company has a fifty-two week low of $208.00 and a fifty-two week high of $292.36.

WD-40 (NASDAQ:WDFC - Get Free Report) last released its quarterly earnings results on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.14. The business had revenue of $156.92 million during the quarter, compared to analysts' expectations of $160.60 million. WD-40 had a return on equity of 31.23% and a net margin of 14.13%.The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $1.46 EPS. As a group, equities analysts anticipate that WD-40 Company will post 5.42 EPS for the current fiscal year.

WD-40 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 18th were issued a $0.94 dividend. The ex-dividend date of this dividend was Friday, July 18th. This represents a $3.76 annualized dividend and a yield of 1.7%. WD-40's payout ratio is currently 59.21%.

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.