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 disclosure with the SEC. The institutional investor acquired 96,542 shares of the specialty chemicals company's stock, valued at approximately $23,556,000. Wellington Management Group LLP owned approximately 0.71% of WD-40 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in WD-40 by 36.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,830 shares of the specialty chemicals company's stock valued at $447,000 after buying an additional 491 shares in the last quarter. KBC Group NV grew its holdings in WD-40 by 8.9% in the 1st quarter. KBC Group NV now owns 597 shares of the specialty chemicals company's stock valued at $146,000 after buying an additional 49 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in WD-40 by 15.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,789 shares of the specialty chemicals company's stock valued at $1,168,000 after buying an additional 645 shares in the last quarter. GAMMA Investing LLC grew its holdings in WD-40 by 17.0% in the 1st quarter. GAMMA Investing LLC now owns 468 shares of the specialty chemicals company's stock valued at $114,000 after buying an additional 68 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in WD-40 by 37.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,299 shares of the specialty chemicals company's stock valued at $563,000 after buying an additional 627 shares in the last quarter. 91.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, DA Davidson dropped their price objective on WD-40 from $322.00 to $300.00 and set a "buy" rating for the company in a report on Friday, July 11th. One research 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 has a consensus rating of "Moderate Buy" and an average price target of $290.00.

WD-40 Price Performance

NASDAQ WDFC traded down $1.66 during midday trading on Friday, hitting $216.04. The company had a trading volume of 90,408 shares, compared to its average volume of 90,111. The company has a market capitalization of $2.92 billion, a PE ratio of 34.02 and a beta of 0.13. The company has a current ratio of 2.84, a quick ratio of 2.02 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $222.75 and a 200-day moving average price of $231.50. WD-40 Company has a twelve month low of $208.00 and a twelve month high of $292.36.

WD-40 (NASDAQ:WDFC - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.14. The firm 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 company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. As a group, analysts anticipate that WD-40 Company will post 5.42 earnings per share for the current fiscal year.

WD-40 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 18th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, July 18th. WD-40's dividend payout ratio (DPR) 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.