WD-40 Company $WDFC Stock Holdings Boosted by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in WD-40 Company by 15.0% in the first quarter, owning 11,119 shares valued at approximately $2.7 million.
• The company's recent quarterly earnings surpassed estimates, reporting $1.54 earnings per share against an expectation of $1.40, although revenue was slightly below projections.
• WD-40 Company recently declared a quarterly dividend of $0.94 per share, translating to an annual yield of 1.7%.

Algert Global LLC grew its stake in WD-40 Company (NASDAQ:WDFC - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,119 shares of the specialty chemicals company's stock after purchasing an additional 1,450 shares during the period. Algert Global LLC owned about 0.08% of WD-40 worth $2,713,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WDFC. Stratos Wealth Partners LTD. boosted its holdings in WD-40 by 4.8% during the 1st quarter. Stratos Wealth Partners LTD. now owns 1,048 shares of the specialty chemicals company's stock valued at $256,000 after acquiring an additional 48 shares during the period. KBC Group NV boosted its stake in shares of 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 during the period. D.A. Davidson & CO. raised its position in shares of WD-40 by 5.9% during the 1st quarter. D.A. Davidson & CO. now owns 895 shares of the specialty chemicals company's stock worth $218,000 after acquiring an additional 50 shares in the last quarter. Xponance Inc. raised its position in shares of WD-40 by 5.4% during the 1st quarter. Xponance Inc. now owns 1,037 shares of the specialty chemicals company's stock worth $253,000 after acquiring an additional 53 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in shares of WD-40 by 3.9% during the 1st quarter. Private Advisor Group LLC now owns 1,482 shares of the specialty chemicals company's stock worth $362,000 after acquiring an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 91.52% of the company's stock.

WD-40 Stock Down 1.1%

Shares of NASDAQ WDFC traded down $2.46 on Tuesday, hitting $216.66. The company had a trading volume of 72,534 shares, compared to its average volume of 114,019. WD-40 Company has a 12-month low of $208.00 and a 12-month high of $292.36. The business has a 50 day moving average of $224.08 and a two-hundred day moving average of $231.76. The company has a quick ratio of 2.02, a current ratio of 2.84 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $2.93 billion, a P/E ratio of 34.12 and a beta of 0.15.

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

WD-40 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 18th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, July 18th. WD-40's dividend payout ratio is presently 59.21%.

Wall Street Analyst Weigh In

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

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.