AlphaQuest LLC Raises Stock Holdings in WD-40 Company $WDFC

Key Points

• AlphaQuest LLC increased its holdings in WD-40 Company by 52.3%, acquiring an additional 2,130 shares, bringing their total to 6,204 shares valued at approximately $1.51 million.
• WD-40 reported an EPS of $1.54 for the latest quarter, exceeding estimates, while revenue was $156.92 million, slightly below expectations.
• The company declared a quarterly dividend of $0.94 per share, representing an annualized dividend yield of 1.7%.

AlphaQuest LLC raised its stake in WD-40 Company (NASDAQ:WDFC - Free Report) by 52.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,204 shares of the specialty chemicals company's stock after buying an additional 2,130 shares during the quarter. AlphaQuest LLC's holdings in WD-40 were worth $1,514,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Ameriflex Group Inc. acquired a new position in shares of WD-40 in the fourth quarter valued at $25,000. TD Waterhouse Canada Inc. bought a new stake in WD-40 during the fourth quarter worth about $27,000. Golden State Wealth Management LLC lifted its holdings in shares of WD-40 by 210.6% in the first quarter. Golden State Wealth Management LLC now owns 146 shares of the specialty chemicals company's stock worth $36,000 after acquiring an additional 99 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of WD-40 by 96.1% in the first quarter. Versant Capital Management Inc now owns 149 shares of the specialty chemicals company's stock valued at $36,000 after buying an additional 73 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of WD-40 by 420.0% in the first quarter. Farther Finance Advisors LLC now owns 156 shares of the specialty chemicals company's stock valued at $38,000 after buying an additional 126 shares during the period. Institutional investors own 91.52% of the company's stock.

Wall Street Analyst Weigh In

Separately, DA Davidson reduced their price objective on shares of WD-40 from $322.00 to $300.00 and set a "buy" rating for the company in a research report on Friday, July 11th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $290.00.

WD-40 Price Performance

Shares of WDFC traded down $1.92 during trading hours on Thursday, reaching $219.54. 16,355 shares of the company's stock traded hands, compared to its average volume of 144,575. The stock has a market cap of $2.97 billion, a PE ratio of 34.52 and a beta of 0.15. 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's 50 day simple moving average is $223.64 and its 200-day simple moving average is $231.69. WD-40 Company has a 12 month low of $208.00 and a 12 month high of $292.36.

WD-40 (NASDAQ:WDFC - Get Free Report) last released its earnings results on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share for the quarter, topping 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 company had revenue of $156.92 million during the quarter, compared to the consensus estimate of $160.60 million. During the same quarter in the previous year, the company posted $1.46 EPS. WD-40's quarterly revenue was up 1.2% compared to the same quarter last year. Equities analysts expect that WD-40 Company will post 5.42 EPS for the current year.

WD-40 Dividend Announcement

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