WD-40 Company $WDFC Shares Sold by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. has reduced its position in WD-40 Company by 20.3% in the first quarter, now holding approximately 268,082 shares valued at $65.41 million.
• WD-40's quarterly earnings beat analyst expectations, reporting $1.54 earnings per share and revenues of $156.92 million, though slightly below anticipated figures.
• The company announced a quarterly dividend of $0.94 per share, resulting in an annualized dividend yield of 1.7% with a payout ratio of 59.21%.

Ameriprise Financial Inc. lowered its holdings in WD-40 Company (NASDAQ:WDFC - Free Report) by 20.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 268,082 shares of the specialty chemicals company's stock after selling 68,403 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.98% of WD-40 worth $65,412,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Hsbc Holdings PLC raised its holdings in shares of WD-40 by 242.2% in the 1st quarter. Hsbc Holdings PLC now owns 6,673 shares of the specialty chemicals company's stock valued at $1,616,000 after purchasing an additional 4,723 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of WD-40 in the 1st quarter valued at about $23,556,000. Algert Global LLC raised its holdings in shares of WD-40 by 15.0% in the 1st quarter. Algert Global LLC now owns 11,119 shares of the specialty chemicals company's stock valued at $2,713,000 after purchasing an additional 1,450 shares in the last quarter. Corient IA LLC bought a new stake in shares of WD-40 in the 1st quarter valued at about $244,000. Finally, Raymond James Financial Inc. raised its holdings in shares of WD-40 by 9.4% in the 1st quarter. Raymond James Financial Inc. now owns 80,696 shares of the specialty chemicals company's stock valued at $19,690,000 after purchasing an additional 6,924 shares in the last quarter. Institutional investors own 91.52% of the company's stock.

Wall Street Analysts Forecast Growth

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

WD-40 Stock Down 0.8%

Shares of WD-40 stock traded down $1.66 on Monday, reaching $216.04. The stock had a trading volume of 90,408 shares, compared to its average volume of 90,111. The stock has a market capitalization of $2.92 billion, a P/E ratio of 34.02 and a beta of 0.13. 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 company has a 50 day moving average price of $222.33 and a 200 day moving average price of $231.39. WD-40 Company has a 1 year low of $208.00 and a 1 year 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 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.14. The company had revenue of $156.92 million during the quarter, compared to analysts' expectations of $160.60 million. WD-40 had a net margin of 14.13% and a return on equity of 31.23%. WD-40's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the business earned $1.46 EPS. As a group, equities research analysts forecast that WD-40 Company will post 5.42 EPS for the current year.

WD-40 Announces Dividend

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

WD-40 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.