Amundi Decreases Stock Position in WD-40 Company $WDFC

Key Points

• Amundi reduced its holdings in WD-40 Company by 20.8%, selling 1,432 shares during the first quarter, resulting in a total ownership of 5,443 shares valued at $1,355,000.
• WD-40 reported earnings of $1.54 EPS for the quarter, exceeding analyst expectations, but their revenue of $156.92 million fell short of the anticipated $160.60 million.
• The company recently announced a quarterly dividend of $0.94 per share with an annual yield of 1.8%, and has a dividend payout ratio of 59.21%.

Amundi lessened its stake in WD-40 Company (NASDAQ:WDFC - Free Report) by 20.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,443 shares of the specialty chemicals company's stock after selling 1,432 shares during the quarter. Amundi's holdings in WD-40 were worth $1,355,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ameriflex Group Inc. acquired a new stake in shares of WD-40 in the fourth quarter valued at approximately $25,000. Versant Capital Management Inc increased its stake in WD-40 by 96.1% during the first quarter. Versant Capital Management Inc now owns 149 shares of the specialty chemicals company's stock worth $36,000 after acquiring an additional 73 shares during the last quarter. Golden State Wealth Management LLC increased its stake in WD-40 by 210.6% during 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. Parallel Advisors LLC increased its stake in WD-40 by 82.6% during the first quarter. Parallel Advisors LLC now owns 157 shares of the specialty chemicals company's stock worth $38,000 after acquiring an additional 71 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in WD-40 by 420.0% during the first quarter. Farther Finance Advisors LLC now owns 156 shares of the specialty chemicals company's stock worth $38,000 after acquiring an additional 126 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 cut their target price 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 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $290.00.

WD-40 Trading Down 2.2%

Shares of WDFC traded down $4.61 during midday trading on Monday, hitting $206.42. 216,051 shares of the stock were exchanged, compared to its average volume of 90,275. WD-40 Company has a 52-week low of $206.22 and a 52-week high of $292.36. The stock has a fifty day simple moving average of $218.06 and a 200 day simple moving average of $229.96. The firm has a market cap of $2.79 billion, a P/E ratio of 32.51 and a beta of 0.13. 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 (NASDAQ:WDFC - Get Free Report) last released its quarterly earnings results on Thursday, July 10th. The specialty chemicals company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.40 by $0.14. WD-40 had a return on equity of 31.23% and a net margin of 14.13%.The business had revenue of $156.92 million during the quarter, compared to analyst estimates of $160.60 million. During the same period last year, the business posted $1.46 earnings per share. The company's quarterly revenue was up 1.2% on a year-over-year basis. On average, research analysts anticipate that WD-40 Company will post 5.42 EPS for the current fiscal 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 issued 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 1.8%. WD-40's dividend payout ratio (DPR) is 59.21%.

About WD-40

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.