Bank of America Corp DE grew its stake in WD-40 Company (NASDAQ:WDFC - Free Report) by 19.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,888 shares of the specialty chemicals company's stock after acquiring an additional 7,002 shares during the period. Bank of America Corp DE owned 0.32% of WD-40 worth $8,747,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of WDFC. Quarry LP grew its stake in WD-40 by 1,462.5% in the third quarter. Quarry LP now owns 125 shares of the specialty chemicals company's stock valued at $25,000 after purchasing an additional 117 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of WD-40 by 207.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 157 shares of the specialty chemicals company's stock worth $36,000 after purchasing an additional 106 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of WD-40 by 400.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 215 shares of the specialty chemicals company's stock worth $42,000 after purchasing an additional 172 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of WD-40 by 195.4% during the 3rd quarter. Parallel Advisors LLC now owns 257 shares of the specialty chemicals company's stock worth $51,000 after purchasing an additional 170 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of WD-40 by 243.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 278 shares of the specialty chemicals company's stock valued at $55,000 after buying an additional 197 shares during the last quarter. Institutional investors and hedge funds own 91.52% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. DA Davidson boosted their target price on shares of WD-40 from $270.00 to $305.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Jefferies Financial Group reissued a "hold" rating on shares of WD-40 in a research report on Friday, July 10th. Zacks Research upgraded shares of WD-40 from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Weiss Ratings cut shares of WD-40 from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, May 26th. Finally, Northcoast Research upgraded shares of WD-40 to a "strong-buy" rating in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $305.00.
View Our Latest Stock Analysis on WD-40
WD-40 Trading Down 0.5%
Shares of WD-40 stock opened at $215.89 on Tuesday. The business has a fifty day simple moving average of $235.76 and a two-hundred day simple moving average of $225.02. WD-40 Company has a 1 year low of $175.38 and a 1 year high of $298.90. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 32.81 and a beta of 0.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.65 and a quick ratio of 1.95.
WD-40 (NASDAQ:WDFC - Get Free Report) last released its quarterly earnings data on Thursday, July 9th. The specialty chemicals company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.58 by $0.75. The firm had revenue of $195.12 million for the quarter, compared to the consensus estimate of $172.79 million. WD-40 had a net margin of 13.23% and a return on equity of 33.53%. The company's quarterly revenue was up 24.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.54 earnings per share. WD-40 has set its FY 2026 guidance at 6.050-6.350 EPS. Research analysts forecast that WD-40 Company will post 6.24 EPS for the current year.
WD-40 Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, July 17th. This represents a $4.08 annualized dividend and a dividend yield of 1.9%. WD-40's payout ratio is presently 62.01%.
Insider Buying and Selling
In other WD-40 news, insider Patricia Q. Olsem sold 300 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $233.73, for a total transaction of $70,119.00. Following the completion of the sale, the insider directly owned 4,774 shares in the company, valued at $1,115,827.02. This trade represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.78% of the company's stock.
WD-40 Company Profile
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Free Report)
WD-40 Company, headquartered in San Diego, California, is best known for its flagship WD-40® Multi-Use Product, a water-displacing spray used for lubrication, rust prevention and cleaning. Since its introduction in 1953 by the Rocket Chemical Company, the WD-40 brand has become a household and industrial staple. Over time, the company has broadened its portfolio to include complementary maintenance and cleaning brands such as 3-IN-ONE® oils, Lava® hand cleaners, Solvol® solvents, Spot Shot® stain removers and X-14® cleaning products.
WD-40 Company distributes its products in more than 176 countries through retail, industrial and automotive channels.
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