Bank of New York Mellon Corp Sells 4,565 Shares of WD-40 Company (NASDAQ:WDFC)

Bank of New York Mellon Corp lowered its stake in shares of WD-40 Company (NASDAQ:WDFC - Free Report) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,329 shares of the specialty chemicals company's stock after selling 4,565 shares during the quarter. Bank of New York Mellon Corp owned 0.93% of WD-40 worth $30,580,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of WD-40 by 36.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,830 shares of the specialty chemicals company's stock valued at $447,000 after purchasing an additional 491 shares during the last quarter. KBC Group NV boosted its stake in WD-40 by 8.9% during the 1st quarter. KBC Group NV now owns 597 shares of the specialty chemicals company's stock valued at $146,000 after purchasing an additional 49 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of WD-40 by 15.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,789 shares of the specialty chemicals company's stock worth $1,168,000 after acquiring an additional 645 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of WD-40 by 37.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,299 shares of the specialty chemicals company's stock worth $563,000 after acquiring an additional 627 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of WD-40 by 17.0% in the 1st quarter. GAMMA Investing LLC now owns 468 shares of the specialty chemicals company's stock worth $114,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 91.52% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson dropped their price objective on shares of WD-40 from $322.00 to $300.00 and set a "buy" rating on the stock in a research note on Friday, July 11th.

WD-40 Price Performance

NASDAQ:WDFC traded down $3.02 during mid-day trading on Friday, reaching $217.85. 125,071 shares of the company were exchanged, compared to its average volume of 121,696. WD-40 Company has a 12 month low of $208.00 and a 12 month high of $292.36. The company has a fifty day moving average of $237.74 and a 200 day moving average of $235.04. 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 stock has a market cap of $2.95 billion, a PE ratio of 34.31 and a beta of 0.14.

WD-40 (NASDAQ:WDFC - Get Free Report) last issued its earnings results on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.14. WD-40 had a net margin of 14.13% and a return on equity of 31.23%. The company had revenue of $156.92 million for the quarter, compared to analyst estimates of $160.60 million. During the same quarter last year, the firm earned $1.46 EPS. The company's revenue for the quarter 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 18th will be issued a $0.94 dividend. The ex-dividend date is Friday, July 18th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.73%. WD-40's dividend payout ratio (DPR) is presently 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.