Bank of New York Mellon Corp Decreases Position in WD-40 Company (NASDAQ:WDFC)

Bank of New York Mellon Corp lessened its stake in shares of WD-40 Company (NASDAQ:WDFC - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 125,329 shares of the specialty chemicals company's stock after selling 4,565 shares during the period. 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 & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. D.A. Davidson & CO. lifted its position in shares of WD-40 by 5.9% in the first quarter. D.A. Davidson & CO. now owns 895 shares of the specialty chemicals company's stock valued at $218,000 after acquiring an additional 50 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of WD-40 by 343.7% in the first quarter. Teacher Retirement System of Texas now owns 21,797 shares of the specialty chemicals company's stock worth $5,318,000 after buying an additional 16,884 shares in the last quarter. GCQ FUNDS MANAGEMENT PTY Ltd boosted its position in WD-40 by 245.0% during the first quarter. GCQ FUNDS MANAGEMENT PTY Ltd now owns 64,423 shares of the specialty chemicals company's stock worth $15,719,000 after acquiring an additional 45,747 shares during the last quarter. KBC Group NV boosted its position in WD-40 by 8.9% during the first quarter. KBC Group NV now owns 597 shares of the specialty chemicals company's stock worth $146,000 after acquiring an additional 49 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in WD-40 by 37.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,299 shares of the specialty chemicals company's stock valued at $563,000 after acquiring an additional 627 shares in the last quarter. 91.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, DA Davidson lowered their target price on WD-40 from $322.00 to $300.00 and set a "buy" rating on the stock in a report on Friday, July 11th.

WD-40 Trading Down 1.0%

Shares of WDFC traded down $2.18 during midday trading on Thursday, reaching $223.15. The company had a trading volume of 49,568 shares, compared to its average volume of 147,886. WD-40 Company has a 1-year low of $208.00 and a 1-year high of $292.36. 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 firm has a 50 day simple moving average of $238.29 and a 200-day simple moving average of $235.35. The stock has a market cap of $3.02 billion, a PE ratio of 35.14 and a beta of 0.14.

WD-40 (NASDAQ:WDFC - Get Free Report) last released its quarterly earnings data on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.14. The firm 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 was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $1.46 earnings per share. Research analysts forecast that WD-40 Company will post 5.42 EPS for the current fiscal year.

WD-40 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 18th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, July 18th. This represents a $3.76 annualized dividend and a yield of 1.68%. 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.