2,011 Shares in WD-40 Company (NASDAQ:WDFC) Acquired by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd invested approximately $491,000 in WD-40 Company by purchasing 2,011 shares during the first quarter.
• WD-40 recently reported earnings of $1.54 per share, exceeding analysts' expectations of $1.40, with revenue for the quarter at $156.92 million.
• The company declared a quarterly dividend of $0.94 per share, representing an annualized dividend yield of 1.77%, with an ex-dividend date of July 18th.

Bayforest Capital Ltd bought a new stake in WD-40 Company (NASDAQ:WDFC - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,011 shares of the specialty chemicals company's stock, valued at approximately $491,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in WD-40 in the fourth quarter valued at approximately $54,571,000. GAMMA Investing LLC boosted its stake in WD-40 by 28,448.0% during the 1st quarter. GAMMA Investing LLC now owns 114,192 shares of the specialty chemicals company's stock valued at $27,863,000 after purchasing an additional 113,792 shares during the period. Millennium Management LLC boosted its holdings in shares of WD-40 by 206.9% in the fourth quarter. Millennium Management LLC now owns 158,156 shares of the specialty chemicals company's stock valued at $38,381,000 after acquiring an additional 106,617 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of WD-40 during the fourth quarter valued at $17,903,000. Finally, GCQ FUNDS MANAGEMENT PTY Ltd increased its holdings in shares of WD-40 by 245.0% in the 1st quarter. GCQ FUNDS MANAGEMENT PTY Ltd now owns 64,423 shares of the specialty chemicals company's stock valued at $15,719,000 after purchasing an additional 45,747 shares during the period. 91.52% of the stock is owned by institutional investors and hedge funds.

WD-40 Stock Down 0.3%

Shares of WD-40 stock traded down $0.66 during trading hours on Monday, reaching $214.54. 56,987 shares of the company's stock were exchanged, compared to its average volume of 151,530. The company has a 50 day moving average of $232.01 and a two-hundred day moving average of $233.52. WD-40 Company has a fifty-two week low of $208.00 and a fifty-two week high of $292.36. The stock has a market cap of $2.90 billion, a P/E ratio of 33.77 and a beta of 0.15. The company has a current ratio of 2.84, a quick ratio of 2.02 and a debt-to-equity ratio of 0.33.

WD-40 (NASDAQ:WDFC - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $156.92 million during the quarter, compared to the consensus estimate of $160.60 million. WD-40 had a net margin of 14.13% and a return on equity of 31.23%. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 earnings per share. On average, sell-side analysts forecast that WD-40 Company will post 5.42 EPS for the current fiscal year.

WD-40 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 18th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, July 18th. WD-40's dividend payout ratio (DPR) is presently 59.21%.

Analyst Upgrades and Downgrades

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.

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.