Bayforest Capital Ltd Makes New Investment in WD-40 Company $WDFC

Key Points

• Bayforest Capital Ltd invested approximately $491,000 in 2,011 shares of WD-40 Company during the first quarter of the year.
• WD-40's latest quarterly earnings showed an earnings per share (EPS) of $1.54, exceeding the consensus estimate of $1.40, with a net margin of 14.13%.
• The company recently declared a quarterly dividend of $0.94, which translates to an annualized yield of 1.7% and a payout ratio of 59.21%.

Bayforest Capital Ltd purchased a new stake in WD-40 Company (NASDAQ:WDFC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,011 shares of the specialty chemicals company's stock, valued at approximately $491,000.

Several other large investors have also modified their holdings of the business. Stratos Wealth Partners LTD. lifted its stake in shares of WD-40 by 4.8% in the 1st quarter. Stratos Wealth Partners LTD. now owns 1,048 shares of the specialty chemicals company's stock valued at $256,000 after purchasing an additional 48 shares during the last quarter. KBC Group NV lifted its stake in shares of WD-40 by 8.9% in 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 last quarter. D.A. Davidson & CO. lifted its stake in shares of WD-40 by 5.9% in the 1st quarter. D.A. Davidson & CO. now owns 895 shares of the specialty chemicals company's stock valued at $218,000 after purchasing an additional 50 shares during the last quarter. Xponance Inc. lifted its stake in shares of WD-40 by 5.4% in the 1st quarter. Xponance Inc. now owns 1,037 shares of the specialty chemicals company's stock valued at $253,000 after purchasing an additional 53 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in shares of WD-40 by 3.9% in the 1st quarter. Private Advisor Group LLC now owns 1,482 shares of the specialty chemicals company's stock valued at $362,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds own 91.52% of the company's stock.

WD-40 Trading Down 0.8%

WDFC traded down $1.77 during mid-day trading on Friday, hitting $211.03. 101,918 shares of the stock were exchanged, compared to its average volume of 89,580. The firm's fifty day moving average is $218.53 and its two-hundred day moving average is $230.29. WD-40 Company has a 1-year low of $208.00 and a 1-year high of $292.36. The company has a current ratio of 2.84, a quick ratio of 2.02 and a debt-to-equity ratio of 0.33. The company has a market cap of $2.86 billion, a PE ratio of 33.23 and a beta of 0.13.

WD-40 (NASDAQ:WDFC - Get Free Report) last posted its 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. WD-40 had a return on equity of 31.23% and a net margin of 14.13%.The firm had revenue of $156.92 million for the quarter, compared to analyst estimates of $160.60 million. During the same quarter in the prior year, the company earned $1.46 EPS. WD-40's revenue was up 1.2% on a year-over-year basis. Equities analysts forecast that WD-40 Company will post 5.42 earnings per share for the current fiscal year.

WD-40 Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, DA Davidson decreased their price target on WD-40 from $322.00 to $300.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $290.00.

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.