WD-40 Company $WDFC Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in WD-40 Company by 2.0% in Q1, now owning 147,592 shares valued at $36.01 million.
• Other institutional investors significantly increased their positions, with GAMMA Investing LLC growing its stake by 28,448.0% in the same period.
• WD-40 reported earnings of $1.54 per share for the quarter, exceeding estimates, but revenue of $156.92 million fell short of the expected $160.60 million.

Charles Schwab Investment Management Inc. decreased its position in WD-40 Company (NASDAQ:WDFC - Free Report) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,592 shares of the specialty chemicals company's stock after selling 2,965 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.09% of WD-40 worth $36,012,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its position in WD-40 by 36.7% in the first 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 period. KBC Group NV raised its position in WD-40 by 8.9% in the first 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. raised its position in WD-40 by 15.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,789 shares of the specialty chemicals company's stock valued at $1,168,000 after purchasing an additional 645 shares during the period. GAMMA Investing LLC raised its position in WD-40 by 17.0% in the first quarter. GAMMA Investing LLC now owns 468 shares of the specialty chemicals company's stock valued at $114,000 after purchasing an additional 68 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in WD-40 by 37.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,299 shares of the specialty chemicals company's stock valued at $563,000 after purchasing an additional 627 shares during the period. Hedge funds and other institutional investors own 91.52% of the company's stock.

WD-40 Stock Up 1.1%

Shares of WD-40 stock traded up $2.33 during trading hours on Friday, reaching $222.57. 87,714 shares of the company were exchanged, compared to its average volume of 121,130. WD-40 Company has a 1 year low of $208.00 and a 1 year high of $292.36. The stock's fifty day moving average is $225.14 and its 200 day moving average is $232.05. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.02 and a current ratio of 2.84. The firm has a market cap of $3.01 billion, a PE ratio of 35.05 and a beta of 0.15.

WD-40 (NASDAQ:WDFC - Get Free Report) last posted its quarterly earnings data on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.14. The business had revenue of $156.92 million for the quarter, compared to analyst estimates of $160.60 million. WD-40 had a return on equity of 31.23% and a net margin of 14.13%.The company's revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 earnings per share. As a group, equities research analysts forecast that WD-40 Company will post 5.42 earnings per share for the current 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 was Friday, July 18th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.7%. WD-40's payout ratio is presently 59.21%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson cut their target price on WD-40 from $322.00 to $300.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.