Cubist Systematic Strategies LLC Reduces Stock Position in WD-40 Company $WDFC

Key Points

• Cubist Systematic Strategies LLC has reduced its stake in WD-40 Company by 25.7%, now holding 31,013 shares valued at approximately $7.57 million.
• WD-40 recently reported earnings of $1.54 per share for the last quarter, exceeding estimates, but revenue of $156.92 million fell short of expectations.
• The company has declared a quarterly dividend of $0.94 per share, resulting in an annualized dividend yield of 1.8%, with a payout ratio of 59.21%.

Cubist Systematic Strategies LLC decreased its stake in WD-40 Company (NASDAQ:WDFC - Free Report) by 25.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,013 shares of the specialty chemicals company's stock after selling 10,715 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.23% of WD-40 worth $7,567,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDFC. Stratos Wealth Partners LTD. grew its position in shares of WD-40 by 4.8% during the first quarter. Stratos Wealth Partners LTD. now owns 1,048 shares of the specialty chemicals company's stock worth $256,000 after purchasing an additional 48 shares in the last quarter. KBC Group NV grew its position in shares of 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 purchasing an additional 49 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of WD-40 by 5.9% during the first quarter. D.A. Davidson & CO. now owns 895 shares of the specialty chemicals company's stock worth $218,000 after purchasing an additional 50 shares in the last quarter. Xponance Inc. grew its position in shares of WD-40 by 5.4% during the first quarter. Xponance Inc. now owns 1,037 shares of the specialty chemicals company's stock worth $253,000 after purchasing an additional 53 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in WD-40 by 3.9% during the 1st quarter. Private Advisor Group LLC now owns 1,482 shares of the specialty chemicals company's stock valued at $362,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 91.52% of the company's stock.

Analyst Ratings Changes

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

WD-40 Trading Down 1.2%

Shares of WDFC stock traded down $2.61 on Monday, reaching $215.48. 13,052 shares of the company's stock were exchanged, compared to its average volume of 142,768. WD-40 Company has a 52 week low of $208.00 and a 52 week 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 stock has a market capitalization of $2.92 billion, a PE ratio of 33.97 and a beta of 0.13. The company's fifty day simple moving average is $221.19 and its 200 day simple moving average is $230.94.

WD-40 (NASDAQ:WDFC - Get Free Report) last released its quarterly earnings data on Thursday, July 10th. The specialty chemicals company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.40 by $0.14. The company had revenue of $156.92 million for the quarter, compared to the consensus estimate of $160.60 million. WD-40 had a return on equity of 31.23% and a net margin of 14.13%.WD-40's quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the business posted $1.46 EPS. As a group, analysts forecast that WD-40 Company will post 5.42 EPS for the current year.

WD-40 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 18th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, July 18th. 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.