Cubist Systematic Strategies LLC Sells 10,715 Shares of 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 reduced its stake in WD-40 Company (NASDAQ:WDFC - Free Report) by 25.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in WD-40 by 0.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 568,302 shares of the specialty chemicals company's stock worth $138,666,000 after purchasing an additional 4,672 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in shares of WD-40 by 18.7% during the first quarter. Geneva Capital Management LLC now owns 248,197 shares of the specialty chemicals company's stock worth $60,560,000 after buying an additional 39,137 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of WD-40 by 122.0% during the first quarter. Invesco Ltd. now owns 162,181 shares of the specialty chemicals company's stock worth $39,572,000 after buying an additional 89,120 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of WD-40 by 206.9% during the fourth quarter. Millennium Management LLC now owns 158,156 shares of the specialty chemicals company's stock worth $38,381,000 after buying an additional 106,617 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of WD-40 by 28,448.0% during the first quarter. GAMMA Investing LLC now owns 114,192 shares of the specialty chemicals company's stock worth $27,863,000 after buying an additional 113,792 shares during the last quarter. 91.52% of the stock is currently owned by institutional investors and hedge funds.

WD-40 Stock Performance

Shares of NASDAQ WDFC traded up $1.42 during trading hours on Friday, reaching $218.08. The stock had a trading volume of 69,030 shares, compared to its average volume of 84,386. The business's fifty day moving average is $221.19 and its two-hundred day moving average is $230.94. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.84 and a quick ratio of 2.02. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 34.34 and a beta of 0.13. WD-40 Company has a twelve month low of $208.00 and a twelve month high of $292.36.

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

WD-40 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 18th were paid 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 is currently 59.21%.

Analysts Set New Price Targets

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 investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, WD-40 presently has a consensus rating of "Moderate Buy" and a consensus price target of $290.00.

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.