Entropy Technologies LP Has $781,000 Stock Position in WD-40 Company (NASDAQ:WDFC)

Key Points

• Entropy Technologies LP increased its holdings in WD-40 Company by 255.6% in the first quarter, acquiring 2,300 additional shares, bringing its total to 3,200 shares valued at approximately $781,000.
• WD-40 reported an EPS of $1.54 for the most recent quarter, exceeding analyst expectations, despite revenue falling short at $156.92 million.
• The company recently announced a quarterly dividend of $0.94, resulting in an annual dividend yield of 1.7% with a payout ratio of 59.21%.

Entropy Technologies LP raised its position in shares of WD-40 Company (NASDAQ:WDFC - Free Report) by 255.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,200 shares of the specialty chemicals company's stock after acquiring an additional 2,300 shares during the period. Entropy Technologies LP's holdings in WD-40 were worth $781,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of 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 worth $447,000 after acquiring an additional 491 shares in the last quarter. KBC Group NV grew its holdings in WD-40 by 8.9% in the 1st quarter. KBC Group NV now owns 597 shares of the specialty chemicals company's stock worth $146,000 after buying an additional 49 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in WD-40 by 15.6% during 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 buying an additional 645 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of WD-40 by 17.0% during the 1st quarter. GAMMA Investing LLC now owns 468 shares of the specialty chemicals company's stock worth $114,000 after acquiring an additional 68 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of 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 worth $563,000 after buying an additional 627 shares during the period. Institutional investors and hedge funds own 91.52% of the company's stock.

WD-40 Stock Down 1.2%

Shares of NASDAQ:WDFC traded down $2.68 during midday trading on Friday, hitting $219.98. 88,019 shares of the stock were exchanged, compared to its average volume of 148,585. WD-40 Company has a 52-week low of $208.00 and a 52-week high of $292.36. The business's fifty day simple moving average is $227.90 and its two-hundred day simple moving average is $232.71. 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 company has a market capitalization of $2.98 billion, a PE ratio of 34.64 and a beta of 0.15.

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 for the quarter, beating 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 company had revenue of $156.92 million for the quarter, compared to analyst estimates of $160.60 million. During the same period last year, the company earned $1.46 earnings per share. The business's revenue was up 1.2% compared to the same quarter last year. As a group, research analysts predict that WD-40 Company will post 5.42 earnings per share for the current fiscal year.

WD-40 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 18th were paid a $0.94 dividend. 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%.

Analyst Ratings Changes

Separately, DA Davidson decreased their target price on WD-40 from $322.00 to $300.00 and set a "buy" rating for the company in a research 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.