Fifth Third Bancorp Boosts Holdings in WD-40 Company $WDFC

Key Points

• Fifth Third Bancorp sharply increased its WD-40 stake in Q1, boosting holdings by 10,648.8% to 22,250 shares valued at about $4.54 million.
• WD-40 reported better-than-expected fiscal Q2 results, with EPS of $2.33 versus $1.58 expected and revenue of $195.12 million, up 24.3% year over year.
• The company also declared a quarterly dividend of $1.02 per share, while analysts currently have a consensus Buy rating and an average price target of $305.

Fifth Third Bancorp increased its stake in shares of WD-40 Company (NASDAQ:WDFC - Free Report) by 10,648.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,250 shares of the specialty chemicals company's stock after purchasing an additional 22,043 shares during the period. Fifth Third Bancorp owned 0.17% of WD-40 worth $4,538,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WDFC. Sequoia Financial Advisors LLC boosted its position in WD-40 by 4.0% during the first quarter. Sequoia Financial Advisors LLC now owns 2,835 shares of the specialty chemicals company's stock worth $578,000 after acquiring an additional 110 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in WD-40 by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 3,106 shares of the specialty chemicals company's stock valued at $633,000 after acquiring an additional 56 shares during the period. R Squared Ltd increased its stake in WD-40 by 18.0% during the first quarter. R Squared Ltd now owns 1,879 shares of the specialty chemicals company's stock worth $383,000 after acquiring an additional 287 shares during the last quarter. HB Wealth Management LLC purchased a new position in shares of WD-40 in the 1st quarter worth about $212,000. Finally, Inspire Investing LLC raised its holdings in shares of WD-40 by 6.7% in the 1st quarter. Inspire Investing LLC now owns 2,525 shares of the specialty chemicals company's stock worth $515,000 after purchasing an additional 159 shares during the period. 91.52% of the stock is currently owned by hedge funds and other institutional investors.

WD-40 Stock Performance

Shares of WDFC stock opened at $246.79 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.65 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average of $223.97 and a two-hundred day moving average of $220.98. WD-40 Company has a 52 week low of $175.38 and a 52 week high of $298.90. The company has a market cap of $3.31 billion, a P/E ratio of 37.51 and a beta of 0.26.

WD-40 (NASDAQ:WDFC - Get Free Report) last released its quarterly earnings data on Thursday, July 9th. The specialty chemicals company reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.75. The business had revenue of $195.12 million during the quarter, compared to analyst estimates of $172.79 million. WD-40 had a return on equity of 33.53% and a net margin of 13.23%.The business's revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 EPS. WD-40 has set its FY 2026 guidance at 6.050-6.350 EPS. As a group, analysts anticipate that WD-40 Company will post 6.26 EPS for the current year.

WD-40 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, July 17th. WD-40's dividend payout ratio (DPR) is 62.01%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WDFC shares. DA Davidson boosted their target price on WD-40 from $270.00 to $305.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Weiss Ratings cut shares of WD-40 from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, May 26th. Jefferies Financial Group reissued a "hold" rating on shares of WD-40 in a research report on Friday, July 10th. Northcoast Research upgraded WD-40 to a "strong-buy" rating in a report on Wednesday, June 24th. Finally, William Blair initiated coverage on shares of WD-40 in a research note on Monday, April 6th. They set an "outperform" rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, WD-40 currently has an average rating of "Buy" and a consensus target price of $305.00.

WD-40 Company Profile

WD-40 Company, headquartered in San Diego, California, is best known for its flagship WD-40® Multi-Use Product, a water-displacing spray used for lubrication, rust prevention and cleaning. Since its introduction in 1953 by the Rocket Chemical Company, the WD-40 brand has become a household and industrial staple. Over time, the company has broadened its portfolio to include complementary maintenance and cleaning brands such as 3-IN-ONE® oils, Lava® hand cleaners, Solvol® solvents, Spot Shot® stain removers and X-14® cleaning products.

WD-40 Company distributes its products in more than 176 countries through retail, industrial and automotive channels.

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