GCQ FUNDS MANAGEMENT PTY Ltd Acquires New Stake in WD-40 Company $WDFC

GCQ FUNDS MANAGEMENT PTY Ltd bought a new position in shares of WD-40 Company (NASDAQ:WDFC - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 30,749 shares of the specialty chemicals company's stock, valued at approximately $7,492,000. WD-40 accounts for 1.0% of GCQ FUNDS MANAGEMENT PTY Ltd's holdings, making the stock its 13th biggest holding. GCQ FUNDS MANAGEMENT PTY Ltd owned approximately 0.23% of WD-40 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. EP Wealth Advisors LLC acquired a new position in shares of WD-40 in the second quarter worth approximately $215,000. Ieq Capital LLC acquired a new position in shares of WD-40 in the 2nd quarter worth approximately $949,000. Callan Family Office LLC bought a new stake in shares of WD-40 in the 2nd quarter valued at $509,000. Allworth Financial LP bought a new stake in shares of WD-40 in the 2nd quarter valued at $279,000. Finally, Virtus Advisers LLC acquired a new stake in shares of WD-40 during the second quarter worth $451,000. Institutional investors and hedge funds own 91.52% of the company's stock.

Analyst Ratings Changes

WDFC has been the subject of a number of analyst reports. Weiss Ratings downgraded shares of WD-40 from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, May 26th. Northcoast Research upgraded WD-40 to a "strong-buy" rating in a report on Wednesday, June 24th. Zacks Research upgraded WD-40 from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Jefferies Financial Group reissued a "hold" rating on shares of WD-40 in a research report on Friday, July 10th. Finally, DA Davidson boosted their price objective on WD-40 from $270.00 to $305.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $305.00.

WD-40 Stock Performance

NASDAQ:WDFC opened at $217.08 on Friday. The company has a fifty day moving average of $235.97 and a 200-day moving average of $225.23. The firm has a market capitalization of $2.91 billion, a P/E ratio of 32.99 and a beta of 0.27. The company has a quick ratio of 1.95, a current ratio of 2.65 and a debt-to-equity ratio of 0.31. WD-40 Company has a twelve month low of $175.38 and a twelve month high of $298.90.

WD-40 (NASDAQ:WDFC - Get Free Report) last issued its earnings results on Thursday, July 9th. The specialty chemicals company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.75. The business had revenue of $195.12 million for the quarter, compared to analyst estimates of $172.79 million. WD-40 had a net margin of 13.23% and a return on equity of 33.53%. WD-40's revenue was up 24.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.54 earnings per share. WD-40 has set its FY 2026 guidance at 6.050-6.350 EPS. As a group, sell-side analysts anticipate that WD-40 Company will post 6.24 EPS for the current year.

WD-40 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were issued a dividend of $1.02 per share. The ex-dividend date was Friday, July 17th. This represents a $4.08 annualized dividend and a dividend yield of 1.9%. WD-40's dividend payout ratio is currently 62.01%.

Insider Activity

In other news, insider Patricia Q. Olsem sold 300 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $233.73, for a total transaction of $70,119.00. Following the transaction, the insider owned 4,774 shares of the company's stock, valued at $1,115,827.02. This represents a 5.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.78% of the stock is owned by company insiders.

WD-40 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source