GCQ FUNDS MANAGEMENT PTY Ltd Has $15.72 Million Position in WD-40 Company (NASDAQ:WDFC)

GCQ FUNDS MANAGEMENT PTY Ltd increased its position in shares of WD-40 Company (NASDAQ:WDFC - Free Report) by 245.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,423 shares of the specialty chemicals company's stock after purchasing an additional 45,747 shares during the quarter. WD-40 accounts for approximately 3.9% of GCQ FUNDS MANAGEMENT PTY Ltd's investment portfolio, making the stock its 9th largest holding. GCQ FUNDS MANAGEMENT PTY Ltd owned 0.48% of WD-40 worth $15,719,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of WDFC. Norges Bank acquired a new position in WD-40 in the 4th quarter valued at $54,571,000. GAMMA Investing LLC raised its holdings in shares of WD-40 by 28,448.0% in the 1st quarter. GAMMA Investing LLC now owns 114,192 shares of the specialty chemicals company's stock valued at $27,863,000 after buying an additional 113,792 shares during the period. Millennium Management LLC lifted its holdings in WD-40 by 206.9% during the 4th 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 in the last quarter. Raymond James Financial Inc. acquired a new position in shares of WD-40 during the fourth quarter worth about $17,903,000. Finally, Balyasny Asset Management L.P. purchased a new position in WD-40 in the fourth quarter valued at $10,179,000. Hedge funds and other institutional investors own 91.52% of the company's stock.

WD-40 Price Performance

NASDAQ WDFC traded up $22.16 during trading hours on Thursday, reaching $253.66. The company's stock had a trading volume of 124,598 shares, compared to its average volume of 120,866. WD-40 Company has a fifty-two week low of $208.00 and a fifty-two week high of $292.36. The stock has a market cap of $3.44 billion, a PE ratio of 40.46 and a beta of 0.14. The company's 50-day moving average is $237.60 and its two-hundred day moving average is $236.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.69 and a current ratio of 2.40.

WD-40 (NASDAQ:WDFC - Get Free Report) last issued its earnings results on Tuesday, April 8th. The specialty chemicals company reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.05. WD-40 had a return on equity of 31.55% and a net margin of 13.99%. The business had revenue of $146.10 million during the quarter, compared to analysts' expectations of $154.40 million. During the same quarter in the previous year, the business earned $1.14 EPS. The company's revenue for the quarter was up 5.0% on a year-over-year basis. Analysts forecast that WD-40 Company will post 5.42 EPS for the current year.

WD-40 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 18th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, July 18th. WD-40's payout ratio is 59.97%.

Analysts Set New Price Targets

Separately, DA Davidson upgraded shares of WD-40 to a "strong-buy" rating in a research note on Monday, April 14th.

Insider Transactions at WD-40

In related news, CFO Sara Kathleen Hyzer bought 256 shares of the company's stock in a transaction dated Friday, April 11th. The stock was bought at an average price of $222.83 per share, with a total value of $57,044.48. Following the transaction, the chief financial officer owned 4,072 shares of the company's stock, valued at approximately $907,363.76. This trade represents a 6.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.75% of the stock is owned by corporate insiders.

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.