Invesco Ltd. Acquires 89,120 Shares of WD-40 Company $WDFC

Key Points

• Invesco Ltd. significantly increased its stake in WD-40 Company by purchasing 89,120 shares, bringing its total holdings to 162,181 shares worth approximately $39.57 million.
• WD-40 reported a quarterly EPS of $1.54, surpassing the consensus estimate of $1.40, despite revenue falling short of expectations at $156.92 million.
• The company declared a quarterly dividend of $0.94, translating to an annualized dividend yield of 1.7% with a payout ratio of 59.21%.

Invesco Ltd. increased its holdings in shares of WD-40 Company (NASDAQ:WDFC - Free Report) by 122.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 162,181 shares of the specialty chemicals company's stock after purchasing an additional 89,120 shares during the quarter. Invesco Ltd. owned 1.20% of WD-40 worth $39,572,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Ameriflex Group Inc. acquired a new position in WD-40 during the 4th quarter worth approximately $25,000. TD Waterhouse Canada Inc. acquired a new position in WD-40 during the 4th quarter worth approximately $27,000. Versant Capital Management Inc boosted its position in WD-40 by 96.1% during the 1st quarter. Versant Capital Management Inc now owns 149 shares of the specialty chemicals company's stock worth $36,000 after acquiring an additional 73 shares during the last quarter. Golden State Wealth Management LLC boosted its position in WD-40 by 210.6% during the 1st quarter. Golden State Wealth Management LLC now owns 146 shares of the specialty chemicals company's stock worth $36,000 after acquiring an additional 99 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in WD-40 by 82.6% during the 1st quarter. Parallel Advisors LLC now owns 157 shares of the specialty chemicals company's stock worth $38,000 after acquiring an additional 71 shares during the last quarter. 91.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, DA Davidson reduced their price target 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.

WD-40 Trading Down 0.5%

NASDAQ WDFC opened at $218.81 on Tuesday. The company has a market cap of $2.96 billion, a PE ratio of 34.46 and a beta of 0.15. The company has a current ratio of 2.84, a quick ratio of 2.02 and a debt-to-equity ratio of 0.33. WD-40 Company has a 12 month low of $208.00 and a 12 month high of $292.36. The stock has a 50 day moving average of $226.90 and a 200-day moving average of $232.48.

WD-40 (NASDAQ:WDFC - Get Free Report) last released its quarterly earnings data on Thursday, July 10th. The specialty chemicals company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.40 by $0.14. The company had revenue of $156.92 million during the quarter, compared to the consensus estimate of $160.60 million. WD-40 had a return on equity of 31.23% and a net margin of 14.13%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 EPS. On average, equities research analysts anticipate that WD-40 Company will post 5.42 EPS for the current fiscal year.

WD-40 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 18th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, July 18th. WD-40's dividend payout ratio is presently 59.21%.

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.

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