WD-40 Company (NASDAQ:WDFC) Shares Sold by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC reduced its stake in WD-40 Company by 27.1% during Q1, selling over 108,000 shares, bringing their total holdings to 290,829 shares valued at around $70.96 million.
• Despite Neuberger's pullback, other institutional investors increased their positions, with Invesco Ltd. boosting its holdings by 122.0% and GAMMA Investing LLC growing its stake by 28,448.0%.
• WD-40 Company reported Q2 earnings of $1.54 per share, exceeding estimates, although revenue of $156.92 million fell short of expectations, highlighting a 1.2% year-over-year revenue growth.

Neuberger Berman Group LLC reduced its holdings in shares of WD-40 Company (NASDAQ:WDFC - Free Report) by 27.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 290,829 shares of the specialty chemicals company's stock after selling 108,077 shares during the quarter. Neuberger Berman Group LLC owned 2.15% of WD-40 worth $70,962,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Bank of Montreal Can grew its holdings in WD-40 by 9.7% during the 4th quarter. Bank of Montreal Can now owns 2,124 shares of the specialty chemicals company's stock worth $515,000 after acquiring an additional 187 shares in the last quarter. Invesco Ltd. lifted its position in shares of WD-40 by 9.5% during the fourth quarter. Invesco Ltd. now owns 73,061 shares of the specialty chemicals company's stock worth $17,730,000 after purchasing an additional 6,330 shares during the last quarter. Raymond James Financial Inc. acquired a new position in WD-40 in the fourth quarter worth about $17,903,000. Summit Investment Advisors Inc. increased its holdings in WD-40 by 5.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,425 shares of the specialty chemicals company's stock valued at $346,000 after buying an additional 70 shares during the last quarter. Finally, Mariner LLC raised its stake in WD-40 by 3.2% during the fourth quarter. Mariner LLC now owns 7,850 shares of the specialty chemicals company's stock valued at $1,905,000 after buying an additional 240 shares in the last quarter. Institutional investors and hedge funds own 91.52% of the company's stock.

WD-40 Stock Performance

Shares of NASDAQ:WDFC traded down $2.68 on Friday, reaching $219.98. 88,019 shares of the company's stock were exchanged, compared to its average volume of 151,173. The business's 50-day moving average is $227.39 and its two-hundred day moving average is $232.60. The company has a quick ratio of 2.02, a current ratio of 2.84 and a debt-to-equity ratio of 0.33. WD-40 Company has a fifty-two week low of $208.00 and a fifty-two week high of $292.36. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 34.64 and a beta of 0.15.

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

WD-40 Announces Dividend

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

Wall Street Analyst Weigh In

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.

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.