Nuveen LLC Buys Shares of 38,657 WD-40 Company $WDFC

Key Points

• Nuveen LLC has acquired a stake of 38,657 shares in WD-40 Company, valued at approximately $9.43 million, representing a 0.29% ownership of the company.
• WD-40 Company exceeded earnings expectations with a reported $1.54 EPS for the last quarter, beating the consensus estimate of $1.40.
• The company's dividend yield stands at 1.7%, with a recent quarterly dividend of $0.94 per share announced for distribution in July.

Nuveen LLC purchased a new position in WD-40 Company (NASDAQ:WDFC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 38,657 shares of the specialty chemicals company's stock, valued at approximately $9,432,000. Nuveen LLC owned about 0.29% of WD-40 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. raised its position in shares of WD-40 by 4.8% during the 1st quarter. Stratos Wealth Partners LTD. now owns 1,048 shares of the specialty chemicals company's stock worth $256,000 after buying an additional 48 shares in the last quarter. KBC Group NV raised its position in shares of WD-40 by 8.9% during the 1st quarter. KBC Group NV now owns 597 shares of the specialty chemicals company's stock worth $146,000 after buying an additional 49 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of WD-40 by 5.9% during the 1st quarter. D.A. Davidson & CO. now owns 895 shares of the specialty chemicals company's stock worth $218,000 after buying an additional 50 shares in the last quarter. Xponance Inc. raised its holdings in shares of WD-40 by 5.4% in the 1st quarter. Xponance Inc. now owns 1,037 shares of the specialty chemicals company's stock worth $253,000 after purchasing an additional 53 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of WD-40 by 3.9% in the 1st quarter. Private Advisor Group LLC now owns 1,482 shares of the specialty chemicals company's stock worth $362,000 after purchasing an additional 56 shares in the last quarter. 91.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson dropped their target price on shares of WD-40 from $322.00 to $300.00 and set a "buy" rating on the stock in a report on Friday, July 11th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, WD-40 currently has a consensus rating of "Moderate Buy" and an average price target of $290.00.

WD-40 Trading Down 0.8%

Shares of WD-40 stock traded down $1.66 during trading on Friday, hitting $216.04. The stock had a trading volume of 90,408 shares, compared to its average volume of 95,097. The stock has a 50 day simple moving average of $222.75 and a 200 day simple moving average of $231.48. The company has a market capitalization of $2.92 billion, a PE ratio of 34.02 and a beta of 0.15. 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 1 year low of $208.00 and a 1 year high of $292.36.

WD-40 (NASDAQ:WDFC - Get Free Report) last released its earnings results 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. The business had revenue of $156.92 million for the quarter, compared to the consensus estimate of $160.60 million. WD-40 had a net margin of 14.13% and a return on equity of 31.23%. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. On average, research analysts expect that WD-40 Company will post 5.42 EPS for the current fiscal year.

WD-40 Announces Dividend

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

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.