PineStone Asset Management Inc. Has $9.95 Million Holdings in WD-40 Company $WDFC

Key Points

• PineStone Asset Management Inc. increased its holdings in WD-40 Company by 7.1% in Q2, owning 43,610 shares valued at approximately $9.95 million.
• WD-40 Company reported earnings of $1.54 per share for the last quarter, surpassing estimates, though its revenue of $156.92 million fell short of expectations.
• Analysts have a current average rating of "Moderate Buy" for WD-40 stock, with a price target adjusted down to $300.00.

PineStone Asset Management Inc. lifted its holdings in WD-40 Company (NASDAQ:WDFC - Free Report) by 7.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,610 shares of the specialty chemicals company's stock after purchasing an additional 2,910 shares during the period. PineStone Asset Management Inc. owned 0.32% of WD-40 worth $9,947,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WDFC. Ameriflex Group Inc. acquired a new position in WD-40 during the 4th quarter worth $25,000. Versant Capital Management Inc lifted 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 lifted 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. Parallel Advisors LLC lifted 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. Finally, Farther Finance Advisors LLC lifted its position in WD-40 by 420.0% during the 1st quarter. Farther Finance Advisors LLC now owns 156 shares of the specialty chemicals company's stock worth $38,000 after acquiring an additional 126 shares during the last quarter. Institutional investors and hedge funds own 91.52% of the company's stock.

Analyst Ratings Changes

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

WD-40 Stock Performance

NASDAQ:WDFC opened at $199.39 on Friday. The firm's 50-day moving average is $215.17 and its 200-day moving average is $228.22. WD-40 Company has a 52-week low of $198.62 and a 52-week high of $292.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.02 and a current ratio of 2.84. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 31.40 and a beta of 0.13.

WD-40 (NASDAQ:WDFC - Get Free Report) last posted its quarterly earnings data on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share (EPS) 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 company had revenue of $156.92 million for the quarter, compared to the consensus estimate of $160.60 million. During the same quarter in the previous year, the firm posted $1.46 EPS. The business's revenue was up 1.2% compared to the same quarter last year. Equities research analysts anticipate that WD-40 Company will post 5.42 earnings per share for the current year.

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.

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