Point72 Asset Management L.P. Takes Position in WD-40 (NASDAQ:WDFC)

Point72 Asset Management L.P. bought a new position in shares of WD-40 (NASDAQ:WDFC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 4,400 shares of the specialty chemicals company's stock, valued at approximately $1,068,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WDFC. Norges Bank acquired a new position in WD-40 during the 4th quarter worth $54,571,000. Millennium Management LLC lifted its position 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 acquiring an additional 106,617 shares during the last quarter. Raymond James Financial Inc. acquired a new position in WD-40 during the 4th quarter worth $17,903,000. Balyasny Asset Management L.P. acquired a new position in WD-40 during the 4th quarter worth $10,179,000. Finally, Marshall Wace LLP lifted its position in WD-40 by 55.4% during the 4th quarter. Marshall Wace LLP now owns 104,431 shares of the specialty chemicals company's stock worth $25,343,000 after acquiring an additional 37,247 shares during the last quarter. Institutional investors and hedge funds own 91.52% of the company's stock.

WD-40 Stock Performance

Shares of WDFC traded down $1.42 during trading hours on Friday, reaching $241.10. 45,681 shares of the company traded hands, compared to its average volume of 101,428. The stock's fifty day moving average is $232.66 and its 200 day moving average is $243.88. The stock has a market cap of $3.27 billion, a P/E ratio of 46.19 and a beta of 0.17. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.75 and a current ratio of 2.44. WD-40 has a 1-year low of $208.00 and a 1-year high of $292.36.

WD-40 (NASDAQ:WDFC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 8th. The specialty chemicals company reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.05. The business had revenue of $146.10 million during the quarter, compared to analyst estimates of $154.40 million. WD-40 had a net margin of 11.78% and a return on equity of 31.68%. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. Equities research analysts anticipate that WD-40 will post 5.42 earnings per share for the current fiscal year.

WD-40 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 18th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, April 17th. WD-40's dividend payout ratio (DPR) is presently 59.97%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other WD-40 news, CFO Sara Kathleen Hyzer purchased 256 shares of the company's stock in a transaction that occurred on Friday, April 11th. The stock was purchased at an average price of $222.83 per share, with a total value of $57,044.48. Following the completion of the transaction, the chief financial officer now directly owns 4,072 shares of the company's stock, valued at approximately $907,363.76. This trade represents a 6.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.75% of the company's stock.

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.