Principal Financial Group Inc. Buys 10,265 Shares of WD-40 Company $WDFC

Key Points

• Principal Financial Group increased its WD-40 stake by 15.9% in the first quarter, buying 10,265 shares and bringing its total holdings to 74,995 shares worth about $15.3 million.
• Several other institutional investors also boosted their positions, and institutional ownership stands at 91.52% of WD-40’s shares.
• WD-40 reported stronger-than-expected quarterly results, with EPS of $2.33 and revenue of $195.12 million, while analysts currently rate the stock a consensus Buy with a $305 target price.

Principal Financial Group Inc. lifted its position in WD-40 Company (NASDAQ:WDFC - Free Report) by 15.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,995 shares of the specialty chemicals company's stock after buying an additional 10,265 shares during the period. Principal Financial Group Inc. owned approximately 0.56% of WD-40 worth $15,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of WD-40 by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 1,650,622 shares of the specialty chemicals company's stock worth $325,007,000 after acquiring an additional 47,528 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of WD-40 by 6.4% during the third quarter. Alliancebernstein L.P. now owns 533,738 shares of the specialty chemicals company's stock worth $105,467,000 after purchasing an additional 32,333 shares in the last quarter. Geode Capital Management LLC raised its position in shares of WD-40 by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 405,117 shares of the specialty chemicals company's stock valued at $79,778,000 after buying an additional 2,072 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in WD-40 by 24.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 333,505 shares of the specialty chemicals company's stock valued at $76,069,000 after acquiring an additional 65,423 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of WD-40 by 62.5% in the fourth quarter. First Trust Advisors LP now owns 289,954 shares of the specialty chemicals company's stock worth $57,092,000 after buying an additional 111,559 shares in the last quarter. Institutional investors own 91.52% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. DA Davidson upped their price target on shares of WD-40 from $270.00 to $305.00 and gave the company a "buy" rating in a research note on Friday, July 10th. William Blair started coverage on shares of WD-40 in a research note on Monday, April 6th. They issued an "outperform" rating on the stock. Northcoast Research upgraded WD-40 to a "strong-buy" rating in a report on Wednesday, June 24th. Jefferies Financial Group reiterated a "hold" rating on shares of WD-40 in a report on Friday, July 10th. Finally, Zacks Research upgraded shares of WD-40 from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, WD-40 has an average rating of "Buy" and a consensus target price of $305.00.

WD-40 Trading Down 1.9%

Shares of NASDAQ:WDFC opened at $232.61 on Friday. The company has a market capitalization of $3.12 billion, a PE ratio of 35.35 and a beta of 0.26. WD-40 Company has a 12-month low of $175.38 and a 12-month high of $298.90. The business has a 50 day moving average of $226.66 and a two-hundred day moving average of $222.22. The company has a current ratio of 2.65, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31.

WD-40 (NASDAQ:WDFC - Get Free Report) last posted its earnings results on Thursday, July 9th. The specialty chemicals company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.75. WD-40 had a net margin of 13.23% and a return on equity of 33.53%. The firm had revenue of $195.12 million during the quarter, compared to analysts' expectations of $172.79 million. During the same period in the previous year, the business posted $1.54 EPS. The business's revenue was up 24.3% compared to the same quarter last year. WD-40 has set its FY 2026 guidance at 6.050-6.350 EPS. As a group, analysts forecast that WD-40 Company will post 6.26 EPS for the current year.

WD-40 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 dividend on an annualized basis and a yield of 1.8%. WD-40's dividend payout ratio is presently 62.01%.

WD-40 Company Profile

WD-40 Company, headquartered in San Diego, California, is best known for its flagship WD-40® Multi-Use Product, a water-displacing spray used for lubrication, rust prevention and cleaning. Since its introduction in 1953 by the Rocket Chemical Company, the WD-40 brand has become a household and industrial staple. Over time, the company has broadened its portfolio to include complementary maintenance and cleaning brands such as 3-IN-ONE® oils, Lava® hand cleaners, Solvol® solvents, Spot Shot® stain removers and X-14® cleaning products.

WD-40 Company distributes its products in more than 176 countries through retail, industrial and automotive channels.

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