Public Sector Pension Investment Board Grows Position in WD-40 Company $WDFC

Key Points

• The Public Sector Pension Investment Board increased its stake in WD-40 Company by 27.2%, acquiring an additional 9,189 shares, bringing its total holdings to 42,981 shares valued at approximately $10.5 million.
• WD-40 reported its recent quarterly earnings with an EPS of $1.54, surpassing analysts' expectations, despite a slight revenue shortfall compared to forecasts.
• The company declared a quarterly dividend of $0.94 per share, reflecting an annualized dividend yield of 1.7% and a payout ratio of 59.21%.

Public Sector Pension Investment Board grew its position in shares of WD-40 Company (NASDAQ:WDFC - Free Report) by 27.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,981 shares of the specialty chemicals company's stock after purchasing an additional 9,189 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.32% of WD-40 worth $10,487,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Geneva Capital Management LLC increased its holdings in shares of WD-40 by 18.7% during the 1st quarter. Geneva Capital Management LLC now owns 248,197 shares of the specialty chemicals company's stock valued at $60,560,000 after purchasing an additional 39,137 shares in the last quarter. Invesco Ltd. lifted its holdings in WD-40 by 122.0% during the first quarter. Invesco Ltd. now owns 162,181 shares of the specialty chemicals company's stock valued at $39,572,000 after purchasing an additional 89,120 shares in the last quarter. Millennium Management LLC lifted its holdings in WD-40 by 206.9% during the fourth quarter. Millennium Management LLC now owns 158,156 shares of the specialty chemicals company's stock valued at $38,381,000 after purchasing an additional 106,617 shares in the last quarter. GAMMA Investing LLC lifted its holdings in WD-40 by 28,448.0% during the first quarter. GAMMA Investing LLC now owns 114,192 shares of the specialty chemicals company's stock valued at $27,863,000 after purchasing an additional 113,792 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in WD-40 by 55.4% during the fourth quarter. Marshall Wace LLP now owns 104,431 shares of the specialty chemicals company's stock valued at $25,343,000 after purchasing an additional 37,247 shares in the last quarter. 91.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson decreased their price objective 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.

WD-40 Price Performance

WDFC traded down $1.15 during midday trading on Monday, hitting $218.83. 40,429 shares of the company traded hands, compared to its average volume of 147,874. The company has a current ratio of 2.84, a quick ratio of 2.02 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 34.62 and a beta of 0.15. WD-40 Company has a 52-week low of $208.00 and a 52-week high of $292.36. The business has a 50 day simple moving average of $227.39 and a two-hundred day simple moving average of $232.59.

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, beating 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 company's 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, equities analysts forecast that WD-40 Company will post 5.42 earnings per share for the current fiscal year.

WD-40 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 18th were issued 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 dividend yield of 1.7%. WD-40's dividend 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.