Renaissance Technologies LLC Sells 48,792 Shares of WD-40 Company $WDFC

Key Points

• Renaissance Technologies cut its WD-40 stake by 19.3%, selling 48,792 shares and retaining 203,476 shares valued at approximately $41.5 million. Institutional investors collectively own 91.52% of the company.
• WD-40 reported strong quarterly results, with EPS of $2.33 versus $1.58 expected and revenue of $195.12 million, up 24.3% year over year. Analysts maintain a consensus “Buy” rating with a $305 target price.
• The company declared a quarterly dividend of $1.02 per share, equivalent to a $4.08 annualized payout and a 1.7% yield; shares recently traded at $233.55.

Renaissance Technologies LLC reduced its stake in shares of WD-40 Company (NASDAQ:WDFC - Free Report) by 19.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,476 shares of the specialty chemicals company's stock after selling 48,792 shares during the quarter. Renaissance Technologies LLC owned about 1.51% of WD-40 worth $41,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of WDFC. Sei Investments Co. boosted its position in shares of WD-40 by 19.5% during the first quarter. Sei Investments Co. now owns 4,869 shares of the specialty chemicals company's stock worth $993,000 after acquiring an additional 795 shares during the last quarter. State of Wyoming purchased a new position in WD-40 during the first quarter valued at $125,000. First Trust Advisors LP increased its holdings in WD-40 by 41.9% in the 1st quarter. First Trust Advisors LP now owns 411,312 shares of the specialty chemicals company's stock valued at $83,883,000 after acquiring an additional 121,358 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in WD-40 by 2.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,659 shares of the specialty chemicals company's stock valued at $542,000 after acquiring an additional 66 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in WD-40 by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 294,277 shares of the specialty chemicals company's stock worth $60,015,000 after purchasing an additional 7,886 shares in the last quarter. Institutional investors own 91.52% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. William Blair assumed coverage on shares of WD-40 in a report on Monday, April 6th. They set an "outperform" rating for the company. DA Davidson boosted their target price on WD-40 from $270.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Jefferies Financial Group reissued a "hold" rating on shares of WD-40 in a research note on Friday, July 10th. Weiss Ratings cut WD-40 from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, May 26th. Finally, Northcoast Research raised WD-40 to a "strong-buy" rating in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $305.00.

WD-40 Trading Up 1.0%

Shares of WDFC stock opened at $233.55 on Tuesday. WD-40 Company has a 1 year low of $175.38 and a 1 year high of $298.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.65 and a quick ratio of 1.95. The stock's 50 day simple moving average is $227.85 and its two-hundred day simple moving average is $222.72. The company has a market cap of $3.13 billion, a PE ratio of 35.49 and a beta of 0.26.

WD-40 (NASDAQ:WDFC - Get Free Report) last announced its earnings results on Thursday, July 9th. The specialty chemicals company reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.75. The firm had revenue of $195.12 million during the quarter, compared to analysts' expectations of $172.79 million. WD-40 had a return on equity of 33.53% and a net margin of 13.23%.The company's quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.54 EPS. WD-40 has set its FY 2026 guidance at 6.050-6.350 EPS. Research analysts predict that WD-40 Company will post 6.24 earnings per share for the current year.

WD-40 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, July 17th. WD-40's payout ratio is presently 62.01%.

WD-40 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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