WD-40 Company (NASDAQ:WDFC) Position Reduced by TD Asset Management Inc

Key Points

• TD Asset Management Inc significantly reduced its holdings in WD-40 Company by 47.6%, now owning 4,300 shares worth $1,049,000 after selling 3,900 shares.
• WD-40 Company reported a quarterly earnings per share of $1.54, exceeding analysts' expectations of $1.40, although its revenue of $156.92 million fell short of the forecast.
• The firm announced a quarterly dividend of $0.94, translating to an annualized payout of $3.76 and a dividend yield of 1.7% with a payout ratio of 59.21%.

TD Asset Management Inc lessened its stake in WD-40 Company (NASDAQ:WDFC - Free Report) by 47.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,300 shares of the specialty chemicals company's stock after selling 3,900 shares during the quarter. TD Asset Management Inc's holdings in WD-40 were worth $1,049,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ameriflex Group Inc. acquired a new position in shares of WD-40 in the 4th quarter valued at about $25,000. TD Waterhouse Canada Inc. acquired a new position in WD-40 during the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC lifted its position in WD-40 by 210.6% during the first quarter. Golden State Wealth Management LLC now owns 146 shares of the specialty chemicals company's stock valued at $36,000 after buying an additional 99 shares in the last quarter. Versant Capital Management Inc grew its stake in WD-40 by 96.1% during the first quarter. Versant Capital Management Inc now owns 149 shares of the specialty chemicals company's stock worth $36,000 after buying an additional 73 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of WD-40 by 420.0% in the first 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 in the last quarter. 91.52% of the stock is currently owned by institutional investors and hedge funds.

WD-40 Stock Up 1.1%

WD-40 stock traded up $2.30 during midday trading on Wednesday, hitting $219.37. 101,693 shares of the company were exchanged, compared to its average volume of 198,456. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.84 and a quick ratio of 2.02. WD-40 Company has a fifty-two week low of $208.00 and a fifty-two week high of $292.36. The company's fifty day moving average price is $230.55 and its 200-day moving average price is $233.19. The company has a market cap of $2.97 billion, a PE ratio of 34.55 and a beta of 0.15.

WD-40 (NASDAQ:WDFC - Get Free Report) last announced its earnings results on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.14. The business had revenue of $156.92 million for the quarter, compared to analyst estimates of $160.60 million. WD-40 had a return on equity of 31.23% and a net margin of 14.13%. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.46 earnings per share. On average, research analysts predict that WD-40 Company will post 5.42 EPS for the current fiscal year.

WD-40 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 18th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, July 18th. WD-40's dividend payout ratio is 59.21%.

Analyst Ratings Changes

Separately, DA Davidson decreased their price target 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.

About WD-40

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.