TD Asset Management Inc Sells 3,900 Shares of WD-40 Company (NASDAQ:WDFC)

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 reduced 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 institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC raised its holdings in WD-40 by 36.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,830 shares of the specialty chemicals company's stock worth $447,000 after acquiring an additional 491 shares during the last quarter. KBC Group NV raised its holdings in WD-40 by 8.9% in the 1st quarter. KBC Group NV now owns 597 shares of the specialty chemicals company's stock worth $146,000 after acquiring an additional 49 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in WD-40 by 15.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,789 shares of the specialty chemicals company's stock worth $1,168,000 after acquiring an additional 645 shares during the last quarter. GAMMA Investing LLC raised its holdings in WD-40 by 17.0% in the 1st quarter. GAMMA Investing LLC now owns 468 shares of the specialty chemicals company's stock worth $114,000 after acquiring an additional 68 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in WD-40 by 37.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,299 shares of the specialty chemicals company's stock worth $563,000 after acquiring an additional 627 shares during the last quarter. 91.52% of the stock is owned by institutional investors.

WD-40 Stock Performance

WDFC traded down $0.23 during mid-day trading on Friday, reaching $220.21. 31,611 shares of the company traded hands, compared to its average volume of 150,215. The stock has a market capitalization of $2.98 billion, a P/E ratio of 34.64 and a beta of 0.15. The company has a quick ratio of 2.02, a current ratio of 2.84 and a debt-to-equity ratio of 0.33. The company's fifty day moving average price is $230.14 and its 200-day moving average price is $233.12. WD-40 Company has a 52-week low of $208.00 and a 52-week high of $292.36.

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 for the quarter, beating analysts' consensus estimates of $1.40 by $0.14. The business had revenue of $156.92 million during the quarter, compared to analyst estimates of $160.60 million. WD-40 had a net margin of 14.13% and a return on equity of 31.23%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 EPS. On average, sell-side analysts expect that WD-40 Company will post 5.42 EPS for the current year.

WD-40 Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, DA Davidson decreased their price objective on shares of WD-40 from $322.00 to $300.00 and set a "buy" rating for the company in a report on Friday, July 11th.

WD-40 Company 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.