WD-40 Company $WDFC Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in WD-40 Company by 0.2%, owning 1,624,858 shares worth approximately $396.5 million after selling 2,826 shares in Q1.
• The company reported $1.54 EPS for Q2, surpassing estimates of $1.40, but its revenue of $156.92 million fell short of the $160.60 million expectation.
• WD-40 announced a quarterly dividend of $0.94 per share, yielding 1.7%, while maintaining a dividend payout ratio of 59.21%.

Vanguard Group Inc. reduced its stake in shares of WD-40 Company (NASDAQ:WDFC - Free Report) by 0.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,624,858 shares of the specialty chemicals company's stock after selling 2,826 shares during the quarter. Vanguard Group Inc. owned approximately 12.00% of WD-40 worth $396,465,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Bank of Montreal Can increased its position in WD-40 by 9.7% during the 4th quarter. Bank of Montreal Can now owns 2,124 shares of the specialty chemicals company's stock valued at $515,000 after buying an additional 187 shares in the last quarter. Invesco Ltd. increased its position in WD-40 by 9.5% during the 4th quarter. Invesco Ltd. now owns 73,061 shares of the specialty chemicals company's stock valued at $17,730,000 after buying an additional 6,330 shares in the last quarter. Raymond James Financial Inc. acquired a new position in WD-40 during the 4th quarter valued at about $17,903,000. Summit Investment Advisors Inc. increased its position in WD-40 by 5.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,425 shares of the specialty chemicals company's stock valued at $346,000 after buying an additional 70 shares in the last quarter. Finally, Mariner LLC increased its position in WD-40 by 3.2% during the 4th quarter. Mariner LLC now owns 7,850 shares of the specialty chemicals company's stock valued at $1,905,000 after buying an additional 240 shares in the last quarter. 91.52% of the stock is currently owned by hedge funds and other institutional investors.

WD-40 Stock Performance

Shares of WDFC stock traded up $0.38 during mid-day trading on Wednesday, reaching $220.84. The stock had a trading volume of 73,682 shares, compared to its average volume of 143,236. The business's fifty day moving average is $226.03 and its 200-day moving average is $232.31. 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 firm has a market cap of $2.99 billion, a price-to-earnings ratio of 34.78 and a beta of 0.15. WD-40 Company has a 1-year low of $208.00 and a 1-year high of $292.36.

WD-40 (NASDAQ:WDFC - Get Free Report) last announced its quarterly earnings data 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 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 was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 earnings per share. On average, research analysts forecast that WD-40 Company will post 5.42 earnings per share for the current year.

WD-40 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 18th were issued a $0.94 dividend. 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 currently 59.21%.

Analyst Ratings Changes

Separately, DA Davidson reduced their target price on WD-40 from $322.00 to $300.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, WD-40 has an average rating of "Moderate Buy" and an average price target of $290.00.

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.