WD-40 Company (NASDAQ:WDFC) Position Cut by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. reduced its stake in WD-40 Company by 63.5% during the first quarter, selling 9,102 shares and leaving it with 5,243 shares valued at approximately $1.3 million.
• WD-40 reported a quarterly EPS of $1.54, surpassing expectations of $1.40, with revenues totaling $156.92 million for the quarter.
• The company announced a quarterly dividend of $0.94 per share, which implies an annualized dividend of $3.76 and a yield of 1.77%.

Victory Capital Management Inc. lessened its stake in shares of WD-40 Company (NASDAQ:WDFC - Free Report) by 63.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,243 shares of the specialty chemicals company's stock after selling 9,102 shares during the quarter. Victory Capital Management Inc.'s holdings in WD-40 were worth $1,279,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of WDFC. Stratos Wealth Partners LTD. raised its holdings in WD-40 by 4.8% in the first quarter. Stratos Wealth Partners LTD. now owns 1,048 shares of the specialty chemicals company's stock valued at $256,000 after acquiring an additional 48 shares in the last quarter. KBC Group NV increased its holdings in shares of WD-40 by 8.9% in the 1st quarter. KBC Group NV now owns 597 shares of the specialty chemicals company's stock valued at $146,000 after acquiring an additional 49 shares during the period. D.A. Davidson & CO. increased its holdings in shares of WD-40 by 5.9% in the 1st quarter. D.A. Davidson & CO. now owns 895 shares of the specialty chemicals company's stock valued at $218,000 after acquiring an additional 50 shares during the period. Xponance Inc. increased its holdings in shares of WD-40 by 5.4% in the 1st quarter. Xponance Inc. now owns 1,037 shares of the specialty chemicals company's stock valued at $253,000 after acquiring an additional 53 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of WD-40 by 0.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,111 shares of the specialty chemicals company's stock valued at $2,454,000 after acquiring an additional 68 shares during the period. Hedge funds and other institutional investors own 91.52% of the company's stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson cut their target price 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

Shares of NASDAQ:WDFC traded down $1.44 during midday trading on Monday, hitting $213.77. 54,216 shares of the stock were exchanged, compared to its average volume of 151,507. The company has a 50 day moving average price of $232.01 and a 200-day moving average price of $233.52. WD-40 Company has a twelve month low of $208.00 and a twelve month high of $292.36. The stock has a market cap of $2.89 billion, a P/E ratio of 33.66 and a beta of 0.15. The company has a current ratio of 2.84, a quick ratio of 2.02 and a debt-to-equity ratio of 0.33.

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 the consensus estimate of $1.40 by $0.14. WD-40 had a net margin of 14.13% and a return on equity of 31.23%. The firm had revenue of $156.92 million during the quarter, compared to the consensus estimate of $160.60 million. During the same quarter in the previous year, the company posted $1.46 EPS. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. 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 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 was Friday, July 18th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.8%. WD-40's payout ratio is presently 59.21%.

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.