Victory Capital Management Inc. Sells 9,102 Shares of WD-40 Company (NASDAQ:WDFC)

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. decreased its position in WD-40 Company (NASDAQ:WDFC - Free Report) by 63.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. purchased a new position in WD-40 in the fourth quarter worth about $25,000. TD Waterhouse Canada Inc. purchased a new position in WD-40 in the fourth quarter worth about $27,000. Versant Capital Management Inc boosted its position in WD-40 by 96.1% in the first quarter. Versant Capital Management Inc now owns 149 shares of the specialty chemicals company's stock worth $36,000 after purchasing an additional 73 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of WD-40 by 210.6% during the 1st quarter. Golden State Wealth Management LLC now owns 146 shares of the specialty chemicals company's stock valued at $36,000 after acquiring an additional 99 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of WD-40 by 82.6% during the 1st quarter. Parallel Advisors LLC now owns 157 shares of the specialty chemicals company's stock valued at $38,000 after acquiring an additional 71 shares during the period. 91.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

WD-40 Price Performance

Shares of NASDAQ WDFC traded up $0.80 during midday trading on Friday, reaching $215.20. The stock had a trading volume of 190,116 shares, compared to its average volume of 192,588. The stock has a 50-day moving average of $232.53 and a 200-day moving average of $233.56. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 33.89 and a beta of 0.15. WD-40 Company has a 12-month low of $208.00 and a 12-month high of $292.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.02 and a current ratio of 2.84.

WD-40 (NASDAQ:WDFC - Get Free Report) last issued its earnings results on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.14. The company had revenue of $156.92 million for the quarter, compared to the consensus estimate of $160.60 million. WD-40 had a return on equity of 31.23% and a net margin of 14.13%. The firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company earned $1.46 EPS. As a group, research analysts anticipate that WD-40 Company will post 5.42 EPS for the current fiscal year.

WD-40 Dividend Announcement

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