Voya Investment Management LLC Boosts Stock Position in WD-40 Company $WDFC

Key Points

• Voya Investment Management LLC increased its holdings in WD-40 Company by 46.8%, owning approximately $1.77 million worth of the stock.
• DA Davidson lowered its price target for WD-40 from $322.00 to $300.00 but maintains a "buy" rating for the company.
• WD-40 reported quarterly earnings of $1.54 EPS, surpassing analysts' estimates, with revenue of $156.92 million, reflecting a 1.2% increase year-over-year.

Voya Investment Management LLC raised its holdings in WD-40 Company (NASDAQ:WDFC - Free Report) by 46.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,266 shares of the specialty chemicals company's stock after purchasing an additional 2,315 shares during the period. Voya Investment Management LLC owned approximately 0.05% of WD-40 worth $1,773,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of WDFC. Bank of America Corp DE increased its position in WD-40 by 0.7% during the 4th quarter. Bank of America Corp DE now owns 39,268 shares of the specialty chemicals company's stock worth $9,530,000 after purchasing an additional 254 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of WD-40 by 2.9% in the 4th quarter. Nuveen Asset Management LLC now owns 48,309 shares of the specialty chemicals company's stock valued at $11,724,000 after purchasing an additional 1,375 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of WD-40 by 46.6% in the 4th quarter. Two Sigma Investments LP now owns 29,597 shares of the specialty chemicals company's stock valued at $7,183,000 after purchasing an additional 9,402 shares during the last quarter. Two Sigma Advisers LP boosted its stake in WD-40 by 133.3% during the fourth quarter. Two Sigma Advisers LP now owns 4,900 shares of the specialty chemicals company's stock worth $1,189,000 after acquiring an additional 2,800 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in WD-40 by 9.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,636 shares of the specialty chemicals company's stock worth $9,619,000 after acquiring an additional 3,425 shares in the last quarter. Institutional investors own 91.52% of the company's stock.

WD-40 Trading Down 1.2%

Shares of NASDAQ WDFC traded down $2.55 during mid-day trading on Monday, hitting $207.81. The stock had a trading volume of 120,135 shares, compared to its average volume of 128,412. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.02 and a current ratio of 2.84. The business has a 50 day moving average price of $216.41 and a two-hundred day moving average price of $228.89. The firm has a market cap of $2.81 billion, a P/E ratio of 32.73 and a beta of 0.13. WD-40 Company has a 1 year low of $206.22 and a 1 year 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 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $0.14. The firm had revenue of $156.92 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.46 EPS. On average, equities analysts anticipate that WD-40 Company will post 5.42 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.