Envestnet Asset Management Inc. Sells 3,923 Shares of WD-40 Company (NASDAQ:WDFC)

Envestnet Asset Management Inc. reduced its position in WD-40 Company (NASDAQ:WDFC - Free Report) by 6.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,556 shares of the specialty chemicals company's stock after selling 3,923 shares during the quarter. Envestnet Asset Management Inc. owned about 0.42% of WD-40 worth $14,044,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of WDFC. D.A. Davidson & CO. increased its holdings in WD-40 by 5.9% in the first quarter. D.A. Davidson & CO. now owns 895 shares of the specialty chemicals company's stock valued at $218,000 after buying an additional 50 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in WD-40 by 343.7% in the 1st quarter. Teacher Retirement System of Texas now owns 21,797 shares of the specialty chemicals company's stock valued at $5,318,000 after purchasing an additional 16,884 shares during the last quarter. GCQ FUNDS MANAGEMENT PTY Ltd lifted its holdings in shares of WD-40 by 245.0% in the 1st quarter. GCQ FUNDS MANAGEMENT PTY Ltd now owns 64,423 shares of the specialty chemicals company's stock worth $15,719,000 after acquiring an additional 45,747 shares during the last quarter. KBC Group NV lifted 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 worth $146,000 after acquiring an additional 49 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in WD-40 by 37.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,299 shares of the specialty chemicals company's stock worth $563,000 after buying an additional 627 shares in the last quarter. 91.52% of the stock is owned by hedge funds and other institutional investors.

WD-40 Price Performance

WD-40 stock traded down $3.02 during trading hours on Friday, hitting $217.85. 125,071 shares of the company traded hands, compared to its average volume of 121,860. WD-40 Company has a 1-year low of $208.00 and a 1-year high of $292.36. 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 firm's 50-day simple moving average is $237.74 and its two-hundred day simple moving average is $234.98. The firm has a market cap of $2.95 billion, a P/E ratio of 34.31 and a beta of 0.14.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.14. WD-40 had a net margin of 14.13% and a return on equity of 31.23%. The business had revenue of $156.92 million for the quarter, compared to analyst estimates of $160.60 million. During the same quarter in the previous year, the firm posted $1.46 earnings per share. WD-40's revenue was up 1.2% compared to the same quarter last year. As a group, analysts forecast that WD-40 Company will post 5.42 earnings per share for the current fiscal year.

WD-40 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 18th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, July 18th. This represents a $3.76 annualized dividend and a dividend yield of 1.73%. WD-40's dividend payout ratio is currently 59.21%.

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 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.