WD-40 Company $WDFC Shares Purchased by Comerica Bank

Key Points

• Comerica Bank increased its holdings in WD-40 Company by 7.4% to own approximately $7.49 million worth of shares, totaling 30,682 shares.
• WD-40 reported earnings of $1.54 per share, exceeding estimates, and has a revenue of $156.92 million for the last quarter, marking a 1.2% year-over-year increase.
• The company recently announced a quarterly dividend of $0.94 per share, resulting in an annual yield of 1.7%.

Comerica Bank increased its holdings in shares of WD-40 Company (NASDAQ:WDFC - Free Report) by 7.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,682 shares of the specialty chemicals company's stock after acquiring an additional 2,124 shares during the period. Comerica Bank owned approximately 0.23% of WD-40 worth $7,487,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of WDFC. GAMMA Investing LLC lifted its stake in WD-40 by 28,448.0% in the 1st quarter. GAMMA Investing LLC now owns 114,192 shares of the specialty chemicals company's stock valued at $27,863,000 after buying an additional 113,792 shares in the last quarter. Millennium Management LLC lifted its stake in WD-40 by 206.9% in the 4th quarter. Millennium Management LLC now owns 158,156 shares of the specialty chemicals company's stock valued at $38,381,000 after buying an additional 106,617 shares in the last quarter. Wellington Management Group LLP purchased a new position in WD-40 in the 1st quarter valued at about $23,556,000. Invesco Ltd. lifted its stake in WD-40 by 122.0% in the 1st quarter. Invesco Ltd. now owns 162,181 shares of the specialty chemicals company's stock valued at $39,572,000 after buying an additional 89,120 shares in the last quarter. Finally, GCQ FUNDS MANAGEMENT PTY Ltd lifted its stake in 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 valued at $15,719,000 after buying an additional 45,747 shares in the last quarter. 91.52% of the stock is currently owned by institutional investors and hedge funds.

WD-40 Price Performance

WDFC traded down $1.66 during trading on Monday, reaching $216.04. The company's stock had a trading volume of 90,408 shares, compared to its average volume of 90,111. 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 has a fifty day simple moving average of $222.75 and a two-hundred day simple moving average of $231.50. WD-40 Company has a 1 year low of $208.00 and a 1 year high of $292.36. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 34.02 and a beta of 0.13.

WD-40 (NASDAQ:WDFC - Get Free Report) last released its earnings results on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share 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 period last year, the company posted $1.46 EPS. The business's revenue was up 1.2% on a year-over-year basis. As a group, analysts anticipate that WD-40 Company will post 5.42 EPS for the current year.

WD-40 Dividend Announcement

The company also recently declared 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 1.7%. WD-40's dividend payout ratio (DPR) is currently 59.21%.

Analyst Ratings Changes

Separately, DA Davidson decreased their price target 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 investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.