WD-40 Company $WDFC Shares Purchased by ProShare Advisors LLC

Key Points

• ProShare Advisors increased its WD-40 stake by 36.8% in the third quarter, adding 11,674 shares to hold 43,370 shares valued at about $8.76 million. Institutional investors collectively own 91.52% of the company.
• WD-40’s latest quarterly revenue rose 8.1% year over year to $176.78 million, beating estimates, while EPS of $1.06 fell short of the $1.13 consensus and declined from $1.56 a year earlier.
• Analysts have a “Moderate Buy” consensus and an average price target of $305. The company’s quarterly dividend was $1.02 per share, equivalent to a 1.8% annualized yield.

ProShare Advisors LLC grew its position in shares of WD-40 Company (NASDAQ:WDFC - Free Report) by 36.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 43,370 shares of the specialty chemicals company's stock after purchasing an additional 11,674 shares during the quarter. ProShare Advisors LLC owned 0.32% of WD-40 worth $8,759,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Laurel Wealth Advisors LLC bought a new position in WD-40 during the third quarter valued at about $136,000. Sterling Capital Management LLC grew its holdings in WD-40 by 841.7% during the third quarter. Sterling Capital Management LLC now owns 452 shares of the specialty chemicals company's stock worth $91,000 after acquiring an additional 404 shares during the period. Inspire Investing LLC raised its position in WD-40 by 13.1% in the third quarter. Inspire Investing LLC now owns 3,146 shares of the specialty chemicals company's stock worth $635,000 after acquiring an additional 364 shares in the last quarter. Vest Financial LLC raised its position in WD-40 by 6.9% in the third quarter. Vest Financial LLC now owns 26,733 shares of the specialty chemicals company's stock worth $5,399,000 after acquiring an additional 1,714 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in WD-40 in the third quarter worth about $221,000. Institutional investors own 91.52% of the company's stock.

Insider Activity at WD-40

In related news, insider Patricia Olsem sold 200 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $234.72, for a total value of $46,944.00. Following the completion of the sale, the insider owned 4,574 shares in the company, valued at approximately $1,073,609.28. This represents a 4.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.78% of the company's stock.

WD-40 Trading Up 5.2%

Shares of WDFC opened at $233.00 on Thursday. The business's 50-day moving average price is $205.42 and its 200 day moving average price is $219.71. The company has a current ratio of 2.57, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $3.12 billion, a P/E ratio of 38.32 and a beta of 0.27. WD-40 Company has a 1-year low of $175.38 and a 1-year high of $298.90.

WD-40 (NASDAQ:WDFC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The specialty chemicals company reported $1.06 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.07). WD-40 had a net margin of 11.97% and a return on equity of 30.84%. The firm had revenue of $176.78 million for the quarter, compared to analysts' expectations of $172.07 million. During the same period in the prior year, the company posted $1.56 earnings per share. WD-40's quarterly revenue was up 8.1% compared to the same quarter last year. Analysts expect that WD-40 Company will post 6.55 earnings per share for the current year.

WD-40 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Monday, October 19th were issued a dividend of $1.02 per share. The ex-dividend date was Monday, October 19th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.8%. WD-40's payout ratio is currently 67.11%.

Analysts Set New Price Targets

WDFC has been the subject of several research reports. Jefferies Financial Group restated a "hold" rating on shares of WD-40 in a research report on Friday, July 10th. Weiss Ratings cut shares of WD-40 from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, September 18th. DA Davidson boosted their target price on shares of WD-40 from $270.00 to $305.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Finally, Zacks Research lowered shares of WD-40 from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $305.00.

WD-40 Company Profile

WD-40 Company develops and markets maintenance, cleaning and homecare products for consumers, professional tradespeople and industrial users. Its best-known product is WD-40 Multi-Use Product, a spray designed to displace moisture, protect metal, loosen rusted parts and lubricate equipment. The company also offers WD-40 Specialist products for specific maintenance applications and the 3-IN-ONE line of lubricants.

The company's homecare and cleaning portfolio has included brands such as X-14, 2000 Flushes and Carpet Fresh.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.