Quantbot Technologies LP Cuts Stake in WD-40 Company $WDFC

Key Points

• Quantbot Technologies LP has reduced its stake in WD-40 Company by 31.8%, holding 3,808 shares valued at approximately $929,000 after selling 1,776 shares in the first quarter.
• WD-40 recently reported earnings per share of $1.54, exceeding estimates, although revenue fell short of expectations at $156.92 million.
• Analysts from DA Davidson have decreased their target price on WD-40 from $322 to $300, while maintaining a "buy" rating for the stock.

Quantbot Technologies LP reduced its position in shares of WD-40 Company (NASDAQ:WDFC - Free Report) by 31.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,808 shares of the specialty chemicals company's stock after selling 1,776 shares during the period. Quantbot Technologies LP's holdings in WD-40 were worth $929,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriflex Group Inc. bought a new stake in shares of WD-40 during the fourth quarter worth about $25,000. TD Waterhouse Canada Inc. bought a new stake in WD-40 in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC boosted its holdings in WD-40 by 210.6% in the first 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 last quarter. Versant Capital Management Inc lifted its stake 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 valued at $36,000 after buying an additional 73 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in WD-40 by 420.0% in the first quarter. Farther Finance Advisors LLC now owns 156 shares of the specialty chemicals company's stock valued at $38,000 after buying an additional 126 shares during the period. 91.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, DA Davidson dropped their price target on 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 equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, WD-40 currently has a consensus rating of "Moderate Buy" and a consensus price target of $290.00.

WD-40 Stock Down 1.5%

Shares of NASDAQ:WDFC traded down $3.24 during trading on Thursday, reaching $218.22. 25,710 shares of the stock were exchanged, compared to its average volume of 144,629. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.84 and a quick ratio of 2.02. WD-40 Company has a 1-year low of $208.00 and a 1-year high of $292.36. The stock has a fifty day moving average of $223.64 and a two-hundred day moving average of $231.69. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 34.42 and a beta of 0.15.

WD-40 (NASDAQ:WDFC - Get Free Report) last released its quarterly 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 business had revenue of $156.92 million during the quarter, compared to analyst estimates of $160.60 million. WD-40 had a return on equity of 31.23% and a net margin of 14.13%.WD-40's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. Research analysts anticipate that WD-40 Company will post 5.42 earnings per share for the current fiscal year.

WD-40 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 18th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, July 18th. WD-40's dividend payout ratio is presently 59.21%.

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.