Municipal Employees Retirement System of Michigan increased its holdings in shares of WD-40 (NASDAQ:WDFC) by 58.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,280 shares of the specialty chemicals company’s stock after purchasing an additional 1,950 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in WD-40 were worth $591,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Pinebridge Investments L.P. increased its holdings in shares of WD-40 by 0.6% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,853 shares of the specialty chemicals company’s stock worth $204,000 after acquiring an additional 11 shares during the last quarter. Texas Permanent School Fund boosted its stake in WD-40 by 0.5% in the 2nd quarter. Texas Permanent School Fund now owns 10,267 shares of the specialty chemicals company’s stock valued at $1,133,000 after purchasing an additional 48 shares during the period. Amalgamated Bank boosted its stake in WD-40 by 3.5% in the 2nd quarter. Amalgamated Bank now owns 1,928 shares of the specialty chemicals company’s stock valued at $213,000 after purchasing an additional 65 shares during the period. PNC Financial Services Group Inc. boosted its stake in WD-40 by 4.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,232 shares of the specialty chemicals company’s stock valued at $246,000 after purchasing an additional 95 shares during the period. Finally, Symphony Asset Management LLC boosted its stake in WD-40 by 3.9% in the 2nd quarter. Symphony Asset Management LLC now owns 4,003 shares of the specialty chemicals company’s stock valued at $442,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 84.20% of the company’s stock.
WD-40 (WDFC) opened at $119.50 on Tuesday. The stock has a market capitalization of $1,679.91, a P/E ratio of 32.34, a price-to-earnings-growth ratio of 3.13 and a beta of 0.67. The company has a quick ratio of 2.51, a current ratio of 2.98 and a debt-to-equity ratio of 0.96. WD-40 has a fifty-two week low of $100.60 and a fifty-two week high of $122.65.
WD-40 (NASDAQ:WDFC) last posted its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.04. WD-40 had a return on equity of 39.82% and a net margin of 13.91%. The company had revenue of $96.60 million for the quarter, compared to analyst estimates of $106.01 million. During the same quarter last year, the company earned $0.99 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. equities analysts expect that WD-40 will post 3.85 EPS for the current year.
In related news, VP Jay Rembolt sold 676 shares of the stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $112.60, for a total transaction of $76,117.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.62% of the company’s stock.
A number of equities analysts have recently commented on the company. Zacks Investment Research cut WD-40 from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. BidaskClub raised WD-40 from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. FBR & Co reissued a “neutral” rating and issued a $122.00 price target (up previously from $115.00) on shares of WD-40 in a research note on Friday, October 20th. Finally, B. Riley reissued a “neutral” rating on shares of WD-40 in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. WD-40 currently has an average rating of “Hold” and a consensus target price of $117.25.
WD-40 Company Profile
WD-40 Company is a global company engaged in developing and selling products, which solve problems in workshops, factories and homes. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia-Pacific. The Company’s Americas segment includes the United States, Canada and Latin America.
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