Neuberger Berman Group LLC lifted its stake in WD-40 (NASDAQ:WDFC) by 4.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 687,245 shares of the specialty chemicals company’s stock after buying an additional 28,280 shares during the quarter. Neuberger Berman Group LLC owned approximately 4.94% of WD-40 worth $90,510,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of WD-40 in the first quarter worth $183,000. Allianz Asset Management GmbH purchased a new position in shares of WD-40 in the fourth quarter worth $200,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of WD-40 by 61.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,956 shares of the specialty chemicals company’s stock worth $258,000 after buying an additional 745 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of WD-40 in the fourth quarter worth $242,000. Finally, LPL Financial LLC purchased a new position in shares of WD-40 in the fourth quarter worth $242,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.
In other WD-40 news, Director Daniel E. Pittard purchased 530 shares of WD-40 stock in a transaction that occurred on Thursday, May 10th. The shares were bought at an average price of $132.65 per share, for a total transaction of $70,304.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven A. Brass sold 1,000 shares of the business’s stock in a transaction on Friday, April 13th. The stock was sold at an average price of $130.83, for a total transaction of $130,830.00. Following the completion of the sale, the insider now owns 5,211 shares in the company, valued at approximately $681,755.13. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Several equities analysts have recently commented on WDFC shares. BidaskClub raised shares of WD-40 from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. Zacks Investment Research downgraded shares of WD-40 from a “buy” rating to a “hold” rating in a report on Sunday, January 21st. Jefferies Group set a $120.00 target price on shares of WD-40 and gave the stock a “hold” rating in a report on Friday, April 6th. Finally, B. Riley restated a “neutral” rating and issued a $135.00 price target (up previously from $125.00) on shares of WD-40 in a research report on Friday, April 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $128.75.
Shares of WDFC opened at $137.20 on Friday. WD-40 has a fifty-two week low of $101.30 and a fifty-two week high of $137.70. The firm has a market capitalization of $1.88 billion, a P/E ratio of 36.88, a price-to-earnings-growth ratio of 3.31 and a beta of 0.54. The company has a current ratio of 3.65, a quick ratio of 3.04 and a debt-to-equity ratio of 0.99.
WD-40 (NASDAQ:WDFC) last announced its quarterly earnings results on Thursday, April 5th. The specialty chemicals company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.10. WD-40 had a net margin of 14.29% and a return on equity of 39.25%. The company had revenue of $101.30 million for the quarter, compared to analysts’ expectations of $102.49 million. During the same quarter in the previous year, the business posted $0.87 earnings per share. WD-40’s quarterly revenue was up 5.0% on a year-over-year basis. analysts anticipate that WD-40 will post 4.09 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 30th. Investors of record on Friday, April 20th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.57%. The ex-dividend date was Thursday, April 19th. WD-40’s dividend payout ratio is presently 58.06%.
WD-40 Company engages in the development and sale of maintenance products, and homecare and cleaning products. It offers multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name for various consumer uses; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand name; and bicycle maintenance products under the WD-40 Bike brand name comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products that are designed for avid and recreational cyclists, bike enthusiasts, and mechanics.
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