Goldman Sachs Group Inc. Reduces Position in WD-40 Company (WDFC)

Goldman Sachs Group Inc. reduced its stake in shares of WD-40 Company (NASDAQ:WDFC) by 25.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,177 shares of the specialty chemicals company’s stock after selling 8,758 shares during the period. Goldman Sachs Group Inc. owned 0.19% of WD-40 worth $2,852,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of WDFC. BB&T Corp boosted its position in shares of WD-40 by 11.5% in the first quarter. BB&T Corp now owns 7,797 shares of the specialty chemicals company’s stock valued at $850,000 after buying an additional 806 shares in the last quarter. Whittier Trust Co. raised its stake in shares of WD-40 by 4.7% in the first quarter. Whittier Trust Co. now owns 22,747 shares of the specialty chemicals company’s stock worth $2,478,000 after buying an additional 1,021 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of WD-40 by 34.3% in the first quarter. Russell Investments Group Ltd. now owns 22,937 shares of the specialty chemicals company’s stock worth $2,499,000 after buying an additional 5,861 shares during the last quarter. Glen Harbor Capital Management LLC raised its stake in shares of WD-40 by 2.4% in the first quarter. Glen Harbor Capital Management LLC now owns 946 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 22 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of WD-40 by 34.9% in the first quarter. Acadian Asset Management LLC now owns 110,292 shares of the specialty chemicals company’s stock worth $12,017,000 after buying an additional 28,542 shares during the last quarter. 79.42% of the stock is owned by institutional investors.

WD-40 Company (NASDAQ:WDFC) opened at 105.25 on Friday. The firm has a market cap of $1.48 billion, a PE ratio of 28.44 and a beta of 0.73. The firm’s 50-day moving average is $106.95 and its 200-day moving average is $107.44. WD-40 Company has a 12 month low of $100.60 and a 12 month high of $121.10.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings results on Monday, July 10th. The specialty chemicals company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. WD-40 had a return on equity of 39.64% and a net margin of 13.85%. The business had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $99.09 million. During the same quarter in the prior year, the business earned $0.88 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities analysts expect that WD-40 Company will post $3.68 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, July 21st were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Wednesday, July 19th. WD-40’s dividend payout ratio (DPR) is presently 52.97%.

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Several brokerages recently commented on WDFC. Zacks Investment Research upgraded shares of WD-40 from a “hold” rating to a “buy” rating and set a $119.00 price target on the stock in a research note on Friday. BidaskClub downgraded shares of WD-40 from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, FBR & Co reissued a “marketperform” rating on shares of WD-40 in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $111.25.

In related news, VP Jay Rembolt sold 618 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $110.00, for a total value of $67,980.00. Following the sale, the vice president now owns 36,837 shares in the company, valued at approximately $4,052,070. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 1,854 shares of company stock worth $203,928. 3.90% of the stock is owned by company insiders.

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.

Institutional Ownership by Quarter for WD-40 (NASDAQ:WDFC)

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