Royal Bank of Canada raised its stake in WD-40 Company (NASDAQ:WDFC) by 18.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,114 shares of the specialty chemicals company’s stock after acquiring an additional 1,579 shares during the period. Royal Bank of Canada owned about 0.07% of WD-40 worth $1,116,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in WDFC. BlackRock Inc. grew its position in WD-40 by 129,764.4% in the first quarter. BlackRock Inc. now owns 1,698,626 shares of the specialty chemicals company’s stock valued at $185,067,000 after acquiring an additional 1,697,318 shares during the period. Neuberger Berman Group LLC grew its position in WD-40 by 27.6% in the second quarter. Neuberger Berman Group LLC now owns 591,124 shares of the specialty chemicals company’s stock valued at $65,231,000 after acquiring an additional 127,744 shares during the period. Wells Fargo & Company MN grew its position in WD-40 by 48.2% in the second quarter. Wells Fargo & Company MN now owns 194,866 shares of the specialty chemicals company’s stock valued at $21,504,000 after acquiring an additional 63,370 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in WD-40 by 12.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 526,508 shares of the specialty chemicals company’s stock valued at $58,101,000 after acquiring an additional 58,623 shares during the period. Finally, Vanguard Group Inc. grew its position in WD-40 by 4.5% in the first quarter. Vanguard Group Inc. now owns 1,225,857 shares of the specialty chemicals company’s stock valued at $133,557,000 after acquiring an additional 52,896 shares during the period. Hedge funds and other institutional investors own 81.77% of the company’s stock.
In other WD-40 news, VP Jay Rembolt sold 676 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $112.60, for a total transaction of $76,117.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.90% of the company’s stock.
Several analysts have recently commented on WDFC shares. Zacks Investment Research cut WD-40 from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. BidaskClub cut WD-40 from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, FBR & Co restated a “neutral” rating and set a $122.00 target price (up previously from $115.00) on shares of WD-40 in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. WD-40 has a consensus rating of “Hold” and an average price target of $117.25.
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WD-40 Company (WDFC) opened at $112.30 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.98 and a quick ratio of 2.51. The firm has a market cap of $1,562.61, a PE ratio of 30.08, a PEG ratio of 2.91 and a beta of 0.66.
WD-40 (NASDAQ:WDFC) last announced its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.04. WD-40 had a net margin of 13.91% and a return on equity of 39.82%. The firm had revenue of $96.60 million for the quarter, compared to the consensus estimate of $106.01 million. During the same period in the prior year, the firm earned $0.99 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. equities analysts expect that WD-40 Company will post 3.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 20th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 1.75%. The ex-dividend date was Thursday, October 19th. WD-40’s dividend payout ratio (DPR) is presently 52.69%.
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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