Vanguard Group Inc. Cuts Stock Position in WD-40 (NASDAQ:WDFC)

Vanguard Group Inc. lowered its position in WD-40 (NASDAQ:WDFC) by 0.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,469,326 shares of the specialty chemicals company’s stock after selling 1,140 shares during the period. Vanguard Group Inc. owned approximately 0.11% of WD-40 worth $233,681,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of WDFC. Steward Partners Investment Advisory LLC purchased a new position in shares of WD-40 in the 2nd quarter worth approximately $43,000. Gradient Investments LLC purchased a new position in shares of WD-40 in the 2nd quarter worth approximately $80,000. Advisory Services Network LLC grew its position in shares of WD-40 by 12.6% in the 1st quarter. Advisory Services Network LLC now owns 618 shares of the specialty chemicals company’s stock worth $105,000 after buying an additional 69 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in WD-40 during the 2nd quarter worth approximately $137,000. Finally, HighTower Advisors LLC grew its position in WD-40 by 13.1% during the 2nd quarter. HighTower Advisors LLC now owns 1,336 shares of the specialty chemicals company’s stock worth $209,000 after purchasing an additional 155 shares during the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:WDFC traded up $1.99 during trading hours on Thursday, hitting $183.85. 17,640 shares of the company were exchanged, compared to its average volume of 104,266. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 44.52, a PEG ratio of 3.69 and a beta of 0.25. WD-40 has a 52-week low of $149.38 and a 52-week high of $188.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.90 and a quick ratio of 1.39. The company’s 50 day moving average price is $183.46 and its 200-day moving average price is $172.01.

WD-40 (NASDAQ:WDFC) last released its earnings results on Tuesday, July 9th. The specialty chemicals company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.08. The company had revenue of $114.00 million for the quarter, compared to the consensus estimate of $109.40 million. WD-40 had a net margin of 16.45% and a return on equity of 40.12%. WD-40’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.15 EPS. On average, equities analysts predict that WD-40 will post 4.01 earnings per share for the current year.

In other WD-40 news, Director Geoffrey Holdsworth sold 1,408 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $182.28, for a total transaction of $256,650.24. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.09% of the stock is currently owned by insiders.

Several analysts have weighed in on the stock. DA Davidson set a $209.00 target price on shares of WD-40 and gave the stock a “buy” rating in a research report on Monday, July 15th. ValuEngine downgraded shares of WD-40 from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub raised shares of WD-40 from a “sell” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Zacks Investment Research reissued a “buy” rating and set a $206.00 target price on shares of WD-40 in a research report on Saturday, September 28th.

WD-40 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 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 and industrial applications; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bicycle maintenance products comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics under the WD-40 Bike brand name.

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

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