Texas Permanent School Fund lowered its stake in WD-40 (NASDAQ:WDFC) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,226 shares of the specialty chemicals company’s stock after selling 746 shares during the quarter. Texas Permanent School Fund owned about 0.07% of WD-40 worth $3,131,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its stake in WD-40 by 2.9% in the fourth quarter. BlackRock Inc. now owns 2,072,783 shares of the specialty chemicals company’s stock valued at $550,696,000 after buying an additional 58,133 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of WD-40 by 1.1% in the first quarter. Conestoga Capital Advisors LLC now owns 239,195 shares of the specialty chemicals company’s stock worth $73,237,000 after purchasing an additional 2,690 shares in the last quarter. Norges Bank bought a new stake in shares of WD-40 in the fourth quarter worth $41,533,000. Federated Hermes Inc. lifted its position in shares of WD-40 by 1.3% in the fourth quarter. Federated Hermes Inc. now owns 85,721 shares of the specialty chemicals company’s stock worth $22,775,000 after purchasing an additional 1,125 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of WD-40 by 1.8% in the fourth quarter. Nuveen Asset Management LLC now owns 52,093 shares of the specialty chemicals company’s stock worth $13,840,000 after purchasing an additional 907 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on WDFC shares. DA Davidson cut their price objective on shares of WD-40 from $353.00 to $295.00 and set a “neutral” rating on the stock in a research report on Thursday, April 15th. Zacks Investment Research downgraded shares of WD-40 from a “hold” rating to a “sell” rating in a report on Wednesday, April 14th.
WD-40 (NASDAQ:WDFC) last issued its earnings results on Wednesday, April 7th. The specialty chemicals company reported $1.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.08). The firm had revenue of $111.91 million for the quarter, compared to analyst estimates of $114.30 million. WD-40 had a return on equity of 33.97% and a net margin of 12.30%. WD-40’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 earnings per share. As a group, research analysts forecast that WD-40 will post 4.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 30th. Shareholders of record on Friday, April 16th were issued a $0.72 dividend. This is an increase from WD-40’s previous quarterly dividend of $0.67. This represents a $2.88 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Thursday, April 15th. WD-40’s payout ratio is currently 65.45%.
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; and specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand, as well as various products under the WD-40 Bike brand name.
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