Edgestream Partners L.P. Cuts Stake in WD-40 (NASDAQ:WDFC)

Edgestream Partners L.P. reduced its stake in shares of WD-40 (NASDAQ:WDFCGet Rating) by 54.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,005 shares of the specialty chemicals company’s stock after selling 10,605 shares during the period. Edgestream Partners L.P.’s holdings in WD-40 were worth $1,813,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WDFC. Steward Partners Investment Advisory LLC lifted its holdings in shares of WD-40 by 22.3% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 335 shares of the specialty chemicals company’s stock worth $61,000 after acquiring an additional 61 shares during the period. Mutual of America Capital Management LLC lifted its holdings in shares of WD-40 by 5.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 1,972 shares of the specialty chemicals company’s stock worth $361,000 after acquiring an additional 99 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of WD-40 by 2.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 30,518 shares of the specialty chemicals company’s stock worth $5,592,000 after acquiring an additional 594 shares during the period. Benjamin Edwards Inc. raised its holdings in WD-40 by 86.8% in the first quarter. Benjamin Edwards Inc. now owns 1,524 shares of the specialty chemicals company’s stock valued at $279,000 after buying an additional 708 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in WD-40 by 145.9% in the first quarter. Victory Capital Management Inc. now owns 5,270 shares of the specialty chemicals company’s stock valued at $970,000 after buying an additional 3,127 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Geoffrey Holdsworth sold 2,652 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $152.12, for a total transaction of $403,422.24. Following the completion of the sale, the director now owns 6,061 shares of the company’s stock, valued at $921,999.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Geoffrey Holdsworth sold 2,652 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $152.12, for a total transaction of $403,422.24. Following the completion of the sale, the director now owns 6,061 shares of the company’s stock, valued at $921,999.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven A. Brass purchased 632 shares of the firm’s stock in a transaction dated Wednesday, October 26th. The shares were bought at an average cost of $158.16 per share, with a total value of $99,957.12. Following the transaction, the chief executive officer now directly owns 15,389 shares of the company’s stock, valued at approximately $2,433,924.24. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.

WD-40 Trading Down 0.4 %

WDFC opened at $174.08 on Thursday. The firm has a market capitalization of $2.36 billion, a P/E ratio of 35.53 and a beta of -0.21. The firm’s 50 day moving average is $171.56 and its 200-day moving average is $181.86. WD-40 has a 52-week low of $145.16 and a 52-week high of $255.31. The company has a quick ratio of 1.31, a current ratio of 2.25 and a debt-to-equity ratio of 0.57.

WD-40 (NASDAQ:WDFCGet Rating) last posted its quarterly earnings data on Wednesday, October 19th. The specialty chemicals company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The firm had revenue of $130.40 million for the quarter, compared to analysts’ expectations of $131.10 million. WD-40 had a net margin of 12.98% and a return on equity of 34.48%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 EPS. Analysts expect that WD-40 will post 5.24 EPS for the current fiscal year.

WD-40 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Friday, October 21st were paid a dividend of $0.78 per share. The ex-dividend date was Thursday, October 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.79%. WD-40’s dividend payout ratio is currently 63.67%.

Analysts Set New Price Targets

Several research analysts recently commented on WDFC shares. StockNews.com started coverage on shares of WD-40 in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. DA Davidson raised their price target on shares of WD-40 from $205.00 to $207.00 and gave the company a “buy” rating in a report on Thursday, October 20th.

About WD-40

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WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, Australia, and the Asia Pacific. The company provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name; 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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Institutional Ownership by Quarter for WD-40 (NASDAQ:WDFC)

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