Handelsbanken Fonder AB Decreases Stock Holdings in WD-40 (NASDAQ:WDFC)

Handelsbanken Fonder AB decreased its holdings in WD-40 (NASDAQ:WDFCGet Rating) by 10.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,565 shares of the specialty chemicals company’s stock after selling 300 shares during the period. Handelsbanken Fonder AB’s holdings in WD-40 were worth $451,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of WDFC. First Trust Advisors LP increased its position in shares of WD-40 by 27.4% during the 1st quarter. First Trust Advisors LP now owns 328,113 shares of the specialty chemicals company’s stock valued at $60,120,000 after purchasing an additional 70,598 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of WD-40 by 36.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 121,804 shares of the specialty chemicals company’s stock valued at $24,526,000 after purchasing an additional 32,679 shares during the last quarter. BlackRock Inc. increased its position in shares of WD-40 by 1.2% during the 1st quarter. BlackRock Inc. now owns 2,125,850 shares of the specialty chemicals company’s stock valued at $389,520,000 after purchasing an additional 25,648 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of WD-40 by 161.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 40,163 shares of the specialty chemicals company’s stock valued at $8,087,000 after purchasing an additional 24,779 shares during the last quarter. Finally, State Street Corp increased its position in shares of WD-40 by 4.0% during the 1st quarter. State Street Corp now owns 479,538 shares of the specialty chemicals company’s stock valued at $87,866,000 after purchasing an additional 18,465 shares during the last quarter. Hedge funds and other institutional investors own 92.24% of the company’s stock.

Insider Activity

In other news, insider Patricia Q. Olsem sold 625 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $165.00, for a total transaction of $103,125.00. Following the completion of the transaction, the insider now directly owns 3,181 shares in the company, valued at approximately $524,865. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Steven A. Brass bought 632 shares of the stock in a transaction dated Wednesday, October 26th. The stock was purchased at an average cost of $158.16 per share, for a total transaction of $99,957.12. Following the transaction, the chief executive officer now owns 15,389 shares of the company’s stock, valued at $2,433,924.24. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Patricia Q. Olsem sold 625 shares of the stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $165.00, for a total value of $103,125.00. Following the sale, the insider now owns 3,181 shares in the company, valued at approximately $524,865. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WDFC. DA Davidson boosted their price objective on WD-40 from $205.00 to $207.00 and gave the company a “buy” rating in a research note on Thursday, October 20th. StockNews.com began coverage on WD-40 in a research note on Wednesday, October 12th. They set a “hold” rating for the company.

WD-40 Trading Up 3.1 %

WDFC stock opened at $169.42 on Thursday. WD-40 has a 1-year low of $145.16 and a 1-year high of $255.31. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.25 and a quick ratio of 1.31. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 36.99 and a beta of -0.18. The business has a 50 day simple moving average of $166.04 and a two-hundred day simple moving average of $176.84.

WD-40 (NASDAQ:WDFCGet Rating) last posted its quarterly earnings results on Monday, January 9th. The specialty chemicals company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.07). WD-40 had a return on equity of 32.32% and a net margin of 12.33%. The business had revenue of $124.89 million during the quarter, compared to the consensus estimate of $140.70 million. During the same quarter in the previous year, the company earned $1.34 earnings per share. The company’s revenue for the quarter was down 7.3% compared to the same quarter last year. Research analysts anticipate that WD-40 will post 5.24 EPS for the current fiscal year.

WD-40 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, January 13th will be given a dividend of $0.83 per share. This is an increase from WD-40’s previous quarterly dividend of $0.78. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, January 12th. WD-40’s dividend payout ratio is currently 68.12%.

About WD-40

(Get Rating)

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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Want to see what other hedge funds are holding WDFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WD-40 (NASDAQ:WDFCGet Rating).

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

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