Raymond James & Associates Acquires 1,509 Shares of WD-40 (NASDAQ:WDFC)

Raymond James & Associates raised its position in shares of WD-40 (NASDAQ:WDFCGet Rating) by 13.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,869 shares of the specialty chemicals company’s stock after purchasing an additional 1,509 shares during the quarter. Raymond James & Associates’ holdings in WD-40 were worth $2,262,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fifth Third Bancorp increased its stake in WD-40 by 24.0% during the 2nd quarter. Fifth Third Bancorp now owns 2,296 shares of the specialty chemicals company’s stock valued at $462,000 after purchasing an additional 444 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in WD-40 by 5.7% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 12,888 shares of the specialty chemicals company’s stock valued at $2,595,000 after purchasing an additional 693 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in WD-40 by 1.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 31,044 shares of the specialty chemicals company’s stock valued at $6,251,000 after purchasing an additional 526 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in WD-40 by 3.0% during the 2nd quarter. Exchange Traded Concepts LLC now owns 6,358 shares of the specialty chemicals company’s stock valued at $1,280,000 after purchasing an additional 188 shares in the last quarter. Finally, Granite Investment Partners LLC increased its stake in WD-40 by 43.2% during the 2nd quarter. Granite Investment Partners LLC now owns 29,702 shares of the specialty chemicals company’s stock valued at $5,981,000 after purchasing an additional 8,964 shares in the last quarter. 92.24% of the stock is currently owned by institutional investors.

WD-40 Stock Performance

Shares of WDFC stock opened at $176.71 on Monday. The company has a 50 day moving average price of $167.59 and a 200-day moving average price of $175.33. WD-40 has a 52 week low of $145.16 and a 52 week high of $236.73. The firm has a market capitalization of $2.40 billion, a PE ratio of 38.58 and a beta of -0.18. The company has a quick ratio of 1.20, a current ratio of 2.25 and a debt-to-equity ratio of 0.56.

WD-40 (NASDAQ:WDFCGet Rating) last announced its quarterly earnings results on Monday, January 9th. The specialty chemicals company reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.07). The company had revenue of $124.89 million during the quarter, compared to the consensus estimate of $140.70 million. WD-40 had a return on equity of 32.44% and a net margin of 12.33%. The business’s revenue was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.34 earnings per share. As a group, equities research analysts expect that WD-40 will post 5.19 earnings per share for the current year.

WD-40 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, January 13th will be issued a $0.83 dividend. This is an increase from WD-40’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.88%. WD-40’s dividend payout ratio (DPR) is presently 72.49%.

Insider Buying and Selling

In related news, insider Patricia Q. Olsem sold 625 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 3,181 shares of the company’s stock, valued at $524,865. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Steven A. Brass purchased 586 shares of the stock in a transaction on Wednesday, January 18th. The shares were acquired at an average price of $170.57 per share, with a total value of $99,954.02. Following the completion of the acquisition, the chief executive officer now directly owns 15,975 shares of the company’s stock, valued at $2,724,855.75. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Patricia Q. Olsem sold 625 shares of WD-40 stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $165.00, for a total transaction of $103,125.00. Following the transaction, the insider now directly owns 3,181 shares in the company, valued at approximately $524,865. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

WDFC has been the subject of a number of analyst reports. StockNews.com started coverage on shares of WD-40 in a research note on Wednesday, October 12th. They set a “hold” rating for the company. DA Davidson lifted their price target on shares of WD-40 from $205.00 to $207.00 and gave the stock a “buy” rating in a research note on Thursday, October 20th.

WD-40 Company Profile

(Get Rating)

WD-40 Co engages in developing and selling products that solve problems in workshops, factories, and homes. The firm operates through the following geographical segments: Americas, Europe, Middle East, and Africa (EMEA), and Asia-Pacific. Its product brands include WD-40 multi-use product, WD-40 specialist, 3-in-one, GT85, X-14, 2000 flushes, carpet fresh, no vac, spot shot, 1001, lava, and solvol.

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

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