Rice Hall James & Associates LLC Sells 100 Shares of WD-40 (NASDAQ:WDFC)

Rice Hall James & Associates LLC reduced its holdings in shares of WD-40 (NASDAQ:WDFC) by 6.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,350 shares of the specialty chemicals company’s stock after selling 100 shares during the quarter. Rice Hall James & Associates LLC’s holdings in WD-40 were worth $297,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Profit Investment Management LLC grew its stake in shares of WD-40 by 0.3% during the 2nd quarter. Profit Investment Management LLC now owns 16,067 shares of the specialty chemicals company’s stock worth $3,529,000 after acquiring an additional 43 shares in the last quarter. Bridge City Capital LLC grew its stake in shares of WD-40 by 0.8% in the first quarter. Bridge City Capital LLC now owns 5,991 shares of the specialty chemicals company’s stock valued at $1,518,000 after buying an additional 45 shares in the last quarter. Arizona State Retirement System grew its stake in shares of WD-40 by 1.8% in the second quarter. Arizona State Retirement System now owns 3,794 shares of the specialty chemicals company’s stock valued at $833,000 after buying an additional 68 shares in the last quarter. Covestor Ltd grew its stake in shares of WD-40 by 57.7% in the first quarter. Covestor Ltd now owns 216 shares of the specialty chemicals company’s stock valued at $55,000 after buying an additional 79 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of WD-40 by 0.4% in the first quarter. Swiss National Bank now owns 26,800 shares of the specialty chemicals company’s stock valued at $6,789,000 after buying an additional 100 shares in the last quarter. 91.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson decreased their target price on shares of WD-40 from $313.00 to $303.00 and set a “buy” rating for the company in a research note on Thursday, July 11th.

WD-40 Price Performance

NASDAQ:WDFC opened at $252.85 on Friday. WD-40 has a 1-year low of $194.09 and a 1-year high of $278.78. The company has a current ratio of 2.27, a quick ratio of 1.56 and a debt-to-equity ratio of 0.40. The firm has a fifty day simple moving average of $250.63 and a 200 day simple moving average of $241.92. The stock has a market capitalization of $3.43 billion, a PE ratio of 49.68 and a beta of -0.08.

WD-40 (NASDAQ:WDFC) last announced its quarterly earnings results on Wednesday, July 10th. The specialty chemicals company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.07. WD-40 had a return on equity of 32.43% and a net margin of 12.07%. The business had revenue of $155.05 million during the quarter, compared to the consensus estimate of $145.80 million. During the same quarter last year, the firm posted $1.38 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that WD-40 will post 5.22 EPS for the current fiscal year.

WD-40 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 19th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Friday, July 19th. WD-40’s dividend payout ratio is 69.16%.

About WD-40

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 provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.