WD-40 (NASDAQ:WDFC) Holdings Reduced by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC reduced its stake in WD-40 (NASDAQ:WDFC) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,513 shares of the specialty chemicals company’s stock after selling 190 shares during the period. Commonwealth Equity Services LLC’s holdings in WD-40 were worth $1,650,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. YHB Investment Advisors Inc. acquired a new stake in WD-40 during the first quarter valued at approximately $33,000. DekaBank Deutsche Girozentrale acquired a new position in WD-40 in the 1st quarter valued at approximately $34,000. Advisors Asset Management Inc. acquired a new position in WD-40 in the 1st quarter valued at approximately $43,000. Covestor Ltd increased its stake in WD-40 by 57.7% in the 1st quarter. Covestor Ltd now owns 216 shares of the specialty chemicals company’s stock valued at $55,000 after buying an additional 79 shares during the period. Finally, Principal Securities Inc. acquired a new position in WD-40 in the 4th quarter valued at approximately $60,000. 91.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

WD-40 Stock Up 1.8 %

WD-40 stock opened at $257.43 on Friday. The firm’s 50 day moving average price is $252.29 and its two-hundred day moving average price is $241.74. WD-40 has a twelve month low of $194.09 and a twelve month high of $278.78. The firm has a market cap of $3.49 billion, a PE ratio of 50.58 and a beta of -0.08. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.56 and a current ratio of 2.27.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Wednesday, July 10th. The specialty chemicals company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.07. The business had revenue of $155.05 million for the quarter, compared to the consensus estimate of $145.80 million. WD-40 had a net margin of 12.07% and a return on equity of 32.43%. WD-40’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.38 EPS. On average, research analysts predict 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. Stockholders of record on Friday, July 19th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.37%. WD-40’s dividend payout ratio is currently 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.