Texas Permanent School Fund Corp Buys 2,630 Shares of WD-40 (NASDAQ:WDFC)

Texas Permanent School Fund Corp boosted its stake in shares of WD-40 (NASDAQ:WDFC) by 22.2% in the second quarter, Holdings Channel reports. The institutional investor owned 14,499 shares of the specialty chemicals company’s stock after purchasing an additional 2,630 shares during the period. Texas Permanent School Fund Corp’s holdings in WD-40 were worth $3,185,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WDFC. YHB Investment Advisors Inc. bought a new stake in shares of WD-40 in the 1st quarter worth $33,000. DekaBank Deutsche Girozentrale bought a new stake in shares of WD-40 in the 1st quarter worth $34,000. Advisors Asset Management Inc. bought a new stake in shares of WD-40 in the 1st quarter worth $43,000. Covestor Ltd increased its holdings in shares of WD-40 by 57.7% in the 1st quarter. Covestor Ltd now owns 216 shares of the specialty chemicals company’s stock worth $55,000 after purchasing an additional 79 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of WD-40 in the 4th quarter worth $60,000. Institutional investors own 91.52% of the company’s stock.

Analyst Upgrades and Downgrades

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

WD-40 Stock Performance

WDFC stock opened at $257.43 on Monday. The company has a market cap of $3.49 billion, a P/E ratio of 50.58 and a beta of -0.08. WD-40 has a 1 year low of $194.09 and a 1 year high of $278.78. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.56. The stock’s fifty day moving average price is $252.29 and its 200-day moving average price is $241.56.

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

WD-40 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 19th were paid a $0.88 dividend. 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 (DPR) is currently 69.16%.

WD-40 Company Profile

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.