Victory Capital Management Inc. Increases Stake in WD-40 (NASDAQ:WDFC)

Victory Capital Management Inc. lifted its holdings in shares of WD-40 (NASDAQ:WDFC) by 5.4% in the 2nd quarter, Holdings Channel reports. The firm owned 14,864 shares of the specialty chemicals company’s stock after acquiring an additional 755 shares during the period. Victory Capital Management Inc.’s holdings in WD-40 were worth $3,265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in WD-40 by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 136,121 shares of the specialty chemicals company’s stock worth $32,542,000 after buying an additional 2,765 shares during the last quarter. Principal Securities Inc. purchased a new stake in WD-40 in the fourth quarter worth $60,000. Teacher Retirement System of Texas grew its stake in WD-40 by 199.5% in the fourth quarter. Teacher Retirement System of Texas now owns 3,142 shares of the specialty chemicals company’s stock worth $751,000 after purchasing an additional 2,093 shares during the period. Avantax Advisory Services Inc. grew its stake in WD-40 by 17.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,220 shares of the specialty chemicals company’s stock worth $531,000 after purchasing an additional 334 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in WD-40 by 33.8% in the fourth quarter. Quadrant Capital Group LLC now owns 515 shares of the specialty chemicals company’s stock worth $123,000 after purchasing an additional 130 shares during the period. Hedge funds and other institutional investors own 91.52% of the company’s stock.

WD-40 Stock Up 1.1 %

WDFC stock opened at $260.29 on Tuesday. WD-40 has a fifty-two week low of $194.09 and a fifty-two week high of $278.78. The business’s 50-day moving average is $253.09 and its two-hundred day moving average is $241.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.56 and a current ratio of 2.27. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 51.14 and a beta of -0.08.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings data on Wednesday, July 10th. The specialty chemicals company reported $1.46 EPS for the quarter, topping 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 firm had revenue of $155.05 million for the quarter, compared to the consensus estimate of $145.80 million. During the same quarter last year, the company earned $1.38 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts forecast that WD-40 will post 5.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, DA Davidson cut their target price on 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 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.