Inspire Investing LLC Has $352,000 Stake in WD-40 (NASDAQ:WDFC)

Inspire Investing LLC grew its stake in shares of WD-40 (NASDAQ:WDFC) by 13.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,602 shares of the specialty chemicals company’s stock after acquiring an additional 193 shares during the quarter. Inspire Investing LLC’s holdings in WD-40 were worth $352,000 at the end of the most recent quarter.

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

WD-40 Price Performance

Shares of NASDAQ WDFC opened at $256.68 on Tuesday. The company has a fifty day moving average price of $255.95 and a 200 day moving average price of $241.52. The firm has a market cap of $3.48 billion, a PE ratio of 50.43 and a beta of -0.08. The company has a current ratio of 2.27, a quick ratio of 1.56 and a debt-to-equity ratio of 0.40. WD-40 has a 1-year low of $194.09 and a 1-year high of $278.78.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings data on Wednesday, July 10th. The specialty chemicals company reported $1.46 earnings per share 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 company had revenue of $155.05 million during the quarter, compared to analysts’ expectations of $145.80 million. During the same period in the prior year, the firm earned $1.38 earnings per share. WD-40’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts predict that WD-40 will post 5.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, DA Davidson dropped their target price on shares of WD-40 from $313.00 to $303.00 and set a “buy” rating on the stock in a report 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.