The Manufacturers Life Insurance Company Raises Position in WD-40 (NASDAQ:WDFC)

The Manufacturers Life Insurance Company raised its holdings in shares of WD-40 (NASDAQ:WDFC) by 3.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 7,619 shares of the specialty chemicals company’s stock after acquiring an additional 229 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in WD-40 were worth $1,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of WDFC. DekaBank Deutsche Girozentrale purchased a new position in shares of WD-40 during the 1st quarter valued at $34,000. Advisors Asset Management Inc. purchased a new stake in WD-40 in the 1st quarter worth about $43,000. Covestor Ltd grew 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 worth $55,000 after acquiring an additional 79 shares in the last quarter. Blue Trust Inc. bought a new position in WD-40 in the 2nd quarter worth about $67,000. Finally, Scarborough Advisors LLC bought a new position in WD-40 in the 4th quarter worth about $104,000. Hedge funds and other institutional investors own 91.52% of the company’s stock.

Analyst Upgrades and Downgrades

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 Price Performance

Shares of WDFC opened at $257.26 on Friday. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 50.54 and a beta of -0.08. WD-40 has a twelve month low of $194.09 and a twelve month high of $278.78. The company has a quick ratio of 1.56, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average of $255.49 and a two-hundred day moving average of $242.04.

WD-40 (NASDAQ:WDFC) last posted 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. WD-40 had a net margin of 12.07% and a return on equity of 32.43%. The business had revenue of $155.05 million during the quarter, compared to analysts’ expectations of $145.80 million. During the same quarter last year, the company posted $1.38 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts predict that WD-40 will post 5.22 earnings per share for the current fiscal year.

WD-40 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 18th will be issued a dividend of $0.88 per share. The ex-dividend date is Friday, October 18th. This represents a $3.52 annualized dividend and a dividend yield of 1.37%. WD-40’s dividend payout ratio (DPR) is presently 69.16%.

WD-40 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.