Cubist Systematic Strategies LLC Buys 125 Shares of WD-40 (NASDAQ:WDFC)

Cubist Systematic Strategies LLC raised its stake in shares of WD-40 (NASDAQ:WDFC) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 12,536 shares of the specialty chemicals company’s stock after buying an additional 125 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in WD-40 were worth $2,753,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WDFC. Sanctuary Advisors LLC purchased a new position in shares of WD-40 during the 2nd quarter worth approximately $325,000. Cetera Investment Advisers boosted its position in shares of WD-40 by 81.5% during the second quarter. Cetera Investment Advisers now owns 4,578 shares of the specialty chemicals company’s stock valued at $1,006,000 after purchasing an additional 2,056 shares in the last quarter. Algert Global LLC grew its stake in WD-40 by 173.2% in the second quarter. Algert Global LLC now owns 4,820 shares of the specialty chemicals company’s stock worth $1,059,000 after purchasing an additional 3,056 shares during the period. The Manufacturers Life Insurance Company raised its holdings in WD-40 by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 7,619 shares of the specialty chemicals company’s stock worth $1,673,000 after purchasing an additional 229 shares in the last quarter. Finally, Millennium Management LLC lifted its position in WD-40 by 80.5% during the second quarter. Millennium Management LLC now owns 69,650 shares of the specialty chemicals company’s stock valued at $15,298,000 after buying an additional 31,055 shares during the period. 91.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

WD-40 Price Performance

WDFC stock opened at $260.59 on Friday. 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 firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 51.20 and a beta of -0.08. The firm has a 50 day moving average price of $255.49 and a 200-day moving average price of $242.04. WD-40 has a 52-week low of $194.09 and a 52-week high of $278.78.

WD-40 (NASDAQ:WDFC) last released its earnings results 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 business had revenue of $155.05 million for the quarter, compared to the consensus estimate of $145.80 million. During the same period in the previous year, the company posted $1.38 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts forecast that WD-40 will post 5.22 EPS for the current fiscal year.

WD-40 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 18th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, October 18th. WD-40’s dividend payout ratio (DPR) is 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.