Stonegate Investment Group LLC Sells 70 Shares of WD-40 (NASDAQ:WDFC)

Stonegate Investment Group LLC trimmed its position in WD-40 (NASDAQ:WDFC) by 6.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,000 shares of the specialty chemicals company’s stock after selling 70 shares during the period. Stonegate Investment Group LLC’s holdings in WD-40 were worth $258,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in WD-40 during the third quarter valued at about $29,000. DekaBank Deutsche Girozentrale bought a new position in WD-40 during the first quarter worth about $34,000. Advisors Asset Management Inc. bought a new position in WD-40 in the 1st quarter worth approximately $43,000. Covestor Ltd raised its holdings in WD-40 by 57.7% during the 1st quarter. Covestor Ltd now owns 216 shares of the specialty chemicals company’s stock valued at $55,000 after acquiring an additional 79 shares during the period. Finally, Blue Trust Inc. bought a new stake in WD-40 during the 2nd quarter valued at $67,000. Hedge funds and other institutional investors own 91.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. DA Davidson lifted their price target on WD-40 from $303.00 to $322.00 and gave the company a “buy” rating in a research report on Friday. Jefferies Financial Group upped their price target on WD-40 from $250.00 to $280.00 and gave the company a “hold” rating in a research report on Friday.

WD-40 Stock Down 4.8 %

WDFC opened at $251.25 on Friday. The firm has a market capitalization of $3.40 billion, a P/E ratio of 49.36 and a beta of -0.08. WD-40 has a one year low of $194.09 and a one year high of $278.78. The company has a fifty day moving average price of $256.53 and a 200-day moving average price of $242.40. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.56.

WD-40 (NASDAQ:WDFC) last posted its earnings results on Thursday, October 17th. The specialty chemicals company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.11). WD-40 had a return on equity of 32.43% and a net margin of 12.07%. The business had revenue of $156.00 million for the quarter, compared to analysts’ expectations of $149.20 million. During the same quarter in the previous year, the firm earned $1.21 earnings per share. WD-40’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts expect that WD-40 will post 5.22 earnings per share for the current fiscal year.

WD-40 Dividend Announcement

The business 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 $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, October 18th. WD-40’s dividend payout ratio (DPR) is 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.