Nisa Investment Advisors LLC Has $715,000 Stock Position in WD-40 (NASDAQ:WDFC)

Nisa Investment Advisors LLC reduced its stake in WD-40 (NASDAQ:WDFC) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,771 shares of the specialty chemicals company’s stock after selling 183 shares during the quarter. Nisa Investment Advisors LLC’s holdings in WD-40 were worth $715,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WDFC. Allspring Global Investments Holdings LLC lifted its stake in shares of WD-40 by 152.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,689 shares of the specialty chemicals company’s stock worth $428,000 after acquiring an additional 1,020 shares during the period. BNP Paribas Financial Markets lifted its stake in WD-40 by 17.3% in the first quarter. BNP Paribas Financial Markets now owns 14,233 shares of the specialty chemicals company’s stock valued at $3,605,000 after buying an additional 2,096 shares during the period. Texas Permanent School Fund Corp lifted its stake in WD-40 by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 11,869 shares of the specialty chemicals company’s stock valued at $3,007,000 after buying an additional 157 shares during the period. Duality Advisers LP acquired a new position in WD-40 in the first quarter valued at approximately $896,000. Finally, Quantbot Technologies LP acquired a new position in WD-40 in the first quarter valued at approximately $305,000. 91.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WDFC has been the topic of several recent analyst reports. DA Davidson boosted their price target on WD-40 from $303.00 to $322.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Jefferies Financial Group boosted their price target on WD-40 from $250.00 to $280.00 and gave the company a “hold” rating in a research note on Friday, October 18th.

Insider Activity at WD-40

In related news, Director William B. Noble sold 800 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $256.98, for a total value of $205,584.00. Following the completion of the sale, the director now directly owns 8,999 shares of the company’s stock, valued at approximately $2,312,563.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.65% of the stock is currently owned by insiders.

WD-40 Price Performance

Shares of NASDAQ:WDFC opened at $267.65 on Tuesday. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.37. WD-40 has a twelve month low of $211.03 and a twelve month high of $278.78. The stock’s 50 day moving average is $259.52 and its 200-day moving average is $244.11. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 52.38 and a beta of -0.08.

WD-40 (NASDAQ:WDFC) last issued its earnings results on Thursday, October 17th. The specialty chemicals company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.11). WD-40 had a return on equity of 31.53% and a net margin of 11.79%. The firm had revenue of $156.00 million for the quarter, compared to analyst estimates of $149.20 million. During the same period in the previous year, the company earned $1.21 earnings per share. WD-40’s revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts forecast that WD-40 will post 5.36 EPS for the current fiscal year.

WD-40 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 18th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, October 18th. WD-40’s payout ratio is 68.88%.

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.