WD-40 (NASDAQ:WDFC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in WD-40 (NASDAQ:WDFC) by 8.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,038 shares of the specialty chemicals company’s stock after selling 190 shares during the quarter. Mutual of America Capital Management LLC’s holdings in WD-40 were worth $526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Natixis Advisors LLC raised its stake in WD-40 by 0.8% in the 3rd quarter. Natixis Advisors LLC now owns 84,829 shares of the specialty chemicals company’s stock valued at $21,876,000 after purchasing an additional 710 shares during the last quarter. KBC Group NV grew its holdings in shares of WD-40 by 28.6% during the third quarter. KBC Group NV now owns 445 shares of the specialty chemicals company’s stock worth $115,000 after buying an additional 99 shares in the last quarter. Geneva Capital Management LLC grew its holdings in shares of WD-40 by 0.5% during the third quarter. Geneva Capital Management LLC now owns 211,624 shares of the specialty chemicals company’s stock worth $54,574,000 after buying an additional 988 shares in the last quarter. Versor Investments LP acquired a new position in shares of WD-40 in the third quarter valued at approximately $232,000. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of WD-40 by 24.3% during the third quarter. Crossmark Global Holdings Inc. now owns 1,193 shares of the specialty chemicals company’s stock valued at $307,000 after buying an additional 233 shares during the period. 91.52% of the stock is currently owned by hedge funds and other institutional investors.

WD-40 Price Performance

WDFC opened at $280.27 on Wednesday. WD-40 has a 1 year low of $211.03 and a 1 year high of $292.36. The company’s 50 day simple moving average is $266.00 and its 200 day simple moving average is $249.54. The stock has a market capitalization of $3.80 billion, a PE ratio of 56.06 and a beta of -0.08. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.70 and a current ratio of 2.47.

WD-40 (NASDAQ:WDFC) last announced its quarterly 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). The company had revenue of $156.00 million during the quarter, compared to analyst estimates of $149.20 million. WD-40 had a net margin of 11.79% and a return on equity of 31.53%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.21 EPS. As a group, sell-side analysts expect that WD-40 will post 5.36 EPS for the current year.

WD-40 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 18th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $3.52 annualized dividend and a yield of 1.26%. WD-40’s dividend payout ratio is presently 68.88%.

Insiders Place Their Bets

In other news, Director William B. Noble sold 1,000 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $289.70, for a total value of $289,700.00. Following the completion of the sale, the director now owns 7,999 shares of the company’s stock, valued at $2,317,310.30. This represents a 11.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WDFC. DA Davidson reiterated a “buy” rating and issued a $322.00 price target on shares of WD-40 in a report on Monday, November 18th. Jefferies Financial Group upped their target price on WD-40 from $250.00 to $280.00 and gave the company a “hold” rating in a research note on Friday, October 18th.

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.