Glenmede Trust Co. NA Reduces Stock Position in WD-40 (NASDAQ:WDFC)

Glenmede Trust Co. NA decreased its stake in shares of WD-40 (NASDAQ:WDFC) by 10.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,399 shares of the specialty chemicals company’s stock after selling 267 shares during the quarter. Glenmede Trust Co. NA’s holdings in WD-40 were worth $619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WDFC. Conestoga Capital Advisors LLC raised its holdings in shares of WD-40 by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 321,760 shares of the specialty chemicals company’s stock worth $82,975,000 after acquiring an additional 5,381 shares during the period. Dimensional Fund Advisors LP increased its position in WD-40 by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 307,097 shares of the specialty chemicals company’s stock worth $67,452,000 after purchasing an additional 5,893 shares during the last quarter. Geneva Capital Management LLC raised its stake in 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 purchasing an additional 988 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in WD-40 by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 145,462 shares of the specialty chemicals company’s stock valued at $37,512,000 after purchasing an additional 3,960 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of WD-40 by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 142,222 shares of the specialty chemicals company’s stock valued at $31,238,000 after buying an additional 3,458 shares during the period. Institutional investors and hedge funds own 91.52% of the company’s stock.

WD-40 Trading Down 0.9 %

Shares of WDFC stock opened at $274.35 on Wednesday. WD-40 has a 1-year low of $211.03 and a 1-year high of $292.36. The firm has a market cap of $3.72 billion, a PE ratio of 53.69 and a beta of -0.07. The company has a 50-day moving average of $268.09 and a two-hundred day moving average of $251.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.47 and a quick ratio of 1.70.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $149.20 million. WD-40 had a return on equity of 31.53% and a net margin of 11.79%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 EPS. On average, analysts predict that WD-40 will post 5.36 EPS for the current year.

WD-40 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 18th were issued a $0.88 dividend. The ex-dividend date was Friday, October 18th. This represents a $3.52 annualized dividend and a dividend yield of 1.28%. WD-40’s dividend payout ratio is presently 68.88%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WDFC. DA Davidson reaffirmed a “buy” rating and set a $322.00 price target on shares of WD-40 in a research report on Monday, November 18th. Jefferies Financial Group lifted their target price on WD-40 from $250.00 to $280.00 and gave the company a “hold” rating in a research report on Friday, October 18th.

Insider Activity at WD-40

In other WD-40 news, Director William B. Noble sold 1,000 shares of WD-40 stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $289.70, for a total value of $289,700.00. Following the completion of the transaction, the director now directly owns 7,999 shares of the company’s stock, valued at $2,317,310.30. The trade was a 11.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.75% of the company’s stock.

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.