WD-40 (NASDAQ:WDFC) Position Reduced by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its stake in shares of WD-40 (NASDAQ:WDFC) by 44.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,914 shares of the specialty chemicals company’s stock after selling 1,555 shares during the period. Hsbc Holdings PLC’s holdings in WD-40 were worth $421,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of WDFC. Dimensional Fund Advisors LP lifted its position in shares of 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. WINTON GROUP Ltd raised its stake in WD-40 by 13.9% during the second quarter. WINTON GROUP Ltd now owns 4,050 shares of the specialty chemicals company’s stock valued at $890,000 after buying an additional 493 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in WD-40 by 11.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 60,925 shares of the specialty chemicals company’s stock worth $13,382,000 after buying an additional 6,434 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of WD-40 by 10.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,489 shares of the specialty chemicals company’s stock worth $327,000 after acquiring an additional 146 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of WD-40 by 240.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 467 shares of the specialty chemicals company’s stock worth $103,000 after acquiring an additional 330 shares in the last quarter. Institutional investors own 91.52% of the company’s stock.

WD-40 Price Performance

Shares of NASDAQ:WDFC opened at $257.16 on Wednesday. The company has a market cap of $3.48 billion, a PE ratio of 50.52 and a beta of -0.08. WD-40 has a fifty-two week low of $194.09 and a fifty-two week high of $278.78. The firm has a 50-day simple moving average of $256.38 and a 200 day simple moving average of $241.64. The company has a quick ratio of 1.56, a current ratio of 2.27 and a debt-to-equity ratio of 0.40.

WD-40 (NASDAQ:WDFC) last announced its quarterly earnings results on Wednesday, July 10th. The specialty chemicals company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.07. The business had revenue of $155.05 million for the quarter, compared to the consensus estimate of $145.80 million. WD-40 had a return on equity of 32.43% and a net margin of 12.07%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $1.38 EPS. On average, sell-side analysts anticipate that WD-40 will post 5.22 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.