DAVENPORT & Co LLC Lowers Stock Position in WD-40 (NASDAQ:WDFC)

DAVENPORT & Co LLC lessened its holdings in WD-40 (NASDAQ:WDFCGet Rating) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,781 shares of the specialty chemicals company’s stock after selling 283 shares during the quarter. DAVENPORT & Co LLC’s holdings in WD-40 were worth $1,170,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. First Trust Advisors LP acquired a new stake in shares of WD-40 during the 4th quarter valued at approximately $62,998,000. Principal Financial Group Inc. lifted its position in shares of WD-40 by 90.3% during the 4th quarter. Principal Financial Group Inc. now owns 183,370 shares of the specialty chemicals company’s stock valued at $44,860,000 after acquiring an additional 87,012 shares during the period. Conestoga Capital Advisors LLC lifted its position in shares of WD-40 by 21.9% during the 4th quarter. Conestoga Capital Advisors LLC now owns 306,107 shares of the specialty chemicals company’s stock valued at $74,886,000 after acquiring an additional 55,061 shares during the period. Morgan Stanley lifted its position in shares of WD-40 by 46.8% during the 3rd quarter. Morgan Stanley now owns 170,303 shares of the specialty chemicals company’s stock valued at $39,422,000 after acquiring an additional 54,302 shares during the period. Finally, Comerica Bank lifted its position in shares of WD-40 by 107.1% during the 3rd quarter. Comerica Bank now owns 70,117 shares of the specialty chemicals company’s stock valued at $15,801,000 after acquiring an additional 36,261 shares during the period. 90.78% of the stock is currently owned by institutional investors.

Shares of WD-40 stock traded up $9.37 during trading on Thursday, hitting $186.17. 101,967 shares of the company were exchanged, compared to its average volume of 97,595. The company has a quick ratio of 1.91, a current ratio of 2.81 and a debt-to-equity ratio of 0.57. WD-40 has a fifty-two week low of $170.44 and a fifty-two week high of $279.98. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 38.06 and a beta of -0.15. The firm has a 50 day moving average price of $187.87 and a 200 day moving average price of $215.40.

WD-40 (NASDAQ:WDFCGet Rating) last issued its quarterly earnings results on Thursday, April 7th. The specialty chemicals company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.39. The company had revenue of $130.00 million during the quarter, compared to the consensus estimate of $126.80 million. WD-40 had a return on equity of 33.73% and a net margin of 13.07%. WD-40’s revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 EPS. Analysts predict that WD-40 will post 5.18 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Friday, April 15th were issued a $0.78 dividend. The ex-dividend date of this dividend was Wednesday, April 13th. This represents a $3.12 annualized dividend and a yield of 1.68%. WD-40’s dividend payout ratio (DPR) is presently 63.93%.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of WD-40 from a “hold” rating to a “sell” rating in a research report on Wednesday, April 6th. DA Davidson upgraded WD-40 from an “underperform” rating to a “neutral” rating in a research report on Friday, April 8th. Finally, StockNews.com initiated coverage on WD-40 in a research report on Thursday, March 31st. They set a “hold” rating for the company.

WD-40 Profile (Get Rating)

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, and in liquid-bulk form products under the WD-40 Multi-Use brand name; and specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand, as well as various products under the WD-40 Bike brand name.

Further Reading

Institutional Ownership by Quarter for WD-40 (NASDAQ:WDFC)

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