Commonwealth Equity Services LLC Reduces Stock Holdings in WD-40 (NASDAQ:WDFC)

Commonwealth Equity Services LLC reduced its stake in WD-40 (NASDAQ: WDFC – Get Rating) shares by 0.6% in the first quarter, according to its latest 13F filing with the Securities and Exchange Commission (SEC). The fund held 14,028 shares of the specialty chemicals company after selling 79 shares during the quarter. Commonwealth Equity Services LLC held approximately 0.10% of WD-40 worth $2,570,000 when last filed with the SEC.

Other hedge funds have also recently changed their positions in the business. Mine & Arao Wealth Creation & Management LLC. increased its position in WD-40 by 50.0% during the 4th quarter. Mine & Arao Wealth Creation & Management LLC. now owns 150 shares of the specialty chemicals company valued at $37,000 after buying an additional 50 shares last quarter. Hardy Reed LLC acquired a new position in WD-40 during Q1 worth approximately $58,000. Steward Partners Investment Advisory LLC increased its holdings of WD-40 shares by 22.3% in the first quarter. Steward Partners Investment Advisory LLC now owns 335 shares of the specialty chemicals company valued at $61,000 after buying 61 additional shares during the period. Cornerstone Advisory LLC acquired a new position in WD-40 stock in the fourth quarter worth approximately $77,000. Finally, WFA of San Diego LLC acquired a new position in WD-40 stock in the fourth quarter valued at approximately $140,000. 90.78% of the shares are currently held by hedge funds and other institutional investors.

A Wall Street analyst gives his opinion

WDFC has been the subject of a number of research reports. TheStreet downgraded WD-40 from a “b-” rating to a “c+” rating in a Friday, July 8 report. DA Davidson upgraded WD-40 from a “neutral” rating to a “buy” rating and set a price target of $205.00 on the stock in a Monday, July 18 report. Finally, BWS Financial launched coverage on WD-40 in a Thursday, July 14 report. They issued a “sell” rating and a price target of $88.00 on the stock.

WD-40 stock up 4.7%

Shares of WDFC opened at $186.36 on Tuesday. WD-40 has a 52-week low of $163.61 and a 52-week high of $255.31. The company has a quick ratio of 1.51, a current ratio of 2.51 and a debt ratio of 0.56. The company has a market capitalization of $2.54 billion, a price-earnings ratio of 42.07 and a beta of -0.23. The stock’s 50-day moving average price is $185.61 and its 200-day moving average price is $192.33.

WD-40 (NASDAQ: WDFC – Get Rating) last reported results on Thursday, July 7. The specialty chemicals company reported EPS of $1.07 for the quarter, missing analyst consensus estimates of $1.28 per ($0.21). WD-40 had a return on equity of 30.75% and a net margin of 12.10%. The company posted revenue of $123.67 million in the quarter, compared to $142.80 million expected by analysts. In the same quarter of the previous year, the company achieved EPS of $1.52. The company’s quarterly revenue was down 9.3% from the same quarter last year. On average, sell-side analysts expect WD-40 to post an EPS of 5.08 for the current year.

WD-40 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 29. Shareholders of record on Friday, July 15 received a dividend of $0.78. The ex-dividend date was Thursday July 14. This represents a dividend of $3.12 on an annualized basis and a dividend yield of 1.67%. The distribution rate of WD-40 is 70.43%.

Insider Trading at WD-40

In other WD-40 news, Director Eric Etchart bought 500 shares in a trade on Thursday, August 4. The shares were purchased at an average price of $177.60 per share, for a total transaction of $88,800.00. Following completion of the transaction, the director now owns 5,692 shares of the company, valued at approximately $1,010,899.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Insiders of the company own 1.33% of the shares of the company.

WD-40 profile

(Get a rating)

WD-40 Company develops and sells janitorial, home care and cleaning products in the Americas, Europe, Middle East, Africa and Asia-Pacific. The company provides multi-purpose cleaning products that include aerosols, non-aerosol trigger aerosols and bulk liquid products under the WD-40 Multi-Use brand; 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.

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Institutional ownership by quarter for WD-40 (NASDAQ:WDFC)

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