Swiss National Bank buys 2,300 shares of WD-40 (NASDAQ: WDFC)

The Swiss National Bank increased its stake in WD-40 (NASDAQ: WDFC – Get Rating) shares by 7.6% in the first quarter, according to its latest communication with the Securities & Exchange Commission. The company held 32,400 shares of the specialty chemicals company after buying an additional 2,300 shares during the quarter. The Swiss National Bank’s holdings in WD-40 were worth $5,937,000 at the end of the last quarter.

A number of other large investors have also recently increased or reduced their stakes in WDFC. Quadrant Capital Group LLC increased its position in WD-40 by 386.1% during the first quarter. Quadrant Capital Group LLC now owns 175 shares of the specialty chemicals company worth $32,000 after purchasing an additional 139 shares during the period. Hardy Reed LLC purchased a new stake in WD-40 during the first quarter worth approximately $58,000. Steward Partners Investment Advisory LLC increased its position in WD-40 by 22.3% during the first quarter. Steward Partners Investment Advisory LLC now owns 335 shares of the specialty chemicals company worth $61,000 after buying 61 additional shares during the period. Cornerstone Advisory LLC purchased a new stake in WD-40 during the fourth quarter valued at approximately $77,000. Finally, Evergreen Capital Management LLC purchased a new stake in WD-40 during the fourth quarter at a value of approximately $203,000. Institutional investors hold 90.78% of the company’s shares.

WD-40 stock down 0.6%

Shares of WDFC opened at $199.09 on Wednesday. WD-40 has a 12-month low of $163.61 and a 12-month high of $255.31. The company has a market capitalization of $2.71 billion, a PE ratio of 44.94 and a beta of -0.23. The stock has a 50-day moving average of $187.66 and a 200-day moving average of $190.72. The company has a quick ratio of 1.51, a current ratio of 2.51 and a debt ratio of 0.56.

WD-40 (NASDAQ: WDFC – Get Rating) last released its quarterly 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 for the quarter, versus analyst estimates of $142.80 million. In the same quarter last year, the company earned earnings per share of $1.52. The company’s quarterly revenue was down 9.3% from the same quarter last year. On average, stock analysts predict WD-40 to post an EPS of 5.08 for the current year.

WD-40 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 29. Investors 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 1.57%. The distribution rate of WD-40 is 70.43%.

Insider Activity at WD-40

Separately, director Eric Etchart purchased 500 shares of the company in a transaction that took place on Thursday, August 4. The shares were acquired at an average cost of $177.60 per share, for a total transaction of $88,800.00. Following the completion of the purchase, the director now owns 5,692 shares of the company, valued at approximately $1,010,899.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. 1.33% of the shares are currently held by insiders.

Changes to analyst ratings

A number of equity research analysts have published WDFC stock reports. DA Davidson upgraded WD-40 from a “neutral” rating to a “buy” rating and set a target price of $205.00 for the company in a Monday, July 18 research report. TheStreet downgraded WD-40 from a “b-” rating to a “c+” rating in a Friday, July 8 report. Finally, BWS Financial assumed a hedge on WD-40 in a Thursday July 14 report. They set a “sell” rating and a price target of $88.00 for the company.

WD-40 Profile

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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.

Further reading

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

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