Quest Partners LLC Lowers Holdings in WD-40 (NASDAQ:WDFC)

Quest Partners LLC reduced its position in shares of WD-40 (NASDAQ:WDFC) by 61.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 966 shares of the specialty chemicals company’s stock after selling 1,525 shares during the period. Quest Partners LLC’s holdings in WD-40 were worth $249,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WDFC. Russell Investments Group Ltd. grew its position in WD-40 by 1,648.9% during the first quarter. Russell Investments Group Ltd. now owns 822 shares of the specialty chemicals company’s stock worth $208,000 after buying an additional 775 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of WD-40 by 4.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 13,794 shares of the specialty chemicals company’s stock valued at $3,494,000 after acquiring an additional 598 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in shares of WD-40 during the first quarter worth about $43,000. Price T Rowe Associates Inc. MD increased its position in shares of WD-40 by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,453 shares of the specialty chemicals company’s stock worth $2,395,000 after purchasing an additional 298 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in WD-40 in the first quarter valued at approximately $704,000. 91.52% of the stock is currently owned by hedge funds and other institutional investors.

WD-40 Price Performance

Shares of WD-40 stock opened at $280.27 on Wednesday. The business’s 50-day moving average price is $266.00 and its 200-day moving average price is $249.54. The firm has a market capitalization of $3.80 billion, a PE ratio of 54.85 and a beta of -0.08. WD-40 has a 12 month low of $211.03 and a 12 month high of $292.36. The company has a current ratio of 2.47, a quick ratio of 1.70 and a debt-to-equity ratio of 0.37.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings results on Thursday, October 17th. The specialty chemicals company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.11). The business 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%. During the same period last year, the business posted $1.21 earnings per share. The company’s revenue was up 11.0% compared to the same quarter last year. Sell-side analysts forecast that WD-40 will post 5.36 EPS for the current fiscal year.

WD-40 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 18th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Friday, October 18th. WD-40’s dividend payout ratio is presently 68.88%.

Analyst Ratings Changes

A number of research firms have commented on WDFC. Jefferies Financial Group boosted their price target on shares of WD-40 from $250.00 to $280.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. DA Davidson reiterated a “buy” rating and issued a $322.00 target price on shares of WD-40 in a research report on Monday, November 18th.

Insider Buying and Selling at WD-40

In other news, Director William B. Noble sold 1,000 shares of the business’s 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 sale, the director now owns 7,999 shares of the company’s stock, valued at approximately $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 accessible through this link. Company insiders own 0.75% of the company’s stock.

WD-40 Company Profile

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.