Meridian Wealth Management LLC lowered its position in WD-40 (NASDAQ:WDFC) by 62.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 460 shares of the specialty chemicals company’s stock after selling 750 shares during the quarter. Meridian Wealth Management LLC’s holdings in WD-40 were worth $73,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of WDFC. BlackRock Inc. raised its holdings in WD-40 by 2.4% in the 1st quarter. BlackRock Inc. now owns 2,045,376 shares of the specialty chemicals company’s stock valued at $346,569,000 after acquiring an additional 47,977 shares in the last quarter. Neuberger Berman Group LLC grew its position in WD-40 by 1.8% during the 1st quarter. Neuberger Berman Group LLC now owns 740,302 shares of the specialty chemicals company’s stock worth $125,437,000 after acquiring an additional 13,386 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in WD-40 by 4.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 489,634 shares of the specialty chemicals company’s stock worth $82,965,000 after acquiring an additional 23,083 shares during the last quarter. Acadian Asset Management LLC grew its position in WD-40 by 23.8% during the 1st quarter. Acadian Asset Management LLC now owns 307,345 shares of the specialty chemicals company’s stock worth $52,076,000 after acquiring an additional 59,158 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its position in WD-40 by 2.2% during the 1st quarter. Conestoga Capital Advisors LLC now owns 257,713 shares of the specialty chemicals company’s stock worth $43,667,000 after acquiring an additional 5,536 shares during the last quarter. Hedge funds and other institutional investors own 89.58% of the company’s stock.
A number of equities research analysts recently commented on WDFC shares. BidaskClub upgraded WD-40 from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research lowered WD-40 from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. Finally, DA Davidson set a $209.00 price target on WD-40 and gave the stock a “buy” rating in a research report on Monday, July 15th.
WD-40 (NASDAQ:WDFC) last released its earnings results on Tuesday, July 9th. The specialty chemicals company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The business had revenue of $114.00 million for the quarter, compared to the consensus estimate of $109.40 million. WD-40 had a return on equity of 40.12% and a net margin of 16.45%. WD-40’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 earnings per share. Sell-side analysts anticipate that WD-40 will post 4.65 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 19th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, July 18th. WD-40’s payout ratio is currently 59.08%.
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 offers multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name for various consumer uses and industrial applications; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bicycle maintenance products comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics under the WD-40 Bike brand name.
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