Bank of New York Mellon Corp reduced its stake in WD-40 (NASDAQ:WDFC) by 2.5% during the fourth quarter, Holdings Channel reports. The fund owned 221,457 shares of the specialty chemicals company’s stock after selling 5,793 shares during the quarter. Bank of New York Mellon Corp’s holdings in WD-40 were worth $26,132,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in WD-40 in the 3rd quarter valued at $118,000. First Trust Advisors LP bought a new stake in WD-40 in the 4th quarter valued at $242,000. Bredin Investment LLC bought a new stake in WD-40 in the 4th quarter valued at $554,000. GSA Capital Partners LLP bought a new stake in WD-40 in the 3rd quarter valued at $568,000. Finally, Teacher Retirement System of Texas bought a new stake in WD-40 in the 4th quarter valued at $568,000. Institutional investors own 86.04% of the company’s stock.
In other WD-40 news, insider Michael L. Freeman sold 4,861 shares of WD-40 stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $119.58, for a total value of $581,278.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Geoffrey Holdsworth sold 1,690 shares of WD-40 stock in a transaction on Monday, January 29th. The stock was sold at an average price of $126.85, for a total transaction of $214,376.50. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
WDFC has been the topic of a number of research reports. Zacks Investment Research upgraded shares of WD-40 from a “hold” rating to a “buy” rating and set a $138.00 price target on the stock in a report on Saturday, January 13th. BidaskClub downgraded shares of WD-40 from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, B. Riley reissued a “hold” rating and issued a $125.00 price objective on shares of WD-40 in a research note on Thursday, January 18th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $123.75.
WD-40 stock opened at $133.70 on Monday. WD-40 has a 52 week low of $100.60 and a 52 week high of $134.40. The company has a market cap of $1,868.32, a price-to-earnings ratio of 35.18, a price-to-earnings-growth ratio of 3.40 and a beta of 0.57. The company has a quick ratio of 3.29, a current ratio of 3.90 and a debt-to-equity ratio of 1.05.
WD-40 (NASDAQ:WDFC) last issued its quarterly earnings data on Tuesday, January 9th. The specialty chemicals company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. WD-40 had a net margin of 13.84% and a return on equity of 39.23%. The business had revenue of $97.60 million during the quarter, compared to analysts’ expectations of $93.00 million. During the same period last year, the company posted $0.82 EPS. The business’s revenue was up 9.4% on a year-over-year basis. sell-side analysts anticipate that WD-40 will post 3.94 earnings per share for the current fiscal year.
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WD-40 Company Profile
WD-40 Company is a global company engaged in developing and selling products, which solve problems in workshops, factories and homes. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia-Pacific. The Company’s Americas segment includes the United States, Canada and Latin America.
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