Teacher Retirement System of Texas lessened its holdings in shares of WD-40 (NASDAQ:WDFC) by 35.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,092 shares of the specialty chemicals company’s stock after selling 1,722 shares during the period. Teacher Retirement System of Texas’ holdings in WD-40 were worth $407,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in WDFC. SG Americas Securities LLC purchased a new position in shares of WD-40 during the first quarter valued at approximately $183,000. Allianz Asset Management GmbH purchased a new position in shares of WD-40 during the fourth quarter valued at approximately $200,000. First Trust Advisors LP purchased a new position in shares of WD-40 during the fourth quarter valued at approximately $242,000. LPL Financial LLC purchased a new position in shares of WD-40 during the fourth quarter valued at approximately $242,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of WD-40 by 61.5% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,956 shares of the specialty chemicals company’s stock valued at $258,000 after buying an additional 745 shares during the period. Institutional investors and hedge funds own 85.17% of the company’s stock.
WDFC has been the subject of several research analyst reports. BidaskClub raised shares of WD-40 from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 23rd. Jefferies Financial Group set a $120.00 price target on shares of WD-40 and gave the company a “hold” rating in a research note on Friday, April 6th. ValuEngine raised shares of WD-40 from a “hold” rating to a “buy” rating in a research note on Monday, June 11th. Zacks Investment Research downgraded shares of WD-40 from a “buy” rating to a “hold” rating in a research note on Thursday, June 7th. Finally, B. Riley reaffirmed a “neutral” rating and set a $135.00 price target (up previously from $125.00) on shares of WD-40 in a research note on Friday, April 6th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. WD-40 presently has a consensus rating of “Buy” and an average price target of $128.75.
In related news, insider Steven A. Brass sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, April 13th. The shares were sold at an average price of $130.83, for a total value of $130,830.00. Following the completion of the transaction, the insider now owns 5,211 shares of the company’s stock, valued at $681,755.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel E. Pittard acquired 530 shares of WD-40 stock in a transaction that occurred on Thursday, May 10th. The stock was acquired at an average cost of $132.65 per share, with a total value of $70,304.50. The disclosure for this purchase can be found here. Insiders own 3.90% of the company’s stock.
WD-40 opened at $150.60 on Friday, Marketbeat.com reports. The company has a quick ratio of 3.04, a current ratio of 3.65 and a debt-to-equity ratio of 0.99. WD-40 has a fifty-two week low of $103.80 and a fifty-two week high of $151.35. The company has a market cap of $2.06 billion, a PE ratio of 40.48, a P/E/G ratio of 3.62 and a beta of 0.55.
WD-40 (NASDAQ:WDFC) last posted its quarterly earnings results on Thursday, April 5th. The specialty chemicals company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.10. WD-40 had a net margin of 14.29% and a return on equity of 39.25%. The firm had revenue of $101.30 million during the quarter, compared to the consensus estimate of $102.49 million. During the same quarter in the previous year, the firm posted $0.87 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. sell-side analysts predict that WD-40 will post 4.09 EPS for the current year.
WD-40 Company engages in the development and sale of maintenance products, and homecare and cleaning products. It 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; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand name; and bicycle maintenance products under the WD-40 Bike brand name comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products that are designed for avid and recreational cyclists, bike enthusiasts, and mechanics.
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