Stonebridge Capital Management Inc. Takes $227,000 Position in WD-40 (WDFC)

Stonebridge Capital Management Inc. acquired a new stake in WD-40 (NASDAQ:WDFC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,500 shares of the specialty chemicals company’s stock, valued at approximately $227,000.

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. lifted its position in WD-40 by 2.3% in the first quarter. BlackRock Inc. now owns 1,784,147 shares of the specialty chemicals company’s stock valued at $234,970,000 after purchasing an additional 40,530 shares during the period. Neuberger Berman Group LLC lifted its position in WD-40 by 4.3% in the first quarter. Neuberger Berman Group LLC now owns 687,245 shares of the specialty chemicals company’s stock valued at $90,510,000 after purchasing an additional 28,280 shares during the period. Renaissance Technologies LLC lifted its position in WD-40 by 4.4% in the fourth quarter. Renaissance Technologies LLC now owns 614,585 shares of the specialty chemicals company’s stock valued at $72,521,000 after purchasing an additional 25,800 shares during the period. VGI PARTNERS PTY Ltd lifted its position in WD-40 by 0.7% in the first quarter. VGI PARTNERS PTY Ltd now owns 360,451 shares of the specialty chemicals company’s stock valued at $47,471,000 after purchasing an additional 2,495 shares during the period. Finally, Wells Fargo & Company MN lifted its position in WD-40 by 2.7% in the fourth quarter. Wells Fargo & Company MN now owns 204,788 shares of the specialty chemicals company’s stock valued at $24,165,000 after purchasing an additional 5,341 shares during the period. Hedge funds and other institutional investors own 85.15% of the company’s stock.

Shares of WDFC stock traded up $0.40 during midday trading on Friday, reaching $151.90. 1,561 shares of the company traded hands, compared to its average volume of 76,165. WD-40 has a 1-year low of $103.80 and a 1-year high of $151.70. The company has a current ratio of 3.65, a quick ratio of 3.04 and a debt-to-equity ratio of 0.99. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 40.98, a PEG ratio of 3.66 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 (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $101.30 million during the quarter, compared to the consensus estimate of $102.49 million. During the same period last year, the firm earned $0.87 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. sell-side analysts forecast that WD-40 will post 4.09 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, July 20th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, July 19th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.42%. WD-40’s payout ratio is 58.06%.

In related news, Director Daniel E. Pittard acquired 530 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The stock was purchased at an average cost of $132.65 per share, for a total transaction of $70,304.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven A. Brass sold 1,000 shares of WD-40 stock in a transaction that occurred on Friday, April 13th. The stock was sold at an average price of $130.83, for a total value of $130,830.00. Following the transaction, the insider now owns 5,211 shares of the company’s stock, valued at $681,755.13. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.

WDFC has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of WD-40 from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 21st. B. Riley reiterated a “neutral” rating and set a $135.00 price target (up from $125.00) on shares of WD-40 in a research report on Friday, April 6th. Zacks Investment Research downgraded shares of WD-40 from a “buy” rating to a “hold” rating in a research report on Thursday, June 7th. ValuEngine upgraded shares of WD-40 from a “hold” rating to a “buy” rating in a research report on Monday, June 11th. Finally, Jefferies Financial Group set a $120.00 price target on shares of WD-40 and gave the company a “hold” rating in a research report on Friday, April 6th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $128.75.

WD-40 Profile

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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Institutional Ownership by Quarter for WD-40 (NASDAQ:WDFC)

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