SG Americas Securities LLC Reduces Stake in WD-40 Company (NASDAQ:WDFC)
SG Americas Securities LLC cut its position in WD-40 Company (NASDAQ:WDFC) by 22.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,205 shares of the specialty chemicals company’s stock after selling 356 shares during the period. SG Americas Securities LLC’s holdings in WD-40 were worth $131,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in WDFC. Glen Harbor Capital Management LLC increased its stake in shares of WD-40 by 2.4% in the first quarter. Glen Harbor Capital Management LLC now owns 946 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 22 shares in the last quarter. Elkfork Partners LLC increased its stake in shares of WD-40 by 2.4% in the first quarter. Elkfork Partners LLC now owns 1,204 shares of the specialty chemicals company’s stock worth $131,000 after buying an additional 28 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of WD-40 during the first quarter worth approximately $132,000. Meadow Creek Investment Management LLC increased its stake in shares of WD-40 by 2.4% in the first quarter. Meadow Creek Investment Management LLC now owns 1,462 shares of the specialty chemicals company’s stock worth $159,000 after buying an additional 34 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of WD-40 by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 1,560 shares of the specialty chemicals company’s stock worth $169,000 after buying an additional 20 shares in the last quarter. Institutional investors own 82.11% of the company’s stock.
WD-40 Company (NASDAQ WDFC) traded down 0.24% during midday trading on Tuesday, hitting $105.40. The stock had a trading volume of 45,277 shares. The company has a 50-day moving average of $108.65 and a 200-day moving average of $107.33. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 28.48 and a beta of 0.73. WD-40 Company has a 1-year low of $100.60 and a 1-year high of $121.10.
WD-40 (NASDAQ:WDFC) last announced its quarterly earnings results on Monday, July 10th. The specialty chemicals company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.11. The company had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $99.09 million. WD-40 had a return on equity of 39.64% and a net margin of 13.85%. WD-40’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 EPS. Equities research analysts forecast that WD-40 Company will post $3.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 21st were issued a dividend of $0.49 per share. The ex-dividend date was Wednesday, July 19th. This represents a $1.96 dividend on an annualized basis and a yield of 1.86%. WD-40’s payout ratio is currently 52.97%.
Several equities analysts recently commented on the company. Zacks Investment Research upgraded WD-40 from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Thursday, July 13th. B. Riley reiterated a “neutral” rating and issued a $116.00 price objective on shares of WD-40 in a research report on Thursday, April 13th. BidaskClub upgraded WD-40 from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Finally, FBR & Co reiterated a “marketperform” rating on shares of WD-40 in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. WD-40 currently has a consensus rating of “Hold” and a consensus price target of $111.50.
In other WD-40 news, VP Jay Rembolt sold 618 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $110.00, for a total transaction of $67,980.00. Following the completion of the sale, the vice president now directly owns 36,837 shares in the company, valued at approximately $4,052,070. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 1,854 shares of company stock valued at $203,928. Company insiders own 3.90% of the company’s stock.
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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