Neuberger Berman Group LLC Acquires 127,744 Shares of WD-40 Company (WDFC)
Neuberger Berman Group LLC raised its stake in WD-40 Company (NASDAQ:WDFC) by 27.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 591,124 shares of the specialty chemicals company’s stock after buying an additional 127,744 shares during the period. Neuberger Berman Group LLC owned 4.22% of WD-40 worth $65,231,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of WDFC. BlackRock Inc. increased its position in WD-40 by 129,764.4% in the first quarter. BlackRock Inc. now owns 1,698,626 shares of the specialty chemicals company’s stock valued at $185,067,000 after buying an additional 1,697,318 shares during the last quarter. BB&T Securities LLC increased its position in WD-40 by 300.5% in the first quarter. BB&T Securities LLC now owns 73,755 shares of the specialty chemicals company’s stock valued at $8,035,000 after buying an additional 55,340 shares during the last quarter. Vanguard Group Inc. increased its position in WD-40 by 4.5% in the first quarter. Vanguard Group Inc. now owns 1,225,857 shares of the specialty chemicals company’s stock valued at $133,557,000 after buying an additional 52,896 shares during the last quarter. Aberdeen Asset Management PLC UK increased its position in WD-40 by 17.0% in the first quarter. Aberdeen Asset Management PLC UK now owns 333,099 shares of the specialty chemicals company’s stock valued at $36,291,000 after buying an additional 48,511 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its position in WD-40 by 23.9% in the second quarter. Conestoga Capital Advisors LLC now owns 192,200 shares of the specialty chemicals company’s stock valued at $21,209,000 after buying an additional 37,015 shares during the last quarter. Hedge funds and other institutional investors own 80.60% of the company’s stock.
Shares of WD-40 Company (WDFC) opened at 109.40 on Friday. The firm’s 50-day moving average is $106.61 and its 200 day moving average is $107.50. WD-40 Company has a 12 month low of $100.60 and a 12 month high of $121.10. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 29.56 and a beta of 0.73.
WD-40 (NASDAQ:WDFC) last announced its quarterly earnings data on Monday, July 10th. The specialty chemicals company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. WD-40 had a net margin of 13.85% and a return on equity of 39.64%. The business had revenue of $98.20 million during the quarter, compared to analyst estimates of $99.09 million. During the same period last year, the firm posted $0.88 EPS. The company’s revenue was up 1.8% on a year-over-year basis. Equities analysts expect that WD-40 Company will post $3.68 EPS for the current year.
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Several equities analysts have recently weighed in on WDFC shares. Zacks Investment Research upgraded shares of WD-40 from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a research note on Tuesday, May 30th. BidaskClub upgraded shares of WD-40 from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Finally, FBR & Co restated a “marketperform” rating on shares of WD-40 in a research report on Tuesday, July 11th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $111.75.
In other WD-40 news, VP Jay Rembolt sold 615 shares of the stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $112.00, for a total transaction of $68,880.00. Following the completion of the sale, the vice president now directly owns 37,219 shares of the company’s stock, valued at approximately $4,168,528. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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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