Royce & Associates LP Purchases 13,705 Shares of WD-40 Company $WDFC

Royce & Associates LP increased its position in WD-40 Company (NASDAQ:WDFC) by 7.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 199,395 shares of the specialty chemicals company’s stock after purchasing an additional 13,705 shares during the period. Royce & Associates LP owned 1.49% of WD-40 worth $40,272,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in WDFC. Versant Capital Management Inc lifted its position in WD-40 by 13.7% during the second quarter. Versant Capital Management Inc now owns 474 shares of the specialty chemicals company’s stock valued at $115,000 after buying an additional 57 shares during the period. PNC Financial Services Group Inc. grew its position in shares of WD-40 by 2.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,659 shares of the specialty chemicals company’s stock worth $542,000 after buying an additional 66 shares during the period. Cim Investment Management Inc. grew its position in shares of WD-40 by 7.3% in the 2nd quarter. Cim Investment Management Inc. now owns 1,255 shares of the specialty chemicals company’s stock worth $306,000 after buying an additional 85 shares during the period. Guidance Capital Inc. grew its position in shares of WD-40 by 3.0% in the 3rd quarter. Guidance Capital Inc. now owns 3,185 shares of the specialty chemicals company’s stock worth $643,000 after buying an additional 92 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake in WD-40 by 4.0% during the first quarter. Sequoia Financial Advisors LLC now owns 2,835 shares of the specialty chemicals company’s stock worth $578,000 after acquiring an additional 110 shares in the last quarter. Institutional investors own 91.52% of the company’s stock.

Wall Street Analysts Forecast Growth

WDFC has been the topic of a number of recent research reports. Weiss Ratings cut shares of WD-40 from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, September 18th. Zacks Research downgraded shares of WD-40 from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $305.00.

WD-40 Stock Up 1.3%

NASDAQ:WDFC traded up $2.94 during trading hours on Friday, reaching $223.40. 66,942 shares of the company traded hands, compared to its average volume of 148,593. The business’s 50-day moving average price is $206.60 and its two-hundred day moving average price is $220.07. The stock has a market capitalization of $2.99 billion, a P/E ratio of 36.74 and a beta of 0.27. WD-40 Company has a 1 year low of $175.38 and a 1 year high of $298.90. The company has a current ratio of 2.57, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31.

WD-40 (NASDAQ:WDFC) last released its earnings results on Wednesday, October 21st. The specialty chemicals company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.07). WD-40 had a return on equity of 30.84% and a net margin of 11.97%. The company had revenue of $176.78 million during the quarter, compared to analysts’ expectations of $172.07 million. During the same period in the prior year, the company posted $1.56 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. Analysts predict that WD-40 Company will post 6.55 earnings per share for the current year.

WD-40 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Monday, October 19th were given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, October 19th. WD-40’s dividend payout ratio is 67.11%.

WD-40 Company Profile

WD-40 Company develops and markets maintenance, cleaning and personal-care products for consumers and industrial users. Its best-known product is WD-40 Multi-Use Product, which is used to protect metal from corrosion, displace moisture, lubricate and loosen stuck parts. The company also sells products under brands including WD-40 Specialist and 3-IN-ONE. Founded in 1953 as Rocket Chemical Company, the business initially developed products for the aerospace industry. Its name later changed to WD-40 Company, reflecting the formula that became its signature product.