DRH Investments Inc. Acquires Shares of 36,894 WD-40 Company $WDFC

DRH Investments Inc. acquired a new stake in shares of WD-40 Company (NASDAQ:WDFC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 36,894 shares of the specialty chemicals company’s stock, valued at approximately $7,264,000. WD-40 comprises 6.7% of DRH Investments Inc.’s holdings, making the stock its 9th biggest holding.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in WD-40 by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 1,650,622 shares of the specialty chemicals company’s stock valued at $325,007,000 after buying an additional 47,528 shares during the last quarter. Alliancebernstein L.P. raised its stake in WD-40 by 6.4% during the third quarter. Alliancebernstein L.P. now owns 533,738 shares of the specialty chemicals company’s stock valued at $105,467,000 after buying an additional 32,333 shares during the last quarter. Geode Capital Management LLC raised its stake in WD-40 by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 405,117 shares of the specialty chemicals company’s stock valued at $79,778,000 after buying an additional 2,072 shares during the last quarter. Ameriprise Financial Inc. raised its stake in WD-40 by 24.4% during the second quarter. Ameriprise Financial Inc. now owns 333,505 shares of the specialty chemicals company’s stock valued at $76,069,000 after buying an additional 65,423 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in WD-40 by 62.5% during the fourth quarter. First Trust Advisors LP now owns 289,954 shares of the specialty chemicals company’s stock valued at $57,092,000 after buying an additional 111,559 shares during the last quarter. Hedge funds and other institutional investors own 91.52% of the company’s stock.

WD-40 Stock Down 0.5%

WDFC stock opened at $223.01 on Friday. WD-40 Company has a 1-year low of $175.38 and a 1-year high of $253.24. The business has a fifty day moving average price of $209.67 and a 200-day moving average price of $213.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.83 and a quick ratio of 1.98. The stock has a market capitalization of $3.00 billion, a P/E ratio of 37.93 and a beta of 0.30.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings results on Thursday, April 9th. The specialty chemicals company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.11. WD-40 had a return on equity of 30.23% and a net margin of 12.57%.The firm had revenue of $161.67 million during the quarter, compared to analysts’ expectations of $154.90 million. During the same quarter in the previous year, the business earned $1.32 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. Equities analysts forecast that WD-40 Company will post 5.99 earnings per share for the current fiscal year.

WD-40 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Friday, April 17th were issued a $1.02 dividend. The ex-dividend date of this dividend was Friday, April 17th. This represents a $4.08 annualized dividend and a dividend yield of 1.8%. WD-40’s payout ratio is presently 69.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WDFC shares. DA Davidson decreased their price target on WD-40 from $300.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, April 10th. William Blair started coverage on WD-40 in a research note on Monday, April 6th. They issued an “outperform” rating for the company. Finally, Weiss Ratings cut WD-40 from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, WD-40 currently has a consensus rating of “Moderate Buy” and an average price target of $270.00.

WD-40 Company Profile

WD-40 Company, headquartered in San Diego, California, is best known for its flagship WD-40® Multi-Use Product, a water-displacing spray used for lubrication, rust prevention and cleaning. Since its introduction in 1953 by the Rocket Chemical Company, the WD-40 brand has become a household and industrial staple. Over time, the company has broadened its portfolio to include complementary maintenance and cleaning brands such as 3-IN-ONE® oils, Lava® hand cleaners, Solvol® solvents, Spot Shot® stain removers and X-14® cleaning products.

WD-40 Company distributes its products in more than 176 countries through retail, industrial and automotive channels.