2,011 Shares in WD-40 Company $WDFC Bought by Bayforest Capital Ltd

Bayforest Capital Ltd bought a new position in shares of WD-40 Company (NASDAQ:WDFC) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,011 shares of the specialty chemicals company’s stock, valued at approximately $491,000.

Other large investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its holdings in WD-40 by 36.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,830 shares of the specialty chemicals company’s stock valued at $447,000 after acquiring an additional 491 shares during the last quarter. KBC Group NV boosted its holdings in shares of WD-40 by 8.9% in the 1st quarter. KBC Group NV now owns 597 shares of the specialty chemicals company’s stock worth $146,000 after purchasing an additional 49 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in WD-40 by 15.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,789 shares of the specialty chemicals company’s stock valued at $1,168,000 after acquiring an additional 645 shares during the last quarter. GAMMA Investing LLC lifted its stake in WD-40 by 17.0% in the first quarter. GAMMA Investing LLC now owns 468 shares of the specialty chemicals company’s stock worth $114,000 after purchasing an additional 68 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in WD-40 by 37.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,299 shares of the specialty chemicals company’s stock valued at $563,000 after acquiring an additional 627 shares during the period. 91.52% of the stock is owned by hedge funds and other institutional investors.

WD-40 Price Performance

NASDAQ WDFC opened at $215.17 on Wednesday. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 33.89 and a beta of 0.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.84 and a quick ratio of 2.02. The stock’s fifty day moving average price is $220.62 and its 200 day moving average price is $230.74. WD-40 Company has a 1 year low of $208.00 and a 1 year high of $292.36.

WD-40 (NASDAQ:WDFC) last issued its earnings results on Thursday, July 10th. The specialty chemicals company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.14. WD-40 had a return on equity of 31.23% and a net margin of 14.13%.The firm had revenue of $156.92 million for the quarter, compared to analyst estimates of $160.60 million. During the same quarter in the prior year, the firm earned $1.46 earnings per share. WD-40’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities research analysts forecast that WD-40 Company will post 5.42 earnings per share for the current year.

WD-40 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 18th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, July 18th. WD-40’s payout ratio is 59.21%.

Analysts Set New Price Targets

Separately, DA Davidson decreased their price target on shares of WD-40 from $322.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, July 11th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, WD-40 presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.00.

About WD-40

WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.