Comerica Bank Sells 211 Shares of WD-40 (NASDAQ:WDFC)

Comerica Bank cut its stake in shares of WD-40 (NASDAQ:WDFC) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,558 shares of the specialty chemicals company’s stock after selling 211 shares during the quarter. Comerica Bank’s holdings in WD-40 were worth $6,930,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of WD-40 by 309.7% in the third quarter. Barclays PLC now owns 37,094 shares of the specialty chemicals company’s stock worth $9,566,000 after purchasing an additional 28,039 shares during the period. JPMorgan Chase & Co. boosted its holdings in WD-40 by 24.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 53,950 shares of the specialty chemicals company’s stock worth $13,913,000 after buying an additional 10,711 shares during the period. GAMMA Investing LLC increased its stake in WD-40 by 23.1% in the 4th quarter. GAMMA Investing LLC now owns 400 shares of the specialty chemicals company’s stock worth $97,000 after buying an additional 75 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in WD-40 by 19.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 2,757 shares of the specialty chemicals company’s stock valued at $669,000 after acquiring an additional 450 shares during the period. Finally, Inspire Investing LLC lifted its position in shares of WD-40 by 3.8% in the fourth quarter. Inspire Investing LLC now owns 1,658 shares of the specialty chemicals company’s stock valued at $402,000 after acquiring an additional 61 shares in the last quarter. 91.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, DA Davidson raised WD-40 to a “strong-buy” rating in a research note on Monday, April 14th.

Insider Activity at WD-40

In other WD-40 news, CFO Sara Kathleen Hyzer bought 256 shares of the firm’s stock in a transaction dated Friday, April 11th. The shares were purchased at an average cost of $222.83 per share, for a total transaction of $57,044.48. Following the transaction, the chief financial officer now owns 4,072 shares of the company’s stock, valued at $907,363.76. This represents a 6.71 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.75% of the stock is owned by insiders.

WD-40 Stock Performance

Shares of NASDAQ WDFC opened at $231.64 on Monday. The company has a market cap of $3.14 billion, a P/E ratio of 44.38 and a beta of 0.03. WD-40 has a 52-week low of $208.00 and a 52-week high of $292.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.75 and a current ratio of 2.44. The firm’s fifty day moving average is $233.30 and its two-hundred day moving average is $246.42.

WD-40 (NASDAQ:WDFC) last issued its earnings results on Tuesday, April 8th. The specialty chemicals company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.05. WD-40 had a return on equity of 31.68% and a net margin of 11.78%. The firm had revenue of $146.10 million for the quarter, compared to analysts’ expectations of $154.40 million. During the same period in the previous year, the firm posted $1.14 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. As a group, analysts anticipate that WD-40 will post 5.42 EPS for the current fiscal year.

WD-40 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 18th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Thursday, April 17th. WD-40’s dividend payout ratio is presently 59.97%.

WD-40 Company Profile

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.