DAVENPORT & Co LLC Has $1.41 Million Holdings in WD-40 Company $WDFC

DAVENPORT & Co LLC reduced its position in WD-40 Company (NASDAQ:WDFC) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,201 shares of the specialty chemicals company’s stock after selling 67 shares during the period. DAVENPORT & Co LLC’s holdings in WD-40 were worth $1,414,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC increased its position in WD-40 by 0.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 568,302 shares of the specialty chemicals company’s stock worth $138,666,000 after purchasing an additional 4,672 shares during the last quarter. Alliancebernstein L.P. increased its position in WD-40 by 1,767.7% in the 1st quarter. Alliancebernstein L.P. now owns 448,180 shares of the specialty chemicals company’s stock worth $109,356,000 after purchasing an additional 424,183 shares during the last quarter. Geneva Capital Management LLC increased its position in WD-40 by 18.7% in the 1st quarter. Geneva Capital Management LLC now owns 248,197 shares of the specialty chemicals company’s stock worth $60,560,000 after purchasing an additional 39,137 shares during the last quarter. Invesco Ltd. increased its position in WD-40 by 122.0% in the 1st quarter. Invesco Ltd. now owns 162,181 shares of the specialty chemicals company’s stock worth $39,572,000 after purchasing an additional 89,120 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in WD-40 in the 1st quarter worth about $23,556,000. 91.52% of the stock is owned by institutional investors and hedge funds.

WD-40 Stock Performance

WDFC opened at $192.72 on Friday. The firm has a market capitalization of $2.61 billion, a P/E ratio of 30.35 and a beta of 0.09. The stock’s 50 day moving average price is $211.32 and its two-hundred day moving average price is $225.12. The company has a quick ratio of 2.02, a current ratio of 2.84 and a debt-to-equity ratio of 0.33. WD-40 Company has a 12-month low of $190.67 and a 12-month high of $292.36.

WD-40 (NASDAQ:WDFC) last released its earnings results on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share (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 last year, the firm posted $1.46 EPS. The company’s revenue was up 1.2% on a year-over-year basis. On average, equities analysts forecast that WD-40 Company will post 5.42 earnings per share for the current year.

WD-40 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 20th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.0%. WD-40’s dividend payout ratio is currently 59.21%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WDFC shares. DA Davidson lowered their price objective on WD-40 from $322.00 to $300.00 and set a “buy” rating on the stock in a report on Friday, July 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of WD-40 in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $290.00.

WD-40 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.