WD-40 Company $WDFC Stake Lifted by GCQ FUNDS MANAGEMENT PTY Ltd

GCQ FUNDS MANAGEMENT PTY Ltd boosted its holdings in shares of WD-40 Company (NASDAQ:WDFC) by 89.2% during the 4th quarter, HoldingsChannel reports. The firm owned 221,225 shares of the specialty chemicals company’s stock after purchasing an additional 104,282 shares during the period. WD-40 accounts for approximately 6.0% of GCQ FUNDS MANAGEMENT PTY Ltd’s investment portfolio, making the stock its 8th biggest holding. GCQ FUNDS MANAGEMENT PTY Ltd’s holdings in WD-40 were worth $43,559,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sequoia Financial Advisors LLC grew its position in WD-40 by 30.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,725 shares of the specialty chemicals company’s stock worth $537,000 after purchasing an additional 635 shares during the last quarter. Garner Asset Management Corp acquired a new stake in shares of WD-40 in the 4th quarter worth $61,000. Horizon Investments LLC lifted its stake in shares of WD-40 by 14.7% in the 4th quarter. Horizon Investments LLC now owns 3,034 shares of the specialty chemicals company’s stock worth $594,000 after acquiring an additional 388 shares during the period. Laurel Wealth Advisors LLC acquired a new stake in shares of WD-40 in the 4th quarter worth $133,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of WD-40 by 14.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 11,036 shares of the specialty chemicals company’s stock worth $2,173,000 after acquiring an additional 1,378 shares during the period. 91.52% of the stock is owned by hedge funds and other institutional investors.

WD-40 Stock Down 0.8%

WDFC stock opened at $208.05 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.98 and a current ratio of 2.83. WD-40 Company has a one year low of $175.38 and a one year high of $253.24. The company has a fifty day moving average of $219.06 and a 200-day moving average of $211.90. The stock has a market capitalization of $2.80 billion, a PE ratio of 35.38 and a beta of 0.33.

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

WD-40 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Friday, April 17th were paid a $1.02 dividend. The ex-dividend date was Friday, April 17th. This represents a $4.08 annualized dividend and a dividend yield of 2.0%. WD-40’s dividend payout ratio (DPR) is 69.39%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of WD-40 in a research note on Wednesday, January 21st. DA Davidson reduced their target price on shares of WD-40 from $300.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Finally, William Blair assumed coverage on shares of WD-40 in a research note on Monday, April 6th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.00.

About WD-40

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.