Public Sector Pension Investment Board Cuts Stock Holdings in WD-40 (NASDAQ:WDFC)

Public Sector Pension Investment Board decreased its position in shares of WD-40 (NASDAQ:WDFC) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,794 shares of the specialty chemicals company’s stock after selling 1,000 shares during the quarter. Public Sector Pension Investment Board owned 0.21% of WD-40 worth $7,425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in WDFC. Russell Investments Group Ltd. grew its holdings in shares of WD-40 by 1,648.9% during the first quarter. Russell Investments Group Ltd. now owns 822 shares of the specialty chemicals company’s stock valued at $208,000 after buying an additional 775 shares during the last quarter. Advisors Asset Management Inc. bought a new position in WD-40 during the first quarter valued at approximately $43,000. Price T Rowe Associates Inc. MD lifted its position in WD-40 by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,453 shares of the specialty chemicals company’s stock valued at $2,395,000 after purchasing an additional 298 shares during the period. DekaBank Deutsche Girozentrale bought a new position in WD-40 during the first quarter valued at approximately $34,000. Finally, CWM LLC lifted its position in WD-40 by 41.2% during the second quarter. CWM LLC now owns 463 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 135 shares during the period. Hedge funds and other institutional investors own 91.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of WD-40 from $250.00 to $280.00 and gave the company a “hold” rating in a research report on Friday, October 18th. DA Davidson restated a “buy” rating and set a $322.00 price objective on shares of WD-40 in a research report on Monday, November 18th.

Insiders Place Their Bets

In other news, Director William B. Noble sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $289.70, for a total transaction of $289,700.00. Following the sale, the director now directly owns 7,999 shares in the company, valued at $2,317,310.30. This trade represents a 11.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.75% of the company’s stock.

WD-40 Stock Up 1.0 %

WDFC opened at $277.09 on Friday. The company has a current ratio of 2.47, a quick ratio of 1.70 and a debt-to-equity ratio of 0.37. WD-40 has a 1-year low of $211.03 and a 1-year high of $292.36. The company has a market capitalization of $3.76 billion, a PE ratio of 54.23 and a beta of -0.08. The firm’s 50 day simple moving average is $267.30 and its two-hundred day simple moving average is $250.52.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Thursday, October 17th. The specialty chemicals company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.11). WD-40 had a return on equity of 31.53% and a net margin of 11.79%. The business had revenue of $156.00 million during the quarter, compared to the consensus estimate of $149.20 million. During the same quarter in the previous year, the business posted $1.21 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. As a group, equities analysts forecast that WD-40 will post 5.36 EPS for the current year.

WD-40 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 18th were given a $0.88 dividend. The ex-dividend date was Friday, October 18th. This represents a $3.52 annualized dividend and a yield of 1.27%. WD-40’s payout ratio is presently 68.88%.

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.