South Dakota Investment Council Takes $463,000 Position in WD-40 Company (WDFC)
South Dakota Investment Council acquired a new stake in WD-40 Company (NASDAQ:WDFC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,200 shares of the specialty chemicals company’s stock, valued at approximately $463,000.
Several other large investors also recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in shares of WD-40 by 48.2% in the second quarter. Wells Fargo & Company MN now owns 194,866 shares of the specialty chemicals company’s stock valued at $21,504,000 after acquiring an additional 63,370 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in WD-40 by 12.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 526,508 shares of the specialty chemicals company’s stock worth $58,101,000 after buying an additional 58,623 shares during the period. Eagle Asset Management Inc. lifted its position in WD-40 by 59.9% during the second quarter. Eagle Asset Management Inc. now owns 40,364 shares of the specialty chemicals company’s stock worth $4,454,000 after buying an additional 15,123 shares during the period. Neuberger Berman Group LLC lifted its position in WD-40 by 27.6% during the second quarter. Neuberger Berman Group LLC now owns 591,124 shares of the specialty chemicals company’s stock worth $65,231,000 after buying an additional 127,744 shares during the period. Finally, Bridge City Capital LLC purchased a new position in WD-40 during the second quarter worth about $1,481,000. Institutional investors and hedge funds own 80.60% of the company’s stock.
Several research firms recently weighed in on WDFC. Zacks Investment Research upgraded WD-40 from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Friday, September 1st. BidaskClub upgraded WD-40 from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, FBR & Co reiterated a “marketperform” rating on shares of WD-40 in a research report on Tuesday, July 11th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $111.75.
In related news, VP Jay Rembolt sold 615 shares of WD-40 stock in a transaction on Monday, June 19th. The stock was sold at an average price of $112.00, for a total transaction of $68,880.00. Following the completion of the sale, the vice president now owns 37,219 shares of the company’s stock, valued at $4,168,528. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.90% of the stock is currently owned by company insiders.
Shares of WD-40 Company (WDFC) opened at 111.05 on Friday. The firm’s 50-day moving average price is $106.88 and its 200 day moving average price is $107.39. WD-40 Company has a 52 week low of $100.60 and a 52 week high of $119.90. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 30.01 and a beta of 0.73.
WD-40 (NASDAQ:WDFC) last released its quarterly earnings data on Monday, July 10th. The specialty chemicals company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. The firm had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $99.09 million. WD-40 had a return on equity of 39.64% and a net margin of 13.85%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 earnings per share. On average, analysts anticipate that WD-40 Company will post $3.68 EPS for the current year.
WD-40 Company is a global company engaged in developing and selling products, which solve problems in workshops, factories and homes. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia-Pacific. The Company’s Americas segment includes the United States, Canada and Latin America.
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