Messner & Smith Theme Value Investment Management Ltd. CA trimmed its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 47.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 10,742 shares of the data storage provider’s stock after selling 9,592 shares during the period. Western Digital Corporation makes up about 1.7% of Messner & Smith Theme Value Investment Management Ltd. CA’s investment portfolio, making the stock its 25th biggest position. Messner & Smith Theme Value Investment Management Ltd. CA’s holdings in Western Digital Corporation were worth $951,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. American Beacon Advisors Inc. bought a new position in Western Digital Corporation during the 1st quarter valued at about $111,000. Harbour Capital Advisors LLC bought a new position in Western Digital Corporation during the 1st quarter valued at about $117,000. SRS Capital Advisors Inc. lifted its holdings in Western Digital Corporation by 26.7% during the 1st quarter. SRS Capital Advisors Inc. now owns 1,453 shares of the data storage provider’s stock valued at $119,000 after purchasing an additional 306 shares during the last quarter. Ruggie Capital Group bought a new position in Western Digital Corporation during the 1st quarter valued at about $127,000. Finally, Quantbot Technologies LP bought a new position in Western Digital Corporation during the 2nd quarter valued at about $135,000. 82.42% of the stock is owned by institutional investors.

Shares of Western Digital Corporation (NASDAQ WDC) traded up 1.16% during mid-day trading on Friday, hitting $86.48. 3,152,283 shares of the stock were exchanged. Western Digital Corporation has a 12-month low of $52.10 and a 12-month high of $95.77. The stock has a market capitalization of $25.50 billion, a P/E ratio of 64.54 and a beta of 1.21. The stock’s 50 day moving average price is $86.12 and its 200-day moving average price is $86.39.

Western Digital Corporation (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.42. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the firm posted $0.79 EPS. Western Digital Corporation’s revenue was up 38.5% compared to the same quarter last year. On average, equities research analysts expect that Western Digital Corporation will post $12.50 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Thursday, September 28th. Western Digital Corporation’s payout ratio is currently 156.25%.

Several equities analysts recently issued reports on the stock. UBS AG reissued a “neutral” rating and set a $92.00 price target (up from $90.00) on shares of Western Digital Corporation in a report on Wednesday, June 28th. Jefferies Group LLC reissued a “hold” rating and set a $90.00 price target on shares of Western Digital Corporation in a report on Friday, August 18th. J P Morgan Chase & Co reissued an “overweight” rating on shares of Western Digital Corporation in a report on Tuesday, August 1st. BidaskClub downgraded shares of Western Digital Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Finally, Citigroup Inc. set a $110.00 price target on shares of Western Digital Corporation and gave the company a “buy” rating in a report on Monday, August 21st. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $111.34.

In related news, CFO Mark P. Long sold 17,028 shares of Western Digital Corporation stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $93.84, for a total value of $1,597,907.52. Following the completion of the sale, the chief financial officer now owns 53,551 shares of the company’s stock, valued at approximately $5,025,225.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Srinivasan Sivaram sold 16,049 shares of Western Digital Corporation stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $85.06, for a total transaction of $1,365,127.94. The disclosure for this sale can be found here. In the last three months, insiders sold 144,295 shares of company stock valued at $12,689,056. 0.46% of the stock is currently owned by insiders.

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About Western Digital Corporation

Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).

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Institutional Ownership by Quarter for Western Digital Corporation (NASDAQ:WDC)

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