UBS Group AG Decreases Position in WD-40 Company $WDFC

UBS Group AG cut its stake in WD-40 Company (NASDAQ:WDFC) by 18.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,118 shares of the specialty chemicals company’s stock after selling 9,432 shares during the quarter. UBS Group AG owned approximately 0.30% of WD-40 worth $8,096,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP lifted its stake in WD-40 by 1,462.5% in the 3rd quarter. Quarry LP now owns 125 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 117 shares in the last quarter. Fortitude Family Office LLC lifted its stake in WD-40 by 4,133.3% in the 4th quarter. Fortitude Family Office LLC now owns 127 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 124 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in WD-40 by 207.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 157 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 106 shares in the last quarter. Bessemer Group Inc. lifted its stake in WD-40 by 340.5% in the 3rd quarter. Bessemer Group Inc. now owns 163 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 126 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in WD-40 by 400.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 215 shares of the specialty chemicals company’s stock worth $42,000 after purchasing an additional 172 shares in the last quarter. 91.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WDFC has been the topic of a number of research reports. DA Davidson decreased their target price on shares of WD-40 from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. William Blair initiated coverage on shares of WD-40 in a research note on Monday, April 6th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of WD-40 in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, WD-40 has a consensus rating of “Moderate Buy” and an average price target of $270.00.

WD-40 Stock Performance

WDFC opened at $201.37 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.83 and a quick ratio of 1.98. The company’s 50 day simple moving average is $214.41 and its two-hundred day simple moving average is $212.08. WD-40 Company has a 1-year low of $175.38 and a 1-year high of $253.24. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 34.25 and a beta of 0.33.

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

WD-40 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Friday, April 17th were issued a dividend of $1.02 per share. The ex-dividend date was Friday, April 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.0%. WD-40’s dividend payout ratio (DPR) is currently 69.39%.

WD-40 Profile

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.