Pittenger & Anderson Inc. Increases Stock Holdings in WD-40 (NASDAQ:WDFC)

Pittenger & Anderson Inc. lifted its stake in shares of WD-40 (NASDAQ:WDFC) by 10.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,060 shares of the specialty chemicals company’s stock after purchasing an additional 380 shares during the quarter. Pittenger & Anderson Inc.’s holdings in WD-40 were worth $1,047,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in shares of WD-40 in the 3rd quarter worth $29,000. DekaBank Deutsche Girozentrale purchased a new stake in WD-40 in the 1st quarter valued at approximately $34,000. Advisors Asset Management Inc. acquired a new position in WD-40 during the 1st quarter worth approximately $43,000. Covestor Ltd raised its stake in shares of WD-40 by 57.7% during the 1st quarter. Covestor Ltd now owns 216 shares of the specialty chemicals company’s stock worth $55,000 after buying an additional 79 shares in the last quarter. Finally, Blue Trust Inc. acquired a new stake in shares of WD-40 in the 2nd quarter valued at approximately $67,000. 91.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WDFC shares. DA Davidson increased their price objective on WD-40 from $303.00 to $322.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Jefferies Financial Group raised their price objective on shares of WD-40 from $250.00 to $280.00 and gave the company a “hold” rating in a research note on Friday, October 18th.

WD-40 Stock Performance

Shares of WDFC stock opened at $274.02 on Wednesday. The stock has a fifty day moving average price of $259.86 and a 200 day moving average price of $244.42. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.70 and a current ratio of 2.47. The stock has a market cap of $3.71 billion, a PE ratio of 53.62 and a beta of -0.08. WD-40 has a 1 year low of $211.03 and a 1 year high of $278.78.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings data on Thursday, October 17th. The specialty chemicals company reported $1.23 EPS 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 analysts’ expectations of $149.20 million. During the same quarter in the prior year, the firm earned $1.21 earnings per share. WD-40’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts forecast that WD-40 will post 5.36 earnings per share for the current fiscal year.

WD-40 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 18th were paid a dividend of $0.88 per share. The ex-dividend date was Friday, October 18th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.28%. WD-40’s dividend payout ratio (DPR) is 68.88%.

Insider Buying and Selling

In other WD-40 news, Director William B. Noble sold 800 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $256.98, for a total transaction of $205,584.00. Following the completion of the transaction, the director now owns 8,999 shares of the company’s stock, valued at approximately $2,312,563.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.65% of the company’s stock.

WD-40 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.