GCQ FUNDS MANAGEMENT PTY Ltd Makes New Investment in WD-40 (NASDAQ:WDFC)

GCQ FUNDS MANAGEMENT PTY Ltd purchased a new position in shares of WD-40 (NASDAQ:WDFC) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 18,676 shares of the specialty chemicals company’s stock, valued at approximately $4,532,000. WD-40 comprises about 1.6% of GCQ FUNDS MANAGEMENT PTY Ltd’s investment portfolio, making the stock its 10th biggest position.

Several other institutional investors have also recently made changes to their positions in WDFC. SRS Capital Advisors Inc. increased its position in shares of WD-40 by 525.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 194 shares of the specialty chemicals company’s stock worth $47,000 after purchasing an additional 163 shares during the last quarter. GAMMA Investing LLC increased its position in shares of WD-40 by 23.1% during the 4th quarter. GAMMA Investing LLC now owns 400 shares of the specialty chemicals company’s stock worth $97,000 after purchasing an additional 75 shares during the last quarter. KBC Group NV increased its position in shares of WD-40 by 28.6% during the 3rd quarter. KBC Group NV now owns 445 shares of the specialty chemicals company’s stock worth $115,000 after purchasing an additional 99 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of WD-40 by 77.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 475 shares of the specialty chemicals company’s stock worth $122,000 after purchasing an additional 208 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in shares of WD-40 by 70.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the specialty chemicals company’s stock worth $137,000 after purchasing an additional 233 shares during the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson reiterated a “buy” rating and set a $322.00 target price on shares of WD-40 in a research note on Monday, January 27th.

WD-40 Stock Performance

Shares of NASDAQ WDFC opened at $244.25 on Wednesday. The company has a current ratio of 2.44, a quick ratio of 1.75 and a debt-to-equity ratio of 0.37. WD-40 has a 12 month low of $211.03 and a 12 month high of $292.36. The stock has a 50 day moving average of $235.86 and a 200-day moving average of $253.35. The company has a market capitalization of $3.31 billion, a P/E ratio of 46.79 and a beta of -0.10.

WD-40 (NASDAQ:WDFC) last issued its earnings results on Friday, January 10th. The specialty chemicals company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.29 by $0.10. WD-40 had a return on equity of 31.68% and a net margin of 11.78%. The company had revenue of $153.30 million during the quarter, compared to the consensus estimate of $147.40 million. During the same period in the previous year, the company posted $1.28 EPS. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities research analysts predict that WD-40 will post 5.42 EPS for the current year.

WD-40 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 18th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.54%. WD-40’s payout ratio is 72.03%.

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.