Evelyn Partners Investment Management LLP Cuts Position in WD-40 Company $WDFC

Evelyn Partners Investment Management LLP reduced its holdings in shares of WD-40 Company (NASDAQ:WDFC) by 93.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 570 shares of the specialty chemicals company’s stock after selling 7,801 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in WD-40 were worth $130,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Ameritas Advisory Services LLC purchased a new stake in WD-40 during the 2nd quarter worth $30,000. Covestor Ltd lifted its stake in shares of WD-40 by 49.3% during the first quarter. Covestor Ltd now owns 306 shares of the specialty chemicals company’s stock worth $75,000 after purchasing an additional 101 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of WD-40 by 17.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 522 shares of the specialty chemicals company’s stock worth $127,000 after buying an additional 76 shares during the period. State of Wyoming grew its stake in shares of WD-40 by 22.2% in the first quarter. State of Wyoming now owns 566 shares of the specialty chemicals company’s stock valued at $138,000 after buying an additional 103 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of WD-40 in the first quarter valued at about $146,000. Hedge funds and other institutional investors own 91.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of WD-40 in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $300.00.

WD-40 Trading Up 0.8%

Shares of WDFC opened at $199.02 on Friday. WD-40 Company has a one year low of $187.40 and a one year high of $289.10. The stock has a 50-day moving average price of $198.05 and a 200 day moving average price of $217.93. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.01 and a current ratio of 2.79. The company has a market capitalization of $2.69 billion, a P/E ratio of 29.79 and a beta of 0.18.

WD-40 (NASDAQ:WDFC) last announced its earnings results on Wednesday, October 22nd. The specialty chemicals company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.30. The company had revenue of $163.47 million for the quarter, compared to analyst estimates of $153.90 million. WD-40 had a return on equity of 31.84% and a net margin of 14.68%.WD-40’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 EPS. WD-40 has set its FY 2025 guidance at 5.750-6.150 EPS. Sell-side analysts forecast that WD-40 Company will post 5.42 EPS for the current fiscal year.

WD-40 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 20th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, October 20th. WD-40’s dividend payout ratio is currently 56.29%.

Insider Activity

In other WD-40 news, CFO Sara Kathleen Hyzer acquired 200 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was purchased at an average price of $200.46 per share, with a total value of $40,092.00. Following the completion of the acquisition, the chief financial officer directly owned 5,935 shares in the company, valued at $1,189,730.10. This trade represents a 3.49% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Eric Etchart bought 500 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were acquired at an average cost of $194.02 per share, for a total transaction of $97,010.00. Following the completion of the acquisition, the director directly owned 8,370 shares of the company’s stock, valued at $1,623,947.40. This trade represents a 6.35% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 2,640 shares of company stock valued at $522,765 over the last three months. 0.78% of the stock is currently owned by company insiders.

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.