DRH Investments Inc. Invests $7.26 Million in WD-40 Company $WDFC

DRH Investments Inc. acquired a new position in WD-40 Company (NASDAQ:WDFC) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 36,894 shares of the specialty chemicals company’s stock, valued at approximately $7,264,000. WD-40 comprises approximately 6.7% of DRH Investments Inc.’s holdings, making the stock its 9th biggest holding. DRH Investments Inc. owned about 0.27% of WD-40 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of WD-40 by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 1,650,622 shares of the specialty chemicals company’s stock worth $325,007,000 after buying an additional 47,528 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of WD-40 by 6.4% in the 3rd quarter. Alliancebernstein L.P. now owns 533,738 shares of the specialty chemicals company’s stock worth $105,467,000 after buying an additional 32,333 shares during the last quarter. Geode Capital Management LLC grew its position in shares of WD-40 by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 405,117 shares of the specialty chemicals company’s stock worth $79,778,000 after buying an additional 2,072 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of WD-40 by 24.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 333,505 shares of the specialty chemicals company’s stock worth $76,069,000 after buying an additional 65,423 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of WD-40 by 62.5% in the 4th quarter. First Trust Advisors LP now owns 289,954 shares of the specialty chemicals company’s stock worth $57,092,000 after buying an additional 111,559 shares during the last quarter. 91.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WDFC has been the topic of several research reports. William Blair initiated coverage on WD-40 in a research report on Monday, April 6th. They set an “outperform” rating on the stock. Weiss Ratings lowered WD-40 from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Finally, DA Davidson dropped their price target on WD-40 from $300.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $270.00.

WD-40 Trading Down 0.5%

NASDAQ WDFC opened at $223.01 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.83 and a debt-to-equity ratio of 0.32. WD-40 Company has a twelve month low of $175.38 and a twelve month high of $253.24. The firm has a market capitalization of $3.00 billion, a PE ratio of 37.93 and a beta of 0.30. The stock’s 50 day moving average is $209.67 and its 200 day moving average is $213.38.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Thursday, April 9th. The specialty chemicals company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.11. WD-40 had a return on equity of 30.23% and a net margin of 12.57%.The company had revenue of $161.67 million for the quarter, compared to analyst estimates of $154.90 million. During the same period in the previous year, the company posted $1.32 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. Research analysts forecast that WD-40 Company will post 5.99 earnings per share for the current fiscal year.

WD-40 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Friday, April 17th were paid 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 yield of 1.8%. WD-40’s payout ratio is presently 69.39%.

WD-40 Company 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.