Tower Research Capital LLC TRC Buys 829 Shares of WD-40 (NASDAQ:WDFC)

Posted by on Mar 4th, 2023

Tower Research Capital LLC TRC grew its stake in shares of WD-40 (NASDAQ:WDFC – Get Rating) by 140.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,418 shares of the specialty chemicals company’s stock after buying an additional 829 shares during the period. Tower Research Capital LLC TRC’s holdings in WD-40 were worth $250,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in WD-40 by 1.2% during the first quarter. BlackRock Inc. now owns 2,125,850 shares of the specialty chemicals company’s stock valued at $389,520,000 after purchasing an additional 25,648 shares in the last quarter. State Street Corp boosted its holdings in WD-40 by 0.7% in the 2nd quarter. State Street Corp now owns 482,808 shares of the specialty chemicals company’s stock worth $97,218,000 after buying an additional 3,270 shares during the period. First Trust Advisors LP increased its stake in WD-40 by 27.4% in the 1st quarter. First Trust Advisors LP now owns 328,113 shares of the specialty chemicals company’s stock worth $60,120,000 after buying an additional 70,598 shares in the last quarter. Principal Financial Group Inc. raised its holdings in WD-40 by 7.5% during the second quarter. Principal Financial Group Inc. now owns 250,675 shares of the specialty chemicals company’s stock valued at $50,476,000 after acquiring an additional 17,465 shares during the period. Finally, Geneva Capital Management LLC boosted its stake in shares of WD-40 by 3.9% in the third quarter. Geneva Capital Management LLC now owns 178,242 shares of the specialty chemicals company’s stock worth $31,325,000 after acquiring an additional 6,675 shares during the period. 92.24% of the stock is currently owned by institutional investors.

WD-40 Stock Up 0.8 %

Shares of WDFC opened at $172.95 on Friday. The business’s 50 day moving average is $171.43 and its 200 day moving average is $174.21. The company has a current ratio of 2.25, a quick ratio of 1.20 and a debt-to-equity ratio of 0.56. WD-40 has a 12-month low of $145.16 and a 12-month high of $209.64. The company has a market capitalization of $2.35 billion, a PE ratio of 37.76 and a beta of -0.17.

WD-40 (NASDAQ:WDFC – Get Rating) last released its quarterly earnings data on Monday, January 9th. The specialty chemicals company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.07). WD-40 had a net margin of 12.33% and a return on equity of 32.44%. The company had revenue of $124.89 million for the quarter, compared to the consensus estimate of $140.70 million. During the same quarter in the previous year, the business earned $1.34 EPS. The company’s quarterly revenue was down 7.3% on a year-over-year basis. Research analysts expect that WD-40 will post 5.19 earnings per share for the current fiscal year.

WD-40 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 31st. Stockholders of record on Friday, January 13th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.92%. This is a boost from WD-40’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Thursday, January 12th. WD-40’s payout ratio is 72.49%.

Insider Activity at WD-40

In other news, CEO Steven A. Brass acquired 586 shares of the firm’s stock in a transaction dated Wednesday, January 18th. The shares were acquired at an average cost of $170.57 per share, with a total value of $99,954.02. Following the acquisition, the chief executive officer now directly owns 15,975 shares of the company’s stock, valued at $2,724,855.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other WD-40 news, insider Patricia Q. Olsem sold 438 shares of WD-40 stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $180.00, for a total value of $78,840.00. Following the completion of the transaction, the insider now directly owns 2,743 shares of the company’s stock, valued at approximately $493,740. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven A. Brass bought 586 shares of the firm’s stock in a transaction dated Wednesday, January 18th. The shares were acquired at an average price of $170.57 per share, for a total transaction of $99,954.02. Following the completion of the transaction, the chief executive officer now directly owns 15,975 shares in the company, valued at approximately $2,724,855.75. The disclosure for this purchase can be found here. 1.50% of the stock is owned by corporate insiders.

WD-40 Company Profile

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WD-40 Co engages in developing and selling products that solve problems in workshops, factories, and homes. The firm operates through the following geographical segments: Americas, Europe, Middle East, and Africa (EMEA), and Asia-Pacific. Its product brands include WD-40 multi-use product, WD-40 specialist, 3-in-one, GT85, X-14, 2000 flushes, carpet fresh, no vac, spot shot, 1001, lava, and solvol.

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Institutional Ownership by Quarter for WD-40 (NASDAQ:WDFC)

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