GCQ FUNDS MANAGEMENT PTY Ltd Buys Shares of 18,676 WD-40 (NASDAQ:WDFC)

GCQ FUNDS MANAGEMENT PTY Ltd bought a new position in WD-40 (NASDAQ:WDFC) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 18,676 shares of the specialty chemicals company’s stock, valued at approximately $4,532,000. WD-40 accounts for 1.6% of GCQ FUNDS MANAGEMENT PTY Ltd’s investment portfolio, making the stock its 10th largest holding. GCQ FUNDS MANAGEMENT PTY Ltd owned about 0.14% of WD-40 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WDFC. Allspring Global Investments Holdings LLC lifted its holdings in WD-40 by 209.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,672 shares of the specialty chemicals company’s stock worth $401,000 after acquiring an additional 1,132 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of WD-40 by 42.4% during the third quarter. Thrivent Financial for Lutherans now owns 16,026 shares of the specialty chemicals company’s stock worth $4,133,000 after purchasing an additional 4,775 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of WD-40 by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 145,462 shares of the specialty chemicals company’s stock worth $37,512,000 after purchasing an additional 3,960 shares during the period. Pacer Advisors Inc. raised its position in shares of WD-40 by 115.3% during the fourth quarter. Pacer Advisors Inc. now owns 859 shares of the specialty chemicals company’s stock worth $208,000 after purchasing an additional 460 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of WD-40 by 24.8% during the third quarter. JPMorgan Chase & Co. now owns 53,950 shares of the specialty chemicals company’s stock worth $13,913,000 after purchasing an additional 10,711 shares during the period. 91.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

WD-40 Trading Up 0.8 %

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

WD-40 (NASDAQ:WDFC) last announced its earnings results on Friday, January 10th. The specialty chemicals company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.10. WD-40 had a return on equity of 31.68% and a net margin of 11.78%. The business had revenue of $153.30 million for the quarter, compared to analyst estimates of $147.40 million. During the same quarter last year, the firm earned $1.28 EPS. WD-40’s revenue for the quarter was up 9.2% compared to the same quarter last year. Sell-side analysts anticipate that WD-40 will post 5.42 earnings per share for the current fiscal year.

WD-40 Announces Dividend

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

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.