State Board of Administration of Florida Retirement System cut its position in shares of WD-40 Co. (NASDAQ:WDFC) by 11.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,478 shares of the company’s stock after selling 872 shares during the period. State Board of Administration of Florida Retirement System’s holdings in WD-40 were worth $761,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in WD-40 by 121.0% in the first quarter. BlackRock Inc. now owns 977 shares of the company’s stock worth $105,000 after buying an additional 535 shares during the period. Bank of Montreal Can purchased a new position in shares of WD-40 during the second quarter worth $131,000. Magnetar Financial LLC purchased a new position in shares of WD-40 during the first quarter worth $240,000. BNP Paribas Arbitrage SA raised its position in shares of WD-40 by 106.9% in the second quarter. BNP Paribas Arbitrage SA now owns 4,596 shares of the company’s stock worth $540,000 after buying an additional 2,375 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of WD-40 during the first quarter worth $588,000. Institutional investors own 75.97% of the company’s stock.
WD-40 Co. (NASDAQ:WDFC) traded up 0.74% during mid-day trading on Friday, reaching $112.80. The company had a trading volume of 40,571 shares. WD-40 Co. has a 12 month low of $87.91 and a 12 month high of $125.00. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 32.70 and a beta of 0.69. The firm’s 50 day moving average price is $116.63 and its 200-day moving average price is $112.12.
WD-40 (NASDAQ:WDFC) last released its earnings results on Thursday, July 7th. The company reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.02. WD-40 had a return on equity of 32.92% and a net margin of 13.35%. The firm earned $96.40 million during the quarter. During the same period in the previous year, the firm earned $0.75 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts anticipate that WD-40 Co. will post $3.47 earnings per share for the current year.
A number of research analysts have recently weighed in on WDFC shares. Zacks Investment Research lowered WD-40 from a “hold” rating to a “sell” rating in a report on Tuesday, September 6th. Jefferies Group started coverage on WD-40 in a report on Thursday, August 25th. They issued a “hold” rating and a $120.00 price objective on the stock. Finally, B. Riley reissued a “neutral” rating and issued a $106.00 price objective on shares of WD-40 in a report on Wednesday, July 6th.
In other WD-40 news, Director Daniel E. Pittard purchased 295 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was bought at an average cost of $115.00 per share, with a total value of $33,925.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Geoffrey Holdsworth sold 1,427 shares of WD-40 stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $120.27, for a total value of $171,625.29. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company’s stock.
WD-40 Company Profile
WD-40 Company, is a global consumer Products Company. As of August 31, 2012, the Company’s products included WD-40 Smart Straw, WD-40 Trigger Pro, 3-IN-ONE Professional Garage Door Lube, Spot Shot Pet Clean which is a non-aerosol Spot Shot trigger product, and a mildew stain remover under the X-14 brand.
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