Retirement Systems of Alabama purchased a new stake in shares of WD-40 Co. (NASDAQ:WDFC) during the second quarter, Holdings Channel reports. The fund purchased 61,200 shares of the company’s stock, valued at approximately $7,188,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new position in WD-40 during the second quarter valued at $131,000. Hermes Investment Management Ltd. boosted its position in WD-40 by 133.7% in the second quarter. Hermes Investment Management Ltd. now owns 201,679 shares of the company’s stock valued at $23,687,000 after buying an additional 115,394 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in WD-40 by 4.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 139,204 shares of the company’s stock valued at $16,351,000 after buying an additional 6,421 shares in the last quarter. Capstone Asset Management Co. boosted its position in WD-40 by 7.6% in the second quarter. Capstone Asset Management Co. now owns 5,245 shares of the company’s stock valued at $616,000 after buying an additional 370 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in WD-40 by 106.9% in the second quarter. BNP Paribas Arbitrage SA now owns 4,596 shares of the company’s stock valued at $540,000 after buying an additional 2,375 shares in the last quarter. Institutional investors and hedge funds own 75.97% of the company’s stock.
Shares of WD-40 Co. (NASDAQ:WDFC) traded down 0.80% during trading on Friday, hitting $111.69. The stock had a trading volume of 128,058 shares. WD-40 Co. has a 52-week low of $90.31 and a 52-week high of $125.00. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 32.37 and a beta of 0.71. The firm’s 50-day moving average is $116.01 and its 200 day moving average is $112.41.
Several equities analysts have weighed in on the company. Zacks Investment Research cut WD-40 from a “hold” rating to a “sell” rating in a report on Tuesday, September 6th. Jefferies Group assumed coverage on WD-40 in a report on Thursday, August 25th. They set a “hold” rating and a $120.00 price target for the company. Finally, B. Riley reiterated a “neutral” rating and issued a $106.00 target price on shares of WD-40 in a report on Monday, July 11th.
In related news, VP Jay Rembolt sold 570 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $117.00, for a total value of $66,690.00. Following the completion of the transaction, the vice president now owns 34,966 shares of the company’s stock, valued at approximately $4,091,022. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel E. Pittard purchased 295 shares of WD-40 stock in a transaction that occurred on Monday, September 12th. The stock was acquired at an average cost of $115.00 per share, with a total value of $33,925.00. The disclosure for this purchase can be found here. 3.84% of the stock is owned by corporate insiders.
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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