Rice Hall James & Associates LLC cut its position in shares of WD-40 Co. (NASDAQ:WDFC) by 14.5% during the second quarter, Holdings Channel reports. The institutional investor owned 2,350 shares of the company’s stock after selling 400 shares during the period. Rice Hall James & Associates LLC’s holdings in WD-40 were worth $276,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Retirement Systems of Alabama bought a new position in shares of WD-40 during the second quarter worth $7,188,000. Bank of Montreal Can bought a new position in shares of WD-40 during the second quarter worth $131,000. Hermes Investment Management Ltd. raised its position in shares of WD-40 by 133.7% in the second quarter. Hermes Investment Management Ltd. now owns 201,679 shares of the company’s stock worth $23,687,000 after buying an additional 115,394 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of 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 worth $16,351,000 after buying an additional 6,421 shares in the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of WD-40 by 7.6% in the second quarter. Capstone Asset Management Co. now owns 5,245 shares of the company’s stock worth $616,000 after buying an additional 370 shares in the last quarter. 75.97% of the stock is currently owned by hedge funds and other institutional investors.
WD-40 Co. (NASDAQ:WDFC) traded up 0.68% on Tuesday, reaching $112.51. 110,511 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $115.88 and a 200-day moving average of $112.52. The company has a market cap of $1.60 billion, a P/E ratio of 32.61 and a beta of 0.71. WD-40 Co. has a 12-month low of $90.31 and a 12-month high of $125.00.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, October 21st will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.49%. WD-40’s dividend payout ratio (DPR) is 48.70%.
A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of WD-40 from a “hold” rating to a “sell” rating in a research note on Tuesday, September 6th. Jefferies Group began coverage on shares of WD-40 in a research note on Thursday, August 25th. They issued a “hold” rating and a $120.00 target price on the stock. Finally, B. Riley reissued a “neutral” rating and issued a $106.00 target price on shares of WD-40 in a research note on Monday, July 11th.
In other news, insider William B. Noble sold 1,000 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $115.14, for a total transaction of $115,140.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Geoffrey Holdsworth sold 1,427 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $120.27, for a total transaction of $171,625.29. The disclosure for this sale can be found here. 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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