Parnassus Investments CA Boosts Position in WD-40 (WDFC)

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Parnassus Investments CA increased its stake in WD-40 (NASDAQ:WDFC) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,331,349 shares of the specialty chemicals company’s stock after purchasing an additional 8,593 shares during the quarter. Parnassus Investments CA owned approximately 9.63% of WD-40 worth $243,983,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of WDFC. Federated Investors Inc. PA raised its holdings in shares of WD-40 by 1,634.3% in the 3rd quarter. Federated Investors Inc. PA now owns 217,948 shares of the specialty chemicals company’s stock worth $37,509,000 after purchasing an additional 205,381 shares during the period. Acadian Asset Management LLC raised its holdings in shares of WD-40 by 83.1% in the 3rd quarter. Acadian Asset Management LLC now owns 188,616 shares of the specialty chemicals company’s stock worth $32,460,000 after purchasing an additional 85,616 shares during the period. BlackRock Inc. raised its holdings in shares of WD-40 by 3.6% in the 3rd quarter. BlackRock Inc. now owns 1,985,041 shares of the specialty chemicals company’s stock worth $341,624,000 after purchasing an additional 68,453 shares during the period. Conestoga Capital Advisors LLC raised its holdings in shares of WD-40 by 14.7% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 439,577 shares of the specialty chemicals company’s stock worth $75,651,000 after purchasing an additional 56,327 shares during the period. Finally, Vanguard Group Inc raised its holdings in shares of WD-40 by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 1,370,237 shares of the specialty chemicals company’s stock worth $235,818,000 after purchasing an additional 23,118 shares during the period. 95.91% of the stock is currently owned by institutional investors.

A number of equities research analysts recently commented on WDFC shares. BidaskClub cut shares of WD-40 from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 15th. DA Davidson started coverage on shares of WD-40 in a report on Friday, December 7th. They issued a “buy” rating on the stock. Zacks Investment Research raised shares of WD-40 from a “sell” rating to a “hold” rating in a report on Friday, November 23rd. Finally, ValuEngine upgraded shares of WD-40 from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $149.67.

WD-40 stock opened at $175.86 on Tuesday. WD-40 has a 1-year low of $118.80 and a 1-year high of $187.50. The company has a market capitalization of $2.45 billion, a P/E ratio of 42.58, a price-to-earnings-growth ratio of 3.89 and a beta of 0.28. The company has a quick ratio of 1.60, a current ratio of 2.19 and a debt-to-equity ratio of 0.41.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings data on Wednesday, January 9th. The specialty chemicals company reported $0.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.95. WD-40 had a net margin of 15.98% and a return on equity of 38.51%. The business had revenue of $101.30 million during the quarter, compared to analyst estimates of $99.10 million. During the same period in the previous year, the business earned $0.90 EPS. WD-40’s revenue was up 3.8% compared to the same quarter last year. Sell-side analysts forecast that WD-40 will post 4.56 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 31st. Investors of record on Tuesday, December 18th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.39%. This is a positive change from WD-40’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, January 17th. WD-40’s payout ratio is currently 59.08%.

In related news, insider Michael L. Freeman sold 6,000 shares of WD-40 stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $167.36, for a total value of $1,004,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.09% of the stock is currently owned by insiders.

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About WD-40

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 offers multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name for various consumer uses and industrial applications; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bicycle maintenance products comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics under the WD-40 Bike brand name.

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

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