Wellington Shields Capital Management LLC Decreases Position in WD-40 (WDFC)

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Wellington Shields Capital Management LLC lowered its stake in WD-40 (NASDAQ:WDFC) by 7.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 9,110 shares of the specialty chemicals company’s stock after selling 750 shares during the period. Wellington Shields Capital Management LLC owned approximately 0.07% of WD-40 worth $1,568,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in WDFC. Acropolis Investment Management LLC acquired a new position in WD-40 in the 3rd quarter valued at about $103,000. Stratos Wealth Partners LTD. acquired a new position in shares of WD-40 during the 3rd quarter worth approximately $103,000. Fort L.P. acquired a new position in shares of WD-40 during the 2nd quarter worth approximately $115,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of WD-40 during the 2nd quarter worth approximately $124,000. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of WD-40 by 172.8% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 832 shares of the specialty chemicals company’s stock worth $143,000 after purchasing an additional 527 shares in the last quarter. Institutional investors and hedge funds own 89.03% of the company’s stock.

A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of WD-40 from a “hold” rating to a “sell” rating in a research report on Wednesday. BidaskClub upgraded shares of WD-40 from a “sell” rating to a “hold” rating in a research report on Friday, October 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $149.67.

Shares of WD-40 stock traded up $0.28 on Friday, reaching $173.88. 1,445 shares of the stock were exchanged, compared to its average volume of 95,118. WD-40 has a one year low of $111.50 and a one year high of $184.25. The company has a current ratio of 1.96, a quick ratio of 1.53 and a debt-to-equity ratio of 0.40. The company has a market cap of $2.36 billion, a PE ratio of 42.10, a price-to-earnings-growth ratio of 3.79 and a beta of 0.52.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings results on Thursday, October 18th. The specialty chemicals company reported $1.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.55. WD-40 had a net margin of 15.96% and a return on equity of 38.51%. The company had revenue of $102.60 million during the quarter. During the same period last year, the company posted $1.01 EPS. The business’s revenue was up 6.2% on a year-over-year basis. Research analysts forecast that WD-40 will post 4.5 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, October 19th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Thursday, October 18th. WD-40’s dividend payout ratio (DPR) is presently 52.30%.

In other news, insider William B. Noble sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $166.13, for a total transaction of $332,260.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stanley Sewitch, Jr. sold 2,167 shares of the stock in a transaction that occurred on Thursday, October 25th. The shares were sold at an average price of $163.80, for a total transaction of $354,954.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,334 shares of company stock valued at $1,047,262. 2.09% of the stock is currently owned by insiders.

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WD-40 Profile

WD-40 Company engages in the development and sale of maintenance products, and homecare and cleaning products. It 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; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand name; and bicycle maintenance products under the WD-40 Bike brand name comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products that are designed for avid and recreational cyclists, bike enthusiasts, and mechanics.

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

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