First Trust Advisors LP cut its stake in shares of WD-40 Co. (NASDAQ:WDFC) by 26.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,086 shares of the company’s stock after selling 3,665 shares during the period. First Trust Advisors LP owned approximately 0.07% of WD-40 worth $1,185,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in shares of WD-40 by 7.2% in the first quarter. Renaissance Technologies LLC now owns 708,000 shares of the company’s stock valued at $76,471,000 after buying an additional 47,400 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of WD-40 by 3.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 372,393 shares of the company’s stock valued at $40,222,000 after buying an additional 12,537 shares during the last quarter. State Street Corp increased its stake in shares of WD-40 by 2.6% in the first quarter. State Street Corp now owns 302,387 shares of the company’s stock valued at $32,663,000 after buying an additional 7,553 shares during the last quarter. Hermes Investment Management Ltd. increased its stake 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 valued at $23,687,000 after buying an additional 115,394 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK increased its stake in shares of WD-40 by 49.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 176,805 shares of the company’s stock valued at $20,765,000 after buying an additional 58,242 shares during the last quarter. 75.97% of the stock is owned by hedge funds and other institutional investors.
Shares of WD-40 Co. (NASDAQ:WDFC) traded down 0.16% during midday trading on Monday, hitting $112.25. 28,992 shares of the stock traded hands. The firm has a 50-day moving average price of $116.53 and a 200-day moving average price of $112.18. WD-40 Co. has a 52 week low of $90.00 and a 52 week high of $125.00. The stock has a market capitalization of $1.60 billion, a P/E ratio of 32.54 and a beta of 0.71.
WD-40 (NASDAQ:WDFC) last posted its quarterly earnings data on Thursday, July 7th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.02. The firm had revenue of $96.40 million for the quarter. WD-40 had a net margin of 13.35% and a return on equity of 32.92%. WD-40’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. On average, equities analysts predict that WD-40 Co. will post $3.47 earnings per share for the current fiscal year.
WDFC has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of WD-40 from a “hold” rating to a “sell” rating in a research note on Tuesday, August 23rd. B. Riley reaffirmed a “neutral” rating and issued a $106.00 target price on shares of WD-40 in a research note on Monday, July 11th. Finally, Jefferies Group initiated 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 for the company.
In other WD-40 news, VP Jay Rembolt sold 570 shares of WD-40 stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $117.00, for a total transaction of $66,690.00. Following the transaction, the vice president now directly 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 available through this hyperlink. Also, Director Daniel E. Pittard acquired 295 shares of the business’s stock in a transaction on Monday, September 12th. The shares were purchased at an average cost of $115.00 per share, for a total transaction of $33,925.00. The disclosure for this purchase can be found here. Company insiders own 3.84% of the company’s stock.
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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