KBC Group NV Takes Position in WD-40 (NASDAQ:WDFC)

KBC Group NV acquired a new stake in shares of WD-40 (NASDAQ:WDFC – Get Rating) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,186 shares of the specialty chemicals company’s stock, valued at approximately $239,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WDFC. Quadrant Capital Group LLC boosted its stake in shares of WD-40 by 386.1% during the first quarter. Quadrant Capital Group LLC now owns 175 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 139 shares in the last quarter. Hardy Reed LLC bought a new position in shares of WD-40 during the first quarter valued at approximately $58,000. Steward Partners Investment Advisory LLC boosted its stake in shares of WD-40 by 22.3% during the first quarter. Steward Partners Investment Advisory LLC now owns 335 shares of the specialty chemicals company’s stock valued at $61,000 after purchasing an additional 61 shares in the last quarter. Cornerstone Advisory LLC bought a new position in shares of WD-40 during the fourth quarter valued at approximately $77,000. Finally, Strs Ohio bought a new position in shares of WD-40 during the second quarter valued at approximately $80,000. 93.52% of the stock is currently owned by institutional investors.

WD-40 Trading Down 2.1 %

NASDAQ WDFC opened at $169.07 on Friday. The company has a fifty day simple moving average of $188.01 and a two-hundred day simple moving average of $186.07. The stock has a market cap of $2.30 billion, a P/E ratio of 38.16 and a beta of -0.18. WD-40 has a 12-month low of $163.61 and a 12-month high of $255.31. The company has a current ratio of 2.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.56.

WD-40 Announces Dividend

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The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 21st will be issued a $0.78 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.85%. WD-40’s dividend payout ratio is currently 70.43%.

Insiders Place Their Bets

In related news, Director Eric Etchart purchased 500 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was acquired at an average price of $177.60 per share, with a total value of $88,800.00. Following the completion of the acquisition, the director now owns 5,692 shares in the company, valued at approximately $1,010,899.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.33% of the company’s stock.

Wall Street Analysts Forecast Growth

WDFC has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of WD-40 in a research report on Wednesday. They set a “hold” rating for the company. BWS Financial initiated coverage on shares of WD-40 in a research report on Thursday, July 14th. They set a “sell” rating and a $88.00 target price for the company. TheStreet cut shares of WD-40 from a “b-” rating to a “c+” rating in a research report on Friday, July 8th. Finally, DA Davidson raised shares of WD-40 from a “neutral” rating to a “buy” rating and set a $205.00 target price for the company in a research report on Monday, July 18th.

WD-40 Profile

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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 provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name; and specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand, as well as various products under the WD-40 Bike brand name.