Pittenger & Anderson Inc. Sells 265 Shares of WD-40 (NASDAQ:WDFC)

Pittenger & Anderson Inc. decreased its holdings in shares of WD-40 (NASDAQ:WDFC) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,710 shares of the specialty chemicals company’s stock after selling 265 shares during the quarter. Pittenger & Anderson Inc.’s holdings in WD-40 were worth $887,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WDFC. Comerica Bank acquired a new stake in shares of WD-40 in the third quarter worth $6,223,000. Conestoga Capital Advisors LLC grew its position in WD-40 by 6.4% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 311,245 shares of the specialty chemicals company’s stock worth $63,257,000 after purchasing an additional 18,812 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of WD-40 by 48.5% during the third quarter. Envestnet Asset Management Inc. now owns 55,725 shares of the specialty chemicals company’s stock valued at $11,325,000 after buying an additional 18,205 shares during the last quarter. Profit Investment Management LLC bought a new stake in shares of WD-40 in the fourth quarter valued at about $2,892,000. Finally, Eagle Asset Management Inc. increased its stake in WD-40 by 27.4% during the third quarter. Eagle Asset Management Inc. now owns 44,450 shares of the specialty chemicals company’s stock valued at $9,034,000 after acquiring an additional 9,553 shares during the period. Institutional investors and hedge funds own 91.52% of the company’s stock.

Insider Buying and Selling

In related news, VP Jeffrey G. Lindeman purchased 182 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price of $272.42 per share, with a total value of $49,580.44. Following the completion of the acquisition, the vice president now directly owns 3,073 shares in the company, valued at approximately $837,146.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director David Pendarvis purchased 328 shares of WD-40 stock in a transaction on Friday, April 12th. The stock was purchased at an average price of $234.75 per share, with a total value of $76,998.00. Following the transaction, the director now directly owns 4,934 shares in the company, valued at approximately $1,158,256.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Jeffrey G. Lindeman acquired 182 shares of the stock in a transaction dated Monday, February 12th. The stock was acquired at an average price of $272.42 per share, for a total transaction of $49,580.44. Following the completion of the acquisition, the vice president now directly owns 3,073 shares of the company’s stock, valued at $837,146.66. The disclosure for this purchase can be found here. Insiders have purchased a total of 942 shares of company stock worth $226,897 in the last 90 days. Corporate insiders own 0.65% of the company’s stock.

WD-40 Price Performance

NASDAQ:WDFC traded down $1.49 on Thursday, reaching $225.20. The stock had a trading volume of 80,700 shares, compared to its average volume of 134,140. The company has a market capitalization of $3.05 billion, a P/E ratio of 45.12 and a beta of -0.06. The stock has a fifty day moving average price of $251.04 and a 200-day moving average price of $242.37. The company has a quick ratio of 1.56, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. WD-40 has a 1-year low of $181.38 and a 1-year high of $278.78.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Tuesday, April 9th. The specialty chemicals company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.01. WD-40 had a return on equity of 32.30% and a net margin of 12.19%. The business had revenue of $139.10 million for the quarter, compared to analyst estimates of $140.51 million. During the same period in the prior year, the company earned $1.21 EPS. WD-40’s revenue for the quarter was up 6.8% on a year-over-year basis. Research analysts forecast that WD-40 will post 5.22 EPS for the current year.

WD-40 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 19th will be issued a $0.88 dividend. The ex-dividend date is Thursday, April 18th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.56%. WD-40’s dividend payout ratio is 70.26%.

Analysts Set New Price Targets

Separately, DA Davidson reiterated a “buy” rating and issued a $313.00 price objective on shares of WD-40 in a research report on Wednesday, April 10th.

WD-40 Company Profile

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, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.