Clearstead Trust LLC Cuts Stock Position in WD-40 (NASDAQ:WDFC)

Clearstead Trust LLC reduced its position in WD-40 (NASDAQ:WDFC) by 63.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,000 shares of the specialty chemicals company’s stock after selling 1,719 shares during the quarter. Clearstead Trust LLC’s holdings in WD-40 were worth $220,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. YHB Investment Advisors Inc. purchased a new position in shares of WD-40 in the 1st quarter worth about $33,000. DekaBank Deutsche Girozentrale purchased a new position in shares of WD-40 in the 1st quarter worth about $34,000. Advisors Asset Management Inc. purchased a new position in shares of WD-40 in the 1st quarter worth about $43,000. Covestor Ltd boosted its holdings in shares of WD-40 by 57.7% in the 1st quarter. Covestor Ltd now owns 216 shares of the specialty chemicals company’s stock worth $55,000 after purchasing an additional 79 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of WD-40 in the 4th quarter worth about $60,000. 91.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, DA Davidson cut their price objective on WD-40 from $313.00 to $303.00 and set a “buy” rating for the company in a report on Thursday, July 11th.

WD-40 Trading Up 1.1 %

Shares of WDFC stock opened at $260.29 on Tuesday. The stock has a market capitalization of $3.53 billion, a PE ratio of 51.14 and a beta of -0.08. WD-40 has a 1-year low of $194.09 and a 1-year high of $278.78. The business has a 50-day moving average of $253.09 and a 200 day moving average of $241.50. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.56.

WD-40 (NASDAQ:WDFC) last issued its earnings results on Wednesday, July 10th. The specialty chemicals company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.07. The company had revenue of $155.05 million during the quarter, compared to analysts’ expectations of $145.80 million. WD-40 had a return on equity of 32.43% and a net margin of 12.07%. WD-40’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.38 EPS. As a group, sell-side analysts anticipate that WD-40 will post 5.22 earnings per share for the current year.

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.