Allspring Global Investments Holdings LLC Has $401,000 Stock Position in WD-40 (NASDAQ:WDFC)

Allspring Global Investments Holdings LLC grew its stake in shares of WD-40 (NASDAQ:WDFC) by 209.6% in the 4th quarter, HoldingsChannel reports. The fund owned 1,672 shares of the specialty chemicals company’s stock after purchasing an additional 1,132 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in WD-40 were worth $401,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Covestor Ltd increased its stake in WD-40 by 41.3% in the third quarter. Covestor Ltd now owns 226 shares of the specialty chemicals company’s stock valued at $58,000 after acquiring an additional 66 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of WD-40 by 23.1% during the fourth quarter. GAMMA Investing LLC now owns 400 shares of the specialty chemicals company’s stock worth $97,000 after purchasing an additional 75 shares during the period. Blue Trust Inc. lifted its holdings in WD-40 by 28.9% in the third quarter. Blue Trust Inc. now owns 393 shares of the specialty chemicals company’s stock valued at $101,000 after buying an additional 88 shares during the period. KBC Group NV increased its stake in WD-40 by 28.6% in the third quarter. KBC Group NV now owns 445 shares of the specialty chemicals company’s stock valued at $115,000 after purchasing an additional 99 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in WD-40 by 77.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 475 shares of the specialty chemicals company’s stock valued at $122,000 after purchasing an additional 208 shares in the last quarter. 91.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson reissued a “buy” rating and set a $322.00 target price on shares of WD-40 in a research report on Monday, January 27th.

WD-40 Stock Up 0.3 %

WDFC opened at $229.68 on Tuesday. The company has a quick ratio of 1.75, a current ratio of 2.44 and a debt-to-equity ratio of 0.37. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 44.00 and a beta of -0.05. WD-40 has a twelve month low of $211.03 and a twelve month high of $292.36. The company’s 50-day moving average price is $237.43 and its two-hundred day moving average price is $254.64.

WD-40 (NASDAQ:WDFC) last released its earnings results on Friday, January 10th. The specialty chemicals company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.10. The firm had revenue of $153.30 million for the quarter, compared to analysts’ expectations of $147.40 million. WD-40 had a net margin of 11.78% and a return on equity of 31.68%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.28 earnings per share. As a group, equities analysts expect that WD-40 will post 5.42 earnings per share for the current year.

WD-40 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a dividend of $0.94 per share. This is a boost from WD-40’s previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Friday, January 17th. WD-40’s dividend payout ratio is presently 72.03%.

About WD-40

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.