Summit Investment Advisors Inc. Buys 70 Shares of WD-40 (NASDAQ:WDFC)

Summit Investment Advisors Inc. lifted its position in WD-40 (NASDAQ:WDFC) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,425 shares of the specialty chemicals company’s stock after buying an additional 70 shares during the quarter. Summit Investment Advisors Inc.’s holdings in WD-40 were worth $346,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in shares of WD-40 by 209.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,672 shares of the specialty chemicals company’s stock worth $401,000 after purchasing an additional 1,132 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in WD-40 by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 150,557 shares of the specialty chemicals company’s stock valued at $36,537,000 after buying an additional 5,095 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of WD-40 in the fourth quarter valued at approximately $17,903,000. Vanguard Group Inc. increased its holdings in shares of WD-40 by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 1,627,684 shares of the specialty chemicals company’s stock worth $395,006,000 after acquiring an additional 16,763 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in WD-40 by 115.3% in the 4th quarter. Pacer Advisors Inc. now owns 859 shares of the specialty chemicals company’s stock valued at $208,000 after acquiring an additional 460 shares during the period. 91.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Sara Kathleen Hyzer bought 256 shares of the firm’s stock in a transaction on Friday, April 11th. The shares were purchased at an average cost of $222.83 per share, with a total value of $57,044.48. Following the acquisition, the chief financial officer now directly owns 4,072 shares in the company, valued at $907,363.76. This represents a 6.71 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

Separately, DA Davidson upgraded shares of WD-40 to a “strong-buy” rating in a report on Monday, April 14th.

WD-40 Stock Performance

NASDAQ:WDFC opened at $222.76 on Monday. The company has a current ratio of 2.44, a quick ratio of 1.75 and a debt-to-equity ratio of 0.37. The stock has a 50 day simple moving average of $234.52 and a 200 day simple moving average of $248.74. WD-40 has a 1-year low of $208.00 and a 1-year high of $292.36. The stock has a market cap of $3.02 billion, a P/E ratio of 42.67 and a beta of 0.03.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Tuesday, April 8th. The specialty chemicals company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.27 by $0.05. WD-40 had a net margin of 11.78% and a return on equity of 31.68%. The business had revenue of $146.10 million for the quarter, compared to the consensus estimate of $154.40 million. During the same period in the prior year, the company posted $1.14 earnings per share. WD-40’s revenue was up 5.0% compared to the same quarter last year. Research analysts anticipate that WD-40 will post 5.42 earnings per share for the current year.

WD-40 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 18th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Thursday, April 17th. WD-40’s dividend payout ratio is currently 59.97%.

WD-40 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.