WD-40 Company $WDFC Shares Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC cut its holdings in shares of WD-40 Company (NASDAQ:WDFC) by 4.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 296,847 shares of the specialty chemicals company’s stock after selling 13,757 shares during the period. Conestoga Capital Advisors LLC’s holdings in WD-40 were worth $58,449,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its position in WD-40 by 3.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,865 shares of the specialty chemicals company’s stock worth $362,000 after acquiring an additional 56 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in WD-40 by 6.2% during the third quarter. Smartleaf Asset Management LLC now owns 953 shares of the specialty chemicals company’s stock worth $186,000 after acquiring an additional 56 shares during the last quarter. Allworth Financial LP boosted its position in WD-40 by 4.4% during the third quarter. Allworth Financial LP now owns 1,317 shares of the specialty chemicals company’s stock worth $260,000 after acquiring an additional 56 shares during the last quarter. Amalgamated Bank boosted its position in WD-40 by 1.8% during the third quarter. Amalgamated Bank now owns 3,925 shares of the specialty chemicals company’s stock worth $776,000 after acquiring an additional 68 shares during the last quarter. Finally, M&T Bank Corp boosted its position in WD-40 by 7.1% during the second quarter. M&T Bank Corp now owns 1,349 shares of the specialty chemicals company’s stock worth $308,000 after acquiring an additional 89 shares during the last quarter. 91.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of WD-40 in a research report on Wednesday, January 21st. DA Davidson reduced their target price on shares of WD-40 from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Finally, William Blair assumed coverage on shares of WD-40 in a research note on Monday, April 6th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, WD-40 presently has an average rating of “Moderate Buy” and an average price target of $270.00.

Insider Activity

In related news, Director David Pendarvis purchased 424 shares of WD-40 stock in a transaction dated Thursday, February 5th. The shares were acquired at an average cost of $247.15 per share, with a total value of $104,791.60. Following the purchase, the director owned 6,898 shares of the company’s stock, valued at approximately $1,704,840.70. The trade was a 6.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.78% of the company’s stock.

WD-40 Price Performance

Shares of WDFC stock opened at $209.96 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.83 and a quick ratio of 1.98. The firm’s 50-day moving average is $220.98 and its two-hundred day moving average is $211.24. WD-40 Company has a 12 month low of $175.38 and a 12 month high of $253.24. The company has a market capitalization of $2.82 billion, a PE ratio of 35.71 and a beta of 0.25.

WD-40 (NASDAQ:WDFC) last issued its earnings results on Thursday, April 9th. The specialty chemicals company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. WD-40 had a net margin of 12.57% and a return on equity of 30.23%. The company had revenue of $161.67 million for the quarter, compared to the consensus estimate of $154.90 million. During the same period in the previous year, the firm earned $1.32 earnings per share. WD-40’s quarterly revenue was up 10.7% compared to the same quarter last year. Analysts predict that WD-40 Company will post 5.99 earnings per share for the current year.

WD-40 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Friday, April 17th were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, April 17th. WD-40’s payout ratio is 69.39%.

About WD-40

WD-40 Company, headquartered in San Diego, California, is best known for its flagship WD-40® Multi-Use Product, a water-displacing spray used for lubrication, rust prevention and cleaning. Since its introduction in 1953 by the Rocket Chemical Company, the WD-40 brand has become a household and industrial staple. Over time, the company has broadened its portfolio to include complementary maintenance and cleaning brands such as 3-IN-ONE® oils, Lava® hand cleaners, Solvol® solvents, Spot Shot® stain removers and X-14® cleaning products.

WD-40 Company distributes its products in more than 176 countries through retail, industrial and automotive channels.