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

Conestoga Capital Advisors LLC cut its holdings in WD-40 Company (NASDAQ:WDFC) by 35.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 190,200 shares of the specialty chemicals company’s stock after selling 106,647 shares during the quarter. Conestoga Capital Advisors LLC owned about 1.41% of WD-40 worth $38,789,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Inspire Investing LLC grew its stake in shares of WD-40 by 6.7% in the 1st quarter. Inspire Investing LLC now owns 2,525 shares of the specialty chemicals company’s stock worth $515,000 after purchasing an additional 159 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in WD-40 by 12.2% during the first quarter. Pictet Asset Management Holding SA now owns 2,349 shares of the specialty chemicals company’s stock valued at $479,000 after purchasing an additional 255 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in WD-40 during the first quarter valued at approximately $1,224,000. Andina Capital Management LLC bought a new stake in WD-40 during the first quarter worth approximately $382,000. Finally, SG Americas Securities LLC grew its position in WD-40 by 56.2% in the first quarter. SG Americas Securities LLC now owns 2,502 shares of the specialty chemicals company’s stock worth $510,000 after buying an additional 900 shares during the last quarter. 91.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WDFC has been the topic of several research reports. DA Davidson dropped their price target on WD-40 from $300.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Weiss Ratings cut WD-40 from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. William Blair assumed coverage on WD-40 in a research report on Monday, April 6th. They set an “outperform” rating on the stock. Finally, Northcoast Research raised WD-40 to a “strong-buy” rating in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $270.00.

WD-40 Stock Down 0.9%

WDFC stock opened at $241.43 on Thursday. WD-40 Company has a 52-week low of $175.38 and a 52-week high of $253.24. The company’s 50 day simple moving average is $216.00 and its 200-day simple moving average is $217.21. 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 has a market capitalization of $3.25 billion, a P/E ratio of 41.06 and a beta of 0.26.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings data 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 firm had revenue of $161.67 million during the quarter, compared to analyst estimates of $154.90 million. During the same quarter last year, the business posted $1.32 EPS. The company’s revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts anticipate that WD-40 Company will post 5.99 EPS for the current year.

WD-40 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be issued a dividend of $1.02 per share. The ex-dividend date is Friday, July 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.7%. WD-40’s payout ratio is currently 69.39%.

WD-40 Profile

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.