Conestoga Capital Advisors LLC Has $38.79 Million Stake in WD-40 Company $WDFC

Conestoga Capital Advisors LLC reduced its stake in shares of WD-40 Company (NASDAQ:WDFC) by 35.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 190,200 shares of the specialty chemicals company’s stock after selling 106,647 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in WD-40 were worth $38,789,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Covestor Ltd grew its position in WD-40 by 9.8% in the 4th quarter. Covestor Ltd now owns 549 shares of the specialty chemicals company’s stock worth $108,000 after purchasing an additional 49 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of WD-40 by 1.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,050 shares of the specialty chemicals company’s stock worth $601,000 after purchasing an additional 50 shares during the period. Allworth Financial LP raised its position in shares of WD-40 by 4.4% during the third quarter. Allworth Financial LP now owns 1,317 shares of the specialty chemicals company’s stock valued at $260,000 after buying an additional 56 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of WD-40 by 3.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 1,829 shares of the specialty chemicals company’s stock valued at $360,000 after buying an additional 59 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of WD-40 by 26.0% in the fourth quarter. Advisors Asset Management Inc. now owns 359 shares of the specialty chemicals company’s stock valued at $71,000 after buying an additional 74 shares during the period. 91.52% of the stock is owned by hedge funds and other institutional investors.

WD-40 Trading Down 0.9%

Shares of WD-40 stock opened at $241.43 on Thursday. WD-40 Company has a 12-month low of $175.38 and a 12-month high of $253.24. The company has a 50-day simple moving average of $216.00 and a 200 day simple moving average of $217.21. The company has a quick ratio of 1.98, a current ratio of 2.83 and a debt-to-equity ratio of 0.32. The stock 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 announced its earnings results on Thursday, April 9th. The specialty chemicals company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.39 by $0.11. The business had revenue of $161.67 million for the quarter, compared to the consensus estimate of $154.90 million. WD-40 had a return on equity of 30.23% and a net margin of 12.57%.WD-40’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.32 EPS. Research analysts expect that WD-40 Company will post 5.99 earnings per share for the current fiscal year.

WD-40 Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.