Vest Financial LLC Raises Stock Holdings in WD-40 Company $WDFC

Vest Financial LLC lifted its holdings in shares of WD-40 Company (NASDAQ:WDFC) by 77.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,111 shares of the specialty chemicals company’s stock after purchasing an additional 9,235 shares during the quarter. Vest Financial LLC’s holdings in WD-40 were worth $4,157,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of WDFC. Quarry LP raised its position in shares of WD-40 by 1,462.5% during the 3rd quarter. Quarry LP now owns 125 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 117 shares in the last quarter. Fortitude Family Office LLC raised its position in shares of WD-40 by 4,133.3% during the 4th quarter. Fortitude Family Office LLC now owns 127 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 124 shares in the last quarter. HM Payson & Co. purchased a new stake in shares of WD-40 during the 3rd quarter valued at $28,000. Bessemer Group Inc. raised its position in shares of WD-40 by 340.5% during the 3rd quarter. Bessemer Group Inc. now owns 163 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 126 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of WD-40 by 207.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 157 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 91.52% of the company’s stock.

Insider Activity

In related news, Director David Pendarvis purchased 424 shares of WD-40 stock in a transaction that occurred on Thursday, February 5th. The shares were bought at an average price of $247.15 per share, for a total transaction of $104,791.60. Following the completion of the transaction, the director directly owned 6,898 shares of the company’s stock, valued at $1,704,840.70. This represents 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 this hyperlink. 0.78% of the stock is owned by corporate insiders.

WD-40 Price Performance

WDFC stock opened at $213.42 on Thursday. The firm’s 50-day moving average price is $221.54 and its two-hundred day moving average price is $211.25. WD-40 Company has a 12-month low of $175.38 and a 12-month high of $253.24. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 36.30 and a beta of 0.25. The company has a current ratio of 2.83, a quick ratio of 1.98 and a debt-to-equity ratio of 0.32.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings data on Thursday, April 9th. The specialty chemicals company reported $1.50 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $154.90 million. During the same quarter in the previous year, the company earned $1.32 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities 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 will be paid on Thursday, April 30th. Investors of record on Friday, April 17th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, April 17th. This represents a $4.08 annualized dividend and a dividend yield of 1.9%. WD-40’s payout ratio is currently 69.39%.

Wall Street Analyst Weigh In

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