Geneva Capital Management LLC Sells 2,564 Shares of WD-40 (NASDAQ:WDFC)

Geneva Capital Management LLC trimmed its stake in WD-40 (NASDAQ:WDFC) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,060 shares of the specialty chemicals company’s stock after selling 2,564 shares during the period. Geneva Capital Management LLC owned about 1.54% of WD-40 worth $50,735,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of WDFC. Raymond James Financial Inc. acquired a new stake in WD-40 in the 4th quarter worth $17,903,000. Barclays PLC grew its position in WD-40 by 309.7% in the 3rd quarter. Barclays PLC now owns 37,094 shares of the specialty chemicals company’s stock worth $9,566,000 after purchasing an additional 28,039 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in WD-40 in the 4th quarter worth $6,537,000. DF Dent & Co. Inc. grew its position in WD-40 by 27.3% in the 3rd quarter. DF Dent & Co. Inc. now owns 66,993 shares of the specialty chemicals company’s stock worth $17,276,000 after purchasing an additional 14,358 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new stake in WD-40 in the 4th quarter worth $3,217,000. 91.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, DA Davidson reiterated a “buy” rating and set a $322.00 target price on shares of WD-40 in a research report on Monday, January 27th.

WD-40 Price Performance

Shares of WD-40 stock opened at $240.55 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.75 and a current ratio of 2.44. The firm’s 50-day simple moving average is $235.43 and its 200-day simple moving average is $254.09. WD-40 has a twelve month low of $211.03 and a twelve month high of $292.36. The firm has a market cap of $3.26 billion, a P/E ratio of 46.08 and a beta of -0.05.

WD-40 (NASDAQ:WDFC) last issued its earnings results on Friday, January 10th. The specialty chemicals company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.10. WD-40 had a net margin of 11.78% and a return on equity of 31.68%. The business had revenue of $153.30 million for the quarter, compared to analyst estimates of $147.40 million. During the same period in the previous year, the business earned $1.28 EPS. The firm’s revenue was up 9.2% on a year-over-year basis. As a group, research analysts expect that WD-40 will post 5.42 EPS for the current fiscal year.

WD-40 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $0.94 dividend. The ex-dividend date was Friday, January 17th. This is a positive change from WD-40’s previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a yield of 1.56%. WD-40’s payout ratio is 72.03%.

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.