Geneva Capital Management LLC Grows Stock Holdings in WD-40 (NASDAQ:WDFC)

Geneva Capital Management LLC lifted its position in shares of WD-40 (NASDAQ:WDFC) by 0.5% in the third quarter, HoldingsChannel.com reports. The firm owned 211,624 shares of the specialty chemicals company’s stock after purchasing an additional 988 shares during the period. Geneva Capital Management LLC’s holdings in WD-40 were worth $54,574,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in WD-40 during the 3rd quarter valued at approximately $29,000. DekaBank Deutsche Girozentrale bought a new position in shares of WD-40 during the first quarter valued at approximately $34,000. Advisors Asset Management Inc. purchased a new stake in WD-40 in the first quarter worth $43,000. Covestor Ltd boosted its holdings in WD-40 by 57.7% in the first quarter. Covestor Ltd now owns 216 shares of the specialty chemicals company’s stock valued at $55,000 after acquiring an additional 79 shares in the last quarter. Finally, Blue Trust Inc. bought a new stake in WD-40 in the second quarter valued at $67,000. 91.52% of the stock is owned by institutional investors.

WD-40 Trading Up 1.5 %

NASDAQ WDFC opened at $290.11 on Wednesday. The firm has a market capitalization of $3.93 billion, a PE ratio of 56.77 and a beta of -0.08. The stock’s 50 day moving average is $261.24 and its 200 day moving average is $245.88. WD-40 has a twelve month low of $211.03 and a twelve month high of $290.27. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.37.

WD-40 (NASDAQ:WDFC) last announced its earnings results on Thursday, October 17th. The specialty chemicals company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.11). The business had revenue of $156.00 million for the quarter, compared to the consensus estimate of $149.20 million. WD-40 had a net margin of 11.79% and a return on equity of 31.53%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 EPS. Research analysts forecast that WD-40 will post 5.36 earnings per share for the current fiscal year.

WD-40 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 18th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Friday, October 18th. WD-40’s dividend payout ratio is 68.88%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Jefferies Financial Group upped their price objective on shares of WD-40 from $250.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, October 18th. DA Davidson increased their price target on shares of WD-40 from $303.00 to $322.00 and gave the stock a “buy” rating in a research note on Friday, October 18th.

Insider Activity

In related news, Director William B. Noble sold 800 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $256.98, for a total value of $205,584.00. Following the sale, the director now owns 8,999 shares in the company, valued at $2,312,563.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.65% of the company’s stock.

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.