Conestoga Capital Advisors LLC Trims Stock Position in WD-40 Company $WDFC

Key Points

• Conestoga Capital Advisors trimmed its stake in WD‑40 by 4.4% in Q4, selling 13,757 shares and ending the period with 296,847 shares (≈2.20% of the company) valued at about $58.45 million.
• WD‑40 beat Q2 expectations with EPS of $1.50 versus $1.39 estimated and revenue of $161.67 million (up 10.7% year‑over‑year); analysts project about 5.99 EPS for the current fiscal year.
• Wall Street consensus is a “Moderate Buy” with a consensus target price of $270, after DA Davidson cut its target from $300 to $270 and William Blair initiated coverage with an “outperform” rating.

Conestoga Capital Advisors LLC lessened its holdings in shares of WD-40 Company (NASDAQ:WDFC - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 296,847 shares of the specialty chemicals company's stock after selling 13,757 shares during the period. Conestoga Capital Advisors LLC owned approximately 2.20% of WD-40 worth $58,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Quarry LP grew its position in WD-40 by 1,462.5% during the third quarter. Quarry LP now owns 125 shares of the specialty chemicals company's stock valued at $25,000 after buying an additional 117 shares during the period. Fortitude Family Office LLC grew its position in WD-40 by 4,133.3% during the fourth 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 during the period. HM Payson & Co. acquired a new stake in WD-40 during the third quarter valued at $28,000. EverSource Wealth Advisors LLC grew its position in WD-40 by 207.8% during the second 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 during the period. Finally, Bessemer Group Inc. grew its position in WD-40 by 340.5% during the third 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 during the period. Hedge funds and other institutional investors own 91.52% of the company's stock.

Wall Street Analyst Weigh In

WDFC has been the topic of several analyst reports. DA Davidson dropped their price target on shares of WD-40 from $300.00 to $270.00 and set a "buy" rating on the stock in a research report on Friday, April 10th. Weiss Ratings restated a "hold (c)" rating on shares of WD-40 in a research report on Wednesday, January 21st. Finally, William Blair initiated coverage on shares of WD-40 in a research report on Monday, April 6th. They set an "outperform" rating on the stock. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, WD-40 presently has a consensus rating of "Moderate Buy" and a consensus target price of $270.00.

Insider Activity

In related news, Director David Pendarvis bought 424 shares of the company's stock in a transaction dated Thursday, February 5th. The shares were acquired 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 in the company, valued at $1,704,840.70. This trade represents a 6.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.78% of the stock is currently owned by company insiders.

WD-40 Stock Down 1.6%

Shares of NASDAQ WDFC opened at $209.96 on Friday. The company's 50-day simple moving average is $220.98 and its 200-day simple moving average is $211.24. WD-40 Company has a 52-week low of $175.38 and a 52-week high of $253.24. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 35.71 and a beta of 0.25. The company has a quick ratio of 1.98, a current ratio of 2.83 and a debt-to-equity ratio of 0.32.

WD-40 (NASDAQ:WDFC - Get Free Report) last announced its earnings results on Thursday, April 9th. The specialty chemicals company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.11. WD-40 had a net margin of 12.57% and a return on equity of 30.23%. The business had revenue of $161.67 million for the quarter, compared to analyst estimates of $154.90 million. During the same quarter last year, the business earned $1.32 earnings per share. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts predict that WD-40 Company will post 5.99 EPS for the current fiscal year.

WD-40 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Friday, April 17th were given a $1.02 dividend. The ex-dividend date was Friday, April 17th. This represents a $4.08 annualized dividend and a dividend yield of 1.9%. WD-40's dividend payout ratio (DPR) is 69.39%.

WD-40 Company 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.

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