GCQ FUNDS MANAGEMENT PTY Ltd Purchases 104,282 Shares of WD-40 Company $WDFC

Key Points

• GCQ FUNDS MANAGEMENT PTY Ltd boosted its WD-40 position by 89.2% in the fourth quarter, buying 104,282 additional shares and bringing its stake to 221,225 shares worth about $43.6 million.
• WD-40 reported better-than-expected quarterly results, posting EPS of $1.50 versus $1.39 expected and revenue of $161.67 million, up 10.7% year over year.
• The company also paid a quarterly dividend of $1.02 per share, equal to a 2.0% yield, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $270.

GCQ FUNDS MANAGEMENT PTY Ltd grew its position in WD-40 Company (NASDAQ:WDFC - Free Report) by 89.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 221,225 shares of the specialty chemicals company's stock after purchasing an additional 104,282 shares during the quarter. WD-40 makes up 6.0% of GCQ FUNDS MANAGEMENT PTY Ltd's investment portfolio, making the stock its 8th largest position. GCQ FUNDS MANAGEMENT PTY Ltd owned approximately 1.64% of WD-40 worth $43,559,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP raised its holdings in shares of WD-40 by 1,462.5% in the 3rd quarter. Quarry LP now owns 125 shares of the specialty chemicals company's stock valued at $25,000 after purchasing an additional 117 shares in the last quarter. Fortitude Family Office LLC raised its holdings in shares of WD-40 by 4,133.3% in the 4th quarter. Fortitude Family Office LLC now owns 127 shares of the specialty chemicals company's stock valued at $25,000 after purchasing an additional 124 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of WD-40 by 207.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 157 shares of the specialty chemicals company's stock valued at $36,000 after purchasing an additional 106 shares in the last quarter. Bessemer Group Inc. grew its position in shares of WD-40 by 340.5% in 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 during the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in shares of WD-40 by 400.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 215 shares of the specialty chemicals company's stock valued at $42,000 after buying an additional 172 shares during the last quarter. 91.52% of the stock is currently owned by institutional investors and hedge funds.

WD-40 Trading Down 0.8%

NASDAQ WDFC opened at $208.05 on Friday. WD-40 Company has a 12 month low of $175.38 and a 12 month high of $253.24. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.83 and a quick ratio of 1.98. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 35.38 and a beta of 0.33. The firm's fifty day moving average price is $219.06 and its 200 day moving average price is $211.90.

WD-40 (NASDAQ:WDFC - Get Free Report) last issued its quarterly earnings data on Thursday, April 9th. The specialty chemicals company reported $1.50 earnings per share (EPS) for the quarter, topping 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 company had revenue of $161.67 million for the quarter, compared to the consensus estimate of $154.90 million. During the same period last year, the firm posted $1.32 EPS. WD-40's revenue for the quarter was up 10.7% on a year-over-year basis. On average, sell-side analysts expect that WD-40 Company will post 5.99 earnings per share for the current fiscal year.

WD-40 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Friday, April 17th were given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, April 17th. WD-40's dividend payout ratio (DPR) is presently 69.39%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WDFC shares. DA Davidson dropped their target price 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 reaffirmed a "hold (c)" rating on shares of WD-40 in a research report on Wednesday, January 21st. Finally, William Blair started coverage on shares of WD-40 in a research report on Monday, April 6th. They issued 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 company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $270.00.

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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