Vest Financial LLC Has $4.16 Million Stock Position in WD-40 Company $WDFC

Key Points

• Vest Financial LLC increased its stake in WD-40 by 77.8% to 21,111 shares, a position worth about $4.16 million (roughly 0.16% of the company) at quarter-end.
• WD-40 beat expectations for the quarter with $1.50 EPS vs. $1.39 expected and $161.7M revenue (up 10.7% y/y), announced a $1.02 quarterly dividend (annualized $4.08, ~1.9% yield), and carries an average analyst target of $270 ("Moderate Buy").
• Director David Pendarvis made an insider purchase of 424 shares at $247.15, raising his direct holding to 6,898 shares (a 6.55% increase).

Vest Financial LLC grew its holdings in shares of WD-40 Company (NASDAQ:WDFC - Free Report) by 77.8% during the fourth quarter, according to the company in its most recent filing with the Securities & 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 period. Vest Financial LLC owned about 0.16% of WD-40 worth $4,157,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in WDFC. Quarry LP grew 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 worth $25,000 after purchasing an additional 117 shares in the last quarter. Fortitude Family Office LLC boosted 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 worth $25,000 after acquiring an additional 124 shares in the last quarter. HM Payson & Co. bought a new stake in shares of WD-40 during the third quarter worth about $28,000. Bessemer Group Inc. lifted its holdings in shares of WD-40 by 340.5% during the third quarter. Bessemer Group Inc. now owns 163 shares of the specialty chemicals company's stock worth $32,000 after purchasing an additional 126 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake 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 worth $36,000 after buying an additional 106 shares during the last quarter. Institutional investors and hedge funds own 91.52% of the company's stock.

Insider Transactions at WD-40

In other news, Director David Pendarvis bought 424 shares of the stock in a transaction on Thursday, February 5th. The shares were acquired at an average cost of $247.15 per share, for a total transaction of $104,791.60. Following the purchase, the director directly owned 6,898 shares of the company's stock, valued at $1,704,840.70. This trade represents a 6.55% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. William Blair initiated coverage on WD-40 in a research note on Monday, April 6th. They issued an "outperform" rating on the stock. DA Davidson decreased their price target on shares of WD-40 from $300.00 to $270.00 and set a "buy" rating for the company in a research note on Friday, April 10th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of WD-40 in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $270.00.

WD-40 Stock Down 2.7%

Shares of NASDAQ WDFC opened at $213.42 on Thursday. WD-40 Company has a one year low of $175.38 and a one year 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 business's fifty day moving average price is $221.54 and its 200-day moving average price is $211.25. The stock has a market capitalization of $2.87 billion, a PE ratio of 36.30 and a beta of 0.25.

WD-40 (NASDAQ:WDFC - Get Free Report) last issued its quarterly earnings results on Thursday, April 9th. The specialty chemicals company reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.11. WD-40 had a return on equity of 30.23% and a net margin of 12.57%.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 prior year, the firm earned $1.32 EPS. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that WD-40 Company will post 5.99 EPS for the current year.

WD-40 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, April 17th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, April 17th. This represents a $4.08 annualized dividend and a yield of 1.9%. WD-40's dividend payout ratio (DPR) is 69.39%.

About WD-40

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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