Geneva Capital Management LLC Has $60.56 Million Holdings in WD-40 Company (NASDAQ:WDFC)

Key Points

• Geneva Capital Management LLC increased its stake in WD-40 Company by 18.7% in the first quarter, owning 248,197 shares valued at approximately $60.56 million.
• WD-40 Company reported an earnings per share (EPS) of $1.54, surpassing the consensus estimate of $1.40, with a revenue of $156.92 million in its latest earnings report.
• The company recently declared a quarterly dividend of $0.94, which corresponds to an annualized dividend yield of 1.7% and a payout ratio of 59.21%.

Geneva Capital Management LLC lifted its position in shares of WD-40 Company (NASDAQ:WDFC - Free Report) by 18.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 248,197 shares of the specialty chemicals company's stock after purchasing an additional 39,137 shares during the quarter. WD-40 comprises 1.1% of Geneva Capital Management LLC's investment portfolio, making the stock its 29th biggest holding. Geneva Capital Management LLC owned approximately 1.83% of WD-40 worth $60,560,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Ameriflex Group Inc. purchased a new stake in shares of WD-40 in the fourth quarter worth about $25,000. TD Waterhouse Canada Inc. purchased a new stake in WD-40 during the 4th quarter valued at about $27,000. Golden State Wealth Management LLC grew its holdings in WD-40 by 210.6% during the first quarter. Golden State Wealth Management LLC now owns 146 shares of the specialty chemicals company's stock worth $36,000 after acquiring an additional 99 shares during the period. Versant Capital Management Inc boosted its position in WD-40 by 96.1% during the first quarter. Versant Capital Management Inc now owns 149 shares of the specialty chemicals company's stock worth $36,000 after purchasing an additional 73 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of WD-40 by 420.0% in the first quarter. Farther Finance Advisors LLC now owns 156 shares of the specialty chemicals company's stock valued at $38,000 after acquiring an additional 126 shares in the last quarter. 91.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, DA Davidson cut their target price on WD-40 from $322.00 to $300.00 and set a "buy" rating for the company in a research note on Friday, July 11th.

WD-40 Price Performance

Shares of NASDAQ:WDFC traded down $0.96 during trading on Friday, hitting $219.48. 66,097 shares of the stock were exchanged, compared to its average volume of 150,274. WD-40 Company has a 12-month low of $208.00 and a 12-month high of $292.36. The company has a current ratio of 2.84, a quick ratio of 2.02 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average price of $230.14 and a two-hundred day moving average price of $233.12. The company has a market cap of $2.97 billion, a PE ratio of 34.56 and a beta of 0.15.

WD-40 (NASDAQ:WDFC - Get Free Report) last posted its quarterly earnings data on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.14. WD-40 had a net margin of 14.13% and a return on equity of 31.23%. The company had revenue of $156.92 million during the quarter, compared to analysts' expectations of $160.60 million. During the same period in the prior year, the company posted $1.46 EPS. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. On average, analysts forecast that WD-40 Company will post 5.42 EPS for the current year.

WD-40 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 18th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, July 18th. WD-40's dividend payout ratio (DPR) is presently 59.21%.

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.