Geneva Capital Management LLC Purchases 39,137 Shares of 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 boosted its position in WD-40 Company (NASDAQ:WDFC - Free Report) by 18.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 248,197 shares of the specialty chemicals company's stock after buying an additional 39,137 shares during the quarter. WD-40 makes up about 1.1% of Geneva Capital Management LLC's portfolio, making the stock its 29th biggest position. Geneva Capital Management LLC owned about 1.83% of WD-40 worth $60,560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of WD-40 by 28,448.0% during the 1st quarter. GAMMA Investing LLC now owns 114,192 shares of the specialty chemicals company's stock worth $27,863,000 after purchasing an additional 113,792 shares during the last quarter. Millennium Management LLC increased its position in shares of WD-40 by 206.9% during the 4th quarter. Millennium Management LLC now owns 158,156 shares of the specialty chemicals company's stock worth $38,381,000 after purchasing an additional 106,617 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of WD-40 during the 4th quarter worth approximately $17,903,000. GCQ FUNDS MANAGEMENT PTY Ltd increased its position in shares of WD-40 by 245.0% during the 1st quarter. GCQ FUNDS MANAGEMENT PTY Ltd now owns 64,423 shares of the specialty chemicals company's stock worth $15,719,000 after purchasing an additional 45,747 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of WD-40 during the 4th quarter worth approximately $10,179,000. Institutional investors and hedge funds own 91.52% of the company's stock.

WD-40 Stock Performance

Shares of WDFC stock traded up $1.07 during trading on Thursday, reaching $220.44. 86,720 shares of the company's stock were exchanged, compared to its average volume of 151,033. The company has a quick ratio of 2.02, a current ratio of 2.84 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $2.98 billion, a PE ratio of 34.72 and a beta of 0.15. WD-40 Company has a twelve month low of $208.00 and a twelve month high of $292.36. The firm's fifty day moving average price is $230.55 and its 200-day moving average price is $233.19.

WD-40 (NASDAQ:WDFC - Get Free Report) last posted its earnings results on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.14. The business had revenue of $156.92 million for the quarter, compared to analyst estimates of $160.60 million. WD-40 had a return on equity of 31.23% and a net margin of 14.13%. The firm's revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. As a group, sell-side analysts anticipate 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. The ex-dividend date of this dividend was Friday, July 18th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.7%. WD-40's payout ratio is presently 59.21%.

Wall Street Analysts Forecast Growth

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

WD-40 Company 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.