WD-40 (NASDAQ:WDFC) Announces Earnings Results, Beats Expectations By $0.07 EPS

WD-40 (NASDAQ:WDFC) released its earnings results on Wednesday. The specialty chemicals company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07, Briefing.com reports. The company had revenue of $155.05 million during the quarter, compared to analysts’ expectations of $145.80 million. WD-40 had a net margin of 12.07% and a return on equity of 32.43%. WD-40’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the business earned $1.38 EPS. WD-40 updated its FY24 guidance to $5.00-5.30 EPS and its FY 2024 guidance to 5.000-5.300 EPS.

WD-40 Price Performance

Shares of NASDAQ WDFC opened at $228.63 on Friday. The firm has a market cap of $3.10 billion, a PE ratio of 44.92 and a beta of -0.07. The firm has a fifty day moving average of $226.31 and a 200 day moving average of $243.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.56 and a current ratio of 2.27. WD-40 has a one year low of $194.09 and a one year high of $278.78.

WD-40 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 19th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, July 19th. WD-40’s payout ratio is presently 69.16%.

Wall Street Analyst Weigh In

Separately, DA Davidson decreased their price objective on shares of WD-40 from $313.00 to $303.00 and set a “buy” rating for the company in a research note on Thursday.

Insider Buying and Selling

In related news, CFO Sara Kathleen Hyzer purchased 213 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was bought at an average price of $232.83 per share, with a total value of $49,592.79. Following the acquisition, the chief financial officer now owns 2,676 shares in the company, valued at $623,053.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Steven A. Brass purchased 432 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was bought at an average price of $232.22 per share, with a total value of $100,319.04. Following the acquisition, the chief executive officer now owns 20,547 shares in the company, valued at $4,771,424.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sara Kathleen Hyzer bought 213 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were acquired at an average cost of $232.83 per share, with a total value of $49,592.79. Following the acquisition, the chief financial officer now directly owns 2,676 shares of the company’s stock, valued at $623,053.08. The disclosure for this purchase can be found here. 0.65% of the stock is owned by insiders.

Institutional Investors Weigh In On WD-40

Large investors have recently modified their holdings of the business. Glenmede Trust Co. NA lifted its position in shares of WD-40 by 17.8% during the third quarter. Glenmede Trust Co. NA now owns 1,862 shares of the specialty chemicals company’s stock worth $378,000 after purchasing an additional 281 shares in the last quarter. Comerica Bank purchased a new position in WD-40 in the third quarter valued at approximately $6,223,000. Graham Capital Management L.P. purchased a new position in WD-40 in the third quarter valued at approximately $526,000. Whittier Trust Co. increased its stake in WD-40 by 2.7% in the fourth quarter. Whittier Trust Co. now owns 38,095 shares of the specialty chemicals company’s stock valued at $9,107,000 after purchasing an additional 985 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in WD-40 by 5.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 19,263 shares of the specialty chemicals company’s stock valued at $4,605,000 after purchasing an additional 920 shares during the last quarter. Hedge funds and other institutional investors own 91.52% of the company’s stock.

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.