WD-40 (NASDAQ:WDFC) Sets New 1-Year High – Here’s What Happened

WD-40 (NASDAQ:WDFC) reached a new 52-week high during trading on Tuesday . The company traded as high as $288.76 and last traded at $288.76, with a volume of 15593 shares. The stock had previously closed at $285.92.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Jefferies Financial Group lifted their target price on WD-40 from $250.00 to $280.00 and gave the company a “hold” rating in a research note on Friday, October 18th. DA Davidson lifted their target price on WD-40 from $303.00 to $322.00 and gave the stock a “buy” rating in a report on Friday, October 18th.

WD-40 Stock Down 2.0 %

The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 55.10 and a beta of -0.08. The business has a fifty day moving average price of $262.31 and a two-hundred day moving average price of $246.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.47 and a quick ratio of 1.70.

WD-40 (NASDAQ:WDFC) last announced its earnings results on Thursday, October 17th. The specialty chemicals company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.11). WD-40 had a net margin of 11.79% and a return on equity of 31.53%. The company had revenue of $156.00 million during the quarter, compared to analyst estimates of $149.20 million. During the same quarter last year, the business earned $1.21 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities analysts expect that WD-40 will post 5.36 earnings per share for the current year.

WD-40 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 18th were paid a $0.88 dividend. The ex-dividend date was Friday, October 18th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.26%. WD-40’s payout ratio is presently 68.88%.

Insider Transactions at WD-40

In other news, Director William B. Noble sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $256.98, for a total value of $205,584.00. Following the completion of the sale, the director now directly owns 8,999 shares of the company’s stock, valued at $2,312,563.02. This trade represents a 8.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On WD-40

A number of large investors have recently added to or reduced their stakes in WDFC. Jupiter Asset Management Ltd. purchased a new position in shares of WD-40 in the 1st quarter worth about $20,491,000. Millennium Management LLC boosted its position in shares of WD-40 by 80.5% during the second quarter. Millennium Management LLC now owns 69,650 shares of the specialty chemicals company’s stock worth $15,298,000 after buying an additional 31,055 shares during the period. Lord Abbett & CO. LLC bought a new stake in WD-40 during the first quarter worth approximately $4,180,000. Lazard Asset Management LLC lifted its stake in WD-40 by 83.6% during the first quarter. Lazard Asset Management LLC now owns 26,226 shares of the specialty chemicals company’s stock valued at $6,642,000 after purchasing an additional 11,939 shares during the last quarter. Finally, Radnor Capital Management LLC acquired a new stake in shares of WD-40 during the third quarter valued at approximately $1,960,000. 91.52% of the stock is owned by institutional investors and hedge funds.

About WD-40

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.