WD-40 Co. (WDFC) Trading 0.5% Higher After Dividend Announcement
WD-40 Co. (NASDAQ:WDFC) traded up 0.5% during trading on Tuesday after the company announced a dividend. The company traded as high as $112.68 and last traded at $112.33, with a volume of 82,322 shares changing hands. The stock had previously closed at $111.75.
The newly announced dividend which will be paid on Monday, October 31st. Investors of record on Friday, October 21st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.49%. WD-40’s dividend payout ratio (DPR) is 48.70%.
A number of equities analysts recently commented on the stock. B. Riley reissued a “neutral” rating and issued a $106.00 price objective on shares of WD-40 in a research note on Monday, July 11th. Zacks Investment Research raised WD-40 from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. Finally, Jefferies Group started coverage on WD-40 in a research report on Thursday, August 25th. They set a “hold” rating and a $120.00 price target on the stock.
The firm’s 50 day moving average price is $115.75 and its 200 day moving average price is $112.52. The company has a market cap of $1.60 billion, a PE ratio of 32.61 and a beta of 0.71.
In related news, Director Mario L. Crivello sold 9,000 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $120.06, for a total transaction of $1,080,540.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jay Rembolt sold 570 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $117.00, for a total transaction of $66,690.00. Following the transaction, the vice president now directly owns 34,966 shares of the company’s stock, valued at approximately $4,091,022. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Mason Street Advisors LLC bought a new position in WD-40 during the second quarter worth $306,000. Schwab Charles Investment Management Inc. boosted its position in WD-40 by 4.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 64,200 shares of the company’s stock worth $7,541,000 after buying an additional 2,958 shares during the last quarter. AHL Partners LLP bought a new position in WD-40 during the second quarter worth $669,000. AQR Capital Management LLC boosted its position in WD-40 by 74.2% in the second quarter. AQR Capital Management LLC now owns 14,162 shares of the company’s stock worth $1,664,000 after buying an additional 6,032 shares during the last quarter. Finally, Barclays PLC boosted its position in WD-40 by 20,162.9% in the second quarter. Barclays PLC now owns 12,563 shares of the company’s stock worth $1,475,000 after buying an additional 12,501 shares during the last quarter. 75.97% of the stock is owned by hedge funds and other institutional investors.
WD-40 Company Profile
WD-40 Company, is a global consumer Products Company. As of August 31, 2012, the Company’s products included WD-40 Smart Straw, WD-40 Trigger Pro, 3-IN-ONE Professional Garage Door Lube, Spot Shot Pet Clean which is a non-aerosol Spot Shot trigger product, and a mildew stain remover under the X-14 brand.
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