Zacks Investment Research downgraded shares of WD-40 Company (NASDAQ:WDFC) from a buy rating to a hold rating in a report released on Thursday morning.

According to Zacks, “WD-40 Company sells a petroleum-based product, known as WD-40. WD-40 is a multi-purpose product which acts as a lubricant, rust preventative, penetrant, cleaner and moisture displacer. They also sell the 3-IN-ONE Oil. 3-IN-ONE Oil is a lower cost general purpose lubricant that is useful when precise applications of a lubricant are needed. “

WDFC has been the subject of several other research reports. BidaskClub raised shares of WD-40 from a sell rating to a hold rating in a research note on Saturday, June 10th. FBR & Co reaffirmed a marketperform rating on shares of WD-40 in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. WD-40 has a consensus rating of Hold and a consensus target price of $111.25.

WD-40 (NASDAQ:WDFC) opened at 105.25 on Thursday. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 28.44 and a beta of 0.73. WD-40 has a 1-year low of $100.60 and a 1-year high of $121.10. The company has a 50-day moving average of $106.95 and a 200-day moving average of $107.44.

WD-40 (NASDAQ:WDFC) last issued its earnings results on Monday, July 10th. The specialty chemicals company reported $1.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.11. WD-40 had a net margin of 13.85% and a return on equity of 39.64%. The firm had revenue of $98.20 million during the quarter, compared to the consensus estimate of $99.09 million. During the same quarter in the prior year, the firm earned $0.88 earnings per share. The business’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts predict that WD-40 will post $3.68 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 21st were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 1.86%. The ex-dividend date was Wednesday, July 19th. WD-40’s payout ratio is presently 52.97%.

In other WD-40 news, VP Jay Rembolt sold 621 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $108.00, for a total value of $67,068.00. Following the completion of the sale, the vice president now owns 36,428 shares of the company’s stock, valued at $3,934,224. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,854 shares of company stock valued at $203,928 in the last ninety days. Insiders own 3.90% of the company’s stock.

Several large investors have recently modified their holdings of the company. Glen Harbor Capital Management LLC increased its stake in shares of WD-40 by 2.4% in the first quarter. Glen Harbor Capital Management LLC now owns 946 shares of the specialty chemicals company’s stock valued at $103,000 after buying an additional 22 shares in the last quarter. Riverhead Capital Management LLC increased its stake in shares of WD-40 by 45.8% in the second quarter. Riverhead Capital Management LLC now owns 1,166 shares of the specialty chemicals company’s stock valued at $129,000 after buying an additional 366 shares in the last quarter. Elkfork Partners LLC increased its stake in shares of WD-40 by 2.4% in the first quarter. Elkfork Partners LLC now owns 1,204 shares of the specialty chemicals company’s stock valued at $131,000 after buying an additional 28 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of WD-40 during the first quarter valued at about $132,000. Finally, Meadow Creek Investment Management LLC increased its stake in shares of WD-40 by 2.4% in the first quarter. Meadow Creek Investment Management LLC now owns 1,462 shares of the specialty chemicals company’s stock valued at $159,000 after buying an additional 34 shares in the last quarter. 79.42% of the stock is owned by institutional investors.

About WD-40

WD-40 Company is a global company engaged in developing and selling products, which solve problems in workshops, factories and homes. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia-Pacific. The Company’s Americas segment includes the United States, Canada and Latin America.

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