WD-40 Company (WDFC) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of WD-40 Company (NASDAQ:WDFC) from a hold rating to a buy rating in a report published on Friday. The firm currently has $119.00 price target on the specialty chemicals company’s stock.
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 a number of other reports. BidaskClub raised shares of WD-40 from a hold rating to a buy rating in a report on Tuesday, June 20th. FBR & Co reaffirmed a marketperform rating on shares of WD-40 in a report on Tuesday, July 11th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. WD-40 has an average rating of Hold and an average target price of $111.25.
WD-40 (WDFC) opened at 108.15 on Friday. The firm’s 50-day moving average price is $106.54 and its 200-day moving average price is $107.47. The firm has a market capitalization of $1.52 billion, a PE ratio of 29.22 and a beta of 0.73. WD-40 has a 1-year low of $100.60 and a 1-year high of $121.10.
WD-40 (NASDAQ:WDFC) last released its quarterly earnings data on Monday, July 10th. The specialty chemicals company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. The company had revenue of $98.20 million during the quarter, compared to the consensus estimate of $99.09 million. WD-40 had a net margin of 13.85% and a return on equity of 39.64%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.88 EPS. On average, equities research analysts predict that WD-40 will post $3.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, July 21st were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Wednesday, July 19th. WD-40’s dividend payout ratio (DPR) is currently 52.97%.
In related news, VP Jay Rembolt sold 621 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $108.00, for a total transaction of $67,068.00. Following the completion of the sale, the vice president now owns 36,428 shares in the company, valued at approximately $3,934,224. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 1,854 shares of company stock valued at $203,928 in the last quarter. 3.90% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Glen Harbor Capital Management LLC boosted 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 worth $103,000 after buying an additional 22 shares during the period. Riverhead Capital Management LLC boosted 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 worth $129,000 after buying an additional 366 shares during the period. Elkfork Partners LLC boosted 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 worth $131,000 after buying an additional 28 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of WD-40 during the first quarter worth about $132,000. Finally, Meadow Creek Investment Management LLC boosted 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 worth $159,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 80.60% of the company’s stock.
WD-40 Company Profile
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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