WD-40 (NASDAQ:WDFC) Shares Down 1%

WD-40 (NASDAQ:WDFC) fell 1% on Monday . The stock traded as low as $227.55 and last traded at $227.55. 9,749 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 133,819 shares. The stock had previously closed at $229.85.

Analyst Upgrades and Downgrades

Separately, DA Davidson reissued a “buy” rating and issued a $313.00 price target on shares of WD-40 in a research note on Wednesday, April 10th.

WD-40 Stock Performance

The company has a market cap of $3.06 billion, a P/E ratio of 45.14 and a beta of -0.06. The company has a 50 day moving average price of $251.76 and a 200-day moving average price of $242.48. The company has a quick ratio of 1.56, a current ratio of 2.27 and a debt-to-equity ratio of 0.40.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Tuesday, April 9th. The specialty chemicals company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.01. WD-40 had a return on equity of 32.30% and a net margin of 12.19%. The company had revenue of $139.10 million during the quarter, compared to analysts’ expectations of $140.51 million. During the same quarter in the prior year, the business posted $1.21 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts expect that WD-40 will post 5.22 EPS for the current fiscal year.

WD-40 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 19th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, April 18th. This represents a $3.52 annualized dividend and a yield of 1.56%. WD-40’s dividend payout ratio is currently 70.26%.

Insider Activity at WD-40

In other news, CEO Steven A. Brass bought 432 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was acquired at an average price of $232.22 per share, with a total value of $100,319.04. Following the completion of the purchase, the chief executive officer now directly owns 20,547 shares of the company’s stock, valued at approximately $4,771,424.34. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, Director David Pendarvis bought 328 shares of WD-40 stock in a transaction dated Friday, April 12th. The stock was acquired at an average cost of $234.75 per share, with a total value of $76,998.00. Following the completion of the acquisition, the director now directly owns 4,934 shares in the company, valued at approximately $1,158,256.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven A. Brass bought 432 shares of WD-40 stock in a transaction dated Tuesday, April 16th. The shares were bought at an average cost of $232.22 per share, with a total value of $100,319.04. Following the completion of the acquisition, the chief executive officer now owns 20,547 shares of the company’s stock, valued at $4,771,424.34. The disclosure for this purchase can be found here. Insiders bought 942 shares of company stock valued at $226,897 over the last 90 days. 0.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On WD-40

Several hedge funds have recently modified their holdings of the stock. Bridge City Capital LLC lifted its holdings in shares of WD-40 by 0.8% during the first quarter. Bridge City Capital LLC now owns 5,991 shares of the specialty chemicals company’s stock valued at $1,518,000 after purchasing an additional 45 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of WD-40 by 1.3% during the third quarter. Arizona State Retirement System now owns 3,861 shares of the specialty chemicals company’s stock valued at $785,000 after purchasing an additional 49 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of WD-40 by 2.0% during the third quarter. State Board of Administration of Florida Retirement System now owns 3,932 shares of the specialty chemicals company’s stock valued at $799,000 after purchasing an additional 78 shares during the last quarter. Stokes Family Office LLC lifted its stake in WD-40 by 7.8% in the 3rd quarter. Stokes Family Office LLC now owns 1,156 shares of the specialty chemicals company’s stock worth $235,000 after acquiring an additional 84 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in WD-40 by 1.4% in the 4th quarter. New York State Common Retirement Fund now owns 7,268 shares of the specialty chemicals company’s stock worth $1,738,000 after acquiring an additional 99 shares in the last quarter. 91.52% of the stock is owned by hedge funds and other institutional investors.

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.