WD-40 (NASDAQ:WDFC) Stock Price Down 4%

WD-40 (NASDAQ:WDFCGet Free Report) dropped 4% during mid-day trading on Monday . The company traded as low as $215.10 and last traded at $215.38. Approximately 63,279 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 115,466 shares. The stock had previously closed at $224.39.

Analysts Set New Price Targets

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

Get Our Latest Analysis on WD-40

WD-40 Trading Up 0.9 %

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.56 and a current ratio of 2.27. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 44.29 and a beta of -0.07. The business’s 50-day simple moving average is $232.77 and its 200-day simple moving average is $246.01.

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

WD-40 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, April 19th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Thursday, April 18th. WD-40’s payout ratio is currently 70.26%.

Insider Buying and Selling

In other WD-40 news, Director David Pendarvis bought 328 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were purchased at an average price of $234.75 per share, for a total transaction of $76,998.00. Following the completion of the transaction, the director now directly owns 4,934 shares in the company, valued at approximately $1,158,256.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Sara Kathleen Hyzer purchased 213 shares of WD-40 stock in a transaction dated Thursday, May 9th. The shares were bought at an average cost of $232.83 per share, for a total transaction of $49,592.79. Following the completion of the acquisition, the chief financial officer now owns 2,676 shares in the company, valued at approximately $623,053.08. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Pendarvis purchased 328 shares of WD-40 stock in a transaction dated Friday, April 12th. The shares were purchased at an average price of $234.75 per share, for a total transaction of $76,998.00. Following the completion of the acquisition, the director now owns 4,934 shares of the company’s stock, valued at approximately $1,158,256.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 973 shares of company stock worth $226,910. Company insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On WD-40

A number of hedge funds and other institutional investors have recently made changes to their positions in WDFC. Vanguard Group Inc. lifted its stake in shares of WD-40 by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,623,994 shares of the specialty chemicals company’s stock worth $411,374,000 after acquiring an additional 6,532 shares during the period. Conestoga Capital Advisors LLC lifted its stake in shares of WD-40 by 0.6% in the first quarter. Conestoga Capital Advisors LLC now owns 316,272 shares of the specialty chemicals company’s stock worth $80,115,000 after acquiring an additional 1,910 shares during the period. APG Asset Management US Inc. acquired a new position in WD-40 in the fourth quarter valued at approximately $38,142,000. Northern Trust Corp lifted its stake in WD-40 by 2.2% in the third quarter. Northern Trust Corp now owns 152,552 shares of the specialty chemicals company’s stock valued at $31,005,000 after buying an additional 3,334 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in WD-40 by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 136,121 shares of the specialty chemicals company’s stock valued at $32,542,000 after buying an additional 2,765 shares during the period. 91.52% of the stock is owned by institutional investors and hedge funds.

WD-40 Company Profile

(Get Free Report)

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.

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