WD-40 (NASDAQ:WDFC) Shares Down 2.8% – Here’s Why

Shares of WD-40 (NASDAQ:WDFC) were down 2.8% on Friday . The company traded as low as $249.81 and last traded at $250.24. Approximately 125,721 shares changed hands during trading, an increase of 20% from the average daily volume of 104,376 shares. The stock had previously closed at $257.54.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on WDFC shares. DA Davidson reissued a “buy” rating and set a $322.00 price objective on shares of WD-40 in a report on Monday, November 18th. Jefferies Financial Group lifted their price target on shares of WD-40 from $250.00 to $280.00 and gave the stock a “hold” rating in a research note on Friday, October 18th.

WD-40 Trading Down 2.5 %

The company has a debt-to-equity ratio of 0.37, a current ratio of 2.47 and a quick ratio of 1.70. The business’s 50 day simple moving average is $271.02 and its 200 day simple moving average is $254.09. The stock has a market cap of $3.40 billion, a P/E ratio of 49.15 and a beta of -0.07.

WD-40 (NASDAQ:WDFC) last announced its quarterly earnings results on Thursday, October 17th. The specialty chemicals company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.11). WD-40 had a net margin of 11.79% and a return on equity of 31.53%. The company had revenue of $156.00 million during the quarter, compared to analyst estimates of $149.20 million. During the same period in the prior year, the firm earned $1.21 EPS. WD-40’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, analysts expect that WD-40 will post 5.36 earnings per share for the current fiscal year.

WD-40 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $0.94 per share. This is an increase from WD-40’s previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a yield of 1.50%. The ex-dividend date is Friday, January 17th. WD-40’s dividend payout ratio (DPR) is currently 73.58%.

Insiders Place Their Bets

In related news, Director William B. Noble sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $256.98, for a total value of $205,584.00. Following the completion of the sale, the director now owns 8,999 shares of the company’s stock, valued at $2,312,563.02. This trade represents a 8.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On WD-40

Several large investors have recently bought and sold shares of the business. Coldstream Capital Management Inc. grew its holdings in WD-40 by 3.3% during the third quarter. Coldstream Capital Management Inc. now owns 1,243 shares of the specialty chemicals company’s stock valued at $321,000 after purchasing an additional 40 shares during the period. Covestor Ltd increased its holdings in WD-40 by 41.3% during the 3rd quarter. Covestor Ltd now owns 226 shares of the specialty chemicals company’s stock worth $58,000 after purchasing an additional 66 shares in the last quarter. Arizona State Retirement System boosted its position in WD-40 by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 3,794 shares of the specialty chemicals company’s stock worth $833,000 after acquiring an additional 68 shares during the last quarter. GAMMA Investing LLC increased its stake in WD-40 by 34.9% in the 3rd quarter. GAMMA Investing LLC now owns 325 shares of the specialty chemicals company’s stock valued at $84,000 after buying an additional 84 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in WD-40 by 28.9% in the third quarter. Blue Trust Inc. now owns 393 shares of the specialty chemicals company’s stock valued at $101,000 after purchasing an additional 88 shares in the last quarter. 91.52% of the stock is currently owned by institutional investors and hedge funds.

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.