WD-40 (NASDAQ:WDFC) Stock Rating Reaffirmed by DA Davidson

DA Davidson restated their buy rating on shares of WD-40 (NASDAQ:WDFCFree Report) in a research report released on Tuesday, Benzinga reports. DA Davidson currently has a $313.00 price target on the specialty chemicals company’s stock.

WD-40 Stock Down 0.4 %

WDFC stock opened at $223.53 on Tuesday. The company has a current ratio of 2.27, a quick ratio of 1.56 and a debt-to-equity ratio of 0.40. WD-40 has a twelve month low of $182.53 and a twelve month high of $278.78. The company’s 50 day moving average is $229.23 and its two-hundred day moving average is $245.08. The stock has a market cap of $3.03 billion, a P/E ratio of 44.62 and a beta of -0.07.

WD-40 (NASDAQ:WDFCGet Free Report) last announced 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 for the quarter, compared to analyst estimates of $140.51 million. WD-40 had a net margin of 12.19% and a return on equity of 32.30%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. Research analysts expect that WD-40 will post 5.22 earnings per share for the current fiscal year.

WD-40 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 19th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, July 19th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.57%. WD-40’s dividend payout ratio (DPR) is presently 70.26%.

Insider Transactions at WD-40

In other WD-40 news, CEO Steven A. Brass bought 432 shares of the stock in a transaction dated Tuesday, April 16th. The shares were acquired at an average cost of $232.22 per share, for a total transaction of $100,319.04. Following the completion of the transaction, the chief executive officer now owns 20,547 shares in the company, valued at approximately $4,771,424.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Sara Kathleen Hyzer acquired 213 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were purchased at an average cost of $232.83 per share, for a total transaction of $49,592.79. Following the transaction, the chief financial officer now directly owns 2,676 shares in the company, valued at approximately $623,053.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Steven A. Brass acquired 432 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was purchased at an average price of $232.22 per share, for a total transaction of $100,319.04. Following the completion of the transaction, the chief executive officer now owns 20,547 shares in the company, valued at $4,771,424.34. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 973 shares of company stock worth $226,910. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On WD-40

Hedge funds and other institutional investors have recently bought and sold shares of the company. YHB Investment Advisors Inc. purchased a new position in WD-40 in the 1st quarter valued at $33,000. DekaBank Deutsche Girozentrale acquired a new stake in WD-40 in the first quarter valued at $34,000. GAMMA Investing LLC acquired a new stake in WD-40 in the fourth quarter valued at $44,000. Advisors Asset Management Inc. acquired a new stake in WD-40 in the first quarter valued at $43,000. Finally, Covestor Ltd lifted its holdings in WD-40 by 57.7% in the first quarter. Covestor Ltd now owns 216 shares of the specialty chemicals company’s stock valued at $55,000 after acquiring an additional 79 shares during the period. 91.52% of the stock is currently owned by hedge funds and other institutional investors.

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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