WD-40 Company (NASDAQ:WDFC – Get Free Report) announced a quarterly dividend on Thursday, October 8th. Stockholders of record on Monday, October 19th will be given a dividend of $1.02 per share by the specialty chemicals company on Friday, October 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, October 19th.
WD-40 has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 17 consecutive years. WD-40 has a dividend payout ratio of 68.3% meaning its dividend is sufficiently covered by earnings. Analysts expect WD-40 to earn $6.47 per share next year, which means the company should continue to be able to cover its $4.08 annual dividend with an expected future payout ratio of 63.1%.
WD-40 Trading Up 1.2%
Shares of WDFC stock opened at $203.90 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.65 and a quick ratio of 1.95. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 30.99 and a beta of 0.27. The stock has a 50 day simple moving average of $211.34 and a 200-day simple moving average of $217.28. WD-40 has a 1-year low of $175.38 and a 1-year high of $298.90.
Insider Activity
In other news, insider Patricia Olsem sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $234.72, for a total transaction of $46,944.00. Following the completion of the sale, the insider owned 4,574 shares in the company, valued at $1,073,609.28. This trade represents a 4.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.78% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in WDFC. BlackRock Inc. acquired a new position in shares of WD-40 in the 2nd quarter valued at $505,734,000. First Trust Advisors LP grew its holdings in shares of WD-40 by 41.9% during the 1st quarter. First Trust Advisors LP now owns 411,312 shares of the specialty chemicals company’s stock worth $83,883,000 after purchasing an additional 121,358 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of WD-40 during the 2nd quarter worth about $29,162,000. Ceredex Value Advisors LLC acquired a new stake in shares of WD-40 during the 2nd quarter worth about $9,155,000. Finally, DRH Investments Inc. purchased a new stake in WD-40 in the 4th quarter valued at about $7,264,000. 91.52% of the stock is currently owned by institutional investors and hedge funds.
About WD-40
WD-40 Company develops and markets maintenance, cleaning, and homecare products for consumer, professional, and industrial users. Its best-known product is WD-40 Multi-Use Product, a water-displacing formula used to loosen stuck parts, protect against corrosion, remove residue, and lubricate equipment.
The company also offers specialty maintenance products under the WD-40 Specialist brand, as well as products marketed under brands such as 3-IN-ONE, GT85, and 1001. These products serve automotive, industrial, marine, construction, household, and do-it-yourself applications.
Founded in 1953 and headquartered in San Diego, California, WD-40 Company sells its products through retailers, distributors, and industrial channels in markets around the world.
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