Shares of WD-40 Company (NASDAQ:WDFC – Get Free Report) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $220.04 and traded as low as $218.87. WD-40 shares last traded at $219.50, with a volume of 74,282 shares.
Analysts Set New Price Targets
Several brokerages have recently issued reports on WDFC. Zacks Research cut shares of WD-40 from a “strong-buy” rating to a “hold” rating in a report on Friday, September 11th. Weiss Ratings downgraded WD-40 from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $305.00.
Check Out Our Latest Analysis on WD-40
WD-40 Stock Performance
The company has a market cap of $2.94 billion, a PE ratio of 36.10 and a beta of 0.27. The stock’s 50-day simple moving average is $206.18 and its 200 day simple moving average is $220.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.57.
WD-40 (NASDAQ:WDFC – Get Free Report) last released its earnings results on Wednesday, October 21st. The specialty chemicals company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.07). The business had revenue of $176.78 million for the quarter, compared to analyst estimates of $172.07 million. WD-40 had a return on equity of 30.84% and a net margin of 11.97%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.56 EPS. As a group, equities analysts anticipate that WD-40 Company will post 6.55 EPS for the current year.
WD-40 Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Monday, October 19th were paid a $1.02 dividend. The ex-dividend date was Monday, October 19th. This represents a $4.08 annualized dividend and a dividend yield of 1.9%. WD-40’s dividend payout ratio (DPR) is 67.11%.
Institutional Investors Weigh In On WD-40
Institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in WD-40 in the 2nd quarter valued at approximately $505,734,000. Advisors Asset Management Inc. acquired a new position in shares of WD-40 during the 3rd quarter worth $25,854,000. First Trust Advisors LP grew its stake in WD-40 by 41.9% in the 1st quarter. First Trust Advisors LP now owns 411,312 shares of the specialty chemicals company’s stock valued at $83,883,000 after acquiring an additional 121,358 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of WD-40 in the second quarter valued at about $29,162,000. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of WD-40 in the second quarter valued at approximately $9,155,000. Hedge funds and other institutional investors own 91.52% of the company’s stock.
About WD-40
WD-40 Company develops and markets maintenance, cleaning and personal-care products for consumers and industrial users. Its best-known product is WD-40 Multi-Use Product, which is used to protect metal from corrosion, displace moisture, lubricate and loosen stuck parts. The company also sells products under brands including WD-40 Specialist and 3-IN-ONE. Founded in 1953 as Rocket Chemical Company, the business initially developed products for the aerospace industry. Its name later changed to WD-40 Company, reflecting the formula that became its signature product.
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