WD-40 Co. (NASDAQ:WDFC) issued its earnings results on Wednesday. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.82 by $0.17. The company earned $97.20 million during the quarter, compared to analysts’ expectations of $97.47 million. WD-40 had a net margin of 13.35% and a return on equity of 32.92%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS.
Shares of WD-40 (NASDAQ:WDFC) traded down 2.50% during trading on Wednesday, hitting $106.42. 127,905 shares of the stock traded hands. WD-40 has a 1-year low of $92.82 and a 1-year high of $125.00. The firm has a 50-day moving average of $114.55 and a 200-day moving average of $112.58. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 30.85 and a beta of 0.71.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, October 21st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Wednesday, October 19th. WD-40’s dividend payout ratio (DPR) is 48.70%.
Several analysts have commented on WDFC shares. Jefferies Group started coverage on shares of WD-40 in a research report on Thursday, August 25th. They set a “hold” rating and a $120.00 target price for the company. Zacks Investment Research upgraded shares of WD-40 from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. Finally, B. Riley reiterated a “neutral” rating and set a $106.00 target price on shares of WD-40 in a research report on Monday, July 11th.
In other news, VP Jay Rembolt sold 570 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $117.00, for a total transaction of $66,690.00. Following the completion of the transaction, the vice president now owns 34,966 shares of the company’s stock, valued at $4,091,022. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mario L. Crivello sold 400 shares of the firm’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $119.57, for a total transaction of $47,828.00. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in WDFC. GAM Holding AG acquired a new position in WD-40 during the second quarter valued at about $164,000. Advisor Group Inc. acquired a new position in WD-40 during the second quarter valued at about $165,000. BlackRock Inc. increased its position in WD-40 by 63.8% in the second quarter. BlackRock Inc. now owns 1,600 shares of the company’s stock valued at $188,000 after buying an additional 623 shares during the last quarter. Raymond James & Associates increased its position in WD-40 by 30.6% in the second quarter. Raymond James & Associates now owns 2,936 shares of the company’s stock valued at $345,000 after buying an additional 688 shares during the last quarter. Finally, Greenwich Wealth Management LLC acquired a new position in WD-40 during the second quarter valued at about $370,000. 75.93% of the stock is owned by hedge funds and other institutional investors.
WD-40 Company Profile
WD-40 Company, is a global consumer Products Company. As of August 31, 2012, the Company’s products included WD-40 Smart Straw, WD-40 Trigger Pro, 3-IN-ONE Professional Garage Door Lube, Spot Shot Pet Clean which is a non-aerosol Spot Shot trigger product, and a mildew stain remover under the X-14 brand.
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