WD-40 (NASDAQ:WDFC) Shares Down 0.4%

Shares of WD-40 (NASDAQ:WDFC) dropped 0.4% on Wednesday . The company traded as low as $224.17 and last traded at $225.22. Approximately 14,426 shares were traded during trading, a decline of 89% from the average daily volume of 133,807 shares. The stock had previously closed at $226.17.

Analyst Upgrades and Downgrades

Separately, DA Davidson reaffirmed a “buy” rating and set a $313.00 price target on shares of WD-40 in a report on Wednesday, April 10th.

WD-40 Stock Down 0.7 %

The company has a market cap of $3.05 billion, a price-to-earnings ratio of 44.95 and a beta of -0.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.56. The firm has a 50-day moving average price of $250.25 and a 200 day moving average price of $242.25.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Tuesday, April 9th. The specialty chemicals company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.01. The business had revenue of $139.10 million during the quarter, compared to the consensus estimate of $140.51 million. WD-40 had a return on equity of 32.30% and a net margin of 12.19%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 EPS. Sell-side analysts predict that WD-40 will post 5.22 EPS for the current year.

WD-40 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 19th will be paid a $0.88 dividend. The ex-dividend date is Thursday, April 18th. This represents a $3.52 annualized dividend and a dividend yield of 1.56%. WD-40’s dividend payout ratio (DPR) is presently 70.26%.

Insiders Place Their Bets

In other WD-40 news, VP Jeffrey G. Lindeman bought 182 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $272.42 per share, for a total transaction of $49,580.44. Following the transaction, the vice president now directly owns 3,073 shares in the company, valued at approximately $837,146.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Steven A. Brass purchased 432 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were bought 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 of the company’s stock, valued at $4,771,424.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeffrey G. Lindeman purchased 182 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average cost of $272.42 per share, with a total value of $49,580.44. Following the purchase, the vice president now owns 3,073 shares of the company’s stock, valued at $837,146.66. The disclosure for this purchase can be found here. Insiders acquired 942 shares of company stock worth $226,897 in the last quarter. 0.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WD-40

Several hedge funds have recently bought and sold shares of WDFC. New York State Teachers Retirement System lifted its holdings in shares of WD-40 by 2.6% during the 1st quarter. New York State Teachers Retirement System now owns 21,946 shares of the specialty chemicals company’s stock worth $5,559,000 after acquiring an additional 549 shares during the period. Simplicity Wealth LLC acquired a new position in WD-40 during the first quarter valued at approximately $1,034,000. Allspring Global Investments Holdings LLC lifted its stake in WD-40 by 152.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,689 shares of the specialty chemicals company’s stock worth $428,000 after purchasing an additional 1,020 shares during the last quarter. Bridge City Capital LLC lifted its stake in WD-40 by 0.8% during the first quarter. Bridge City Capital LLC now owns 5,991 shares of the specialty chemicals company’s stock worth $1,518,000 after purchasing an additional 45 shares during the last quarter. Finally, Profit Investment Management LLC boosted its holdings in shares of WD-40 by 32.5% in the 1st quarter. Profit Investment Management LLC now owns 16,024 shares of the specialty chemicals company’s stock valued at $4,059,000 after purchasing an additional 3,926 shares in the last quarter. 91.52% of the stock is owned by institutional investors.

About WD-40

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.