WD-40’s (WDFC) “Neutral” Rating Reiterated at B. Riley

B. Riley reaffirmed their neutral rating on shares of WD-40 (NASDAQ:WDFC) in a research report sent to investors on Friday, Marketbeat.com reports. They currently have a $135.00 price target on the specialty chemicals company’s stock, up from their previous price target of $125.00. B. Riley also issued estimates for WD-40’s Q3 2018 earnings at $1.05 EPS, Q4 2018 earnings at $1.07 EPS, FY2018 earnings at $4.07 EPS and FY2019 earnings at $4.40 EPS.

Several other analysts also recently weighed in on the stock. Zacks Investment Research raised shares of WD-40 from a hold rating to a buy rating and set a $138.00 target price on the stock in a research report on Saturday, January 13th. BidaskClub downgraded shares of WD-40 from a buy rating to a hold rating in a research report on Tuesday, December 12th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $128.75.

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NASDAQ:WDFC opened at $128.65 on Friday. The company has a market cap of $1,797.76, a price-to-earnings ratio of 34.58, a P/E/G ratio of 3.27 and a beta of 0.54. WD-40 has a twelve month low of $100.60 and a twelve month high of $134.45. The company has a current ratio of 3.90, a quick ratio of 3.29 and a debt-to-equity ratio of 1.05.

WD-40 (NASDAQ:WDFC) last released its earnings results on Thursday, April 5th. The specialty chemicals company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.10. The company had revenue of $101.30 million for the quarter, compared to the consensus estimate of $102.49 million. WD-40 had a net margin of 14.29% and a return on equity of 40.28%. WD-40’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 EPS. equities research analysts expect that WD-40 will post 4.09 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 20th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Thursday, April 19th. WD-40’s dividend payout ratio (DPR) is currently 58.06%.

In other news, insider Michael L. Freeman sold 4,861 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $119.58, for a total value of $581,278.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Geoffrey Holdsworth sold 1,690 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $126.85, for a total transaction of $214,376.50. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of WD-40 by 2.1% in the 4th quarter. BlackRock Inc. now owns 1,743,617 shares of the specialty chemicals company’s stock valued at $205,746,000 after acquiring an additional 35,479 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of WD-40 by 13.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 670,480 shares of the specialty chemicals company’s stock valued at $75,027,000 after acquiring an additional 79,356 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of WD-40 by 4.4% in the 4th quarter. Renaissance Technologies LLC now owns 614,585 shares of the specialty chemicals company’s stock valued at $72,521,000 after purchasing an additional 25,800 shares during the period. Conestoga Capital Advisors LLC lifted its stake in shares of WD-40 by 18.7% in the 4th quarter. Conestoga Capital Advisors LLC now owns 371,360 shares of the specialty chemicals company’s stock valued at $43,820,000 after purchasing an additional 58,585 shares during the period. Finally, VGI PARTNERS PTY Ltd lifted its stake in shares of WD-40 by 28.5% in the 4th quarter. VGI PARTNERS PTY Ltd now owns 357,956 shares of the specialty chemicals company’s stock valued at $42,239,000 after purchasing an additional 79,459 shares during the period. 85.92% of the stock is currently owned by institutional investors and hedge funds.

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About WD-40

WD-40 Company engages in the development and sale of maintenance products, and homecare and cleaning products. It offers multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name for various consumer uses; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand name; and bicycle maintenance products under the WD-40 Bike brand name comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products that are designed for avid and recreational cyclists, bike enthusiasts, and mechanics.

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