WD-40’s (WDFC) Buy Rating Reaffirmed at DA Davidson

DA Davidson reissued their buy rating on shares of WD-40 (NASDAQ:WDFCFree Report) in a research note published on Tuesday, Benzinga reports. DA Davidson currently has a $313.00 price target on the specialty chemicals company’s stock.

WD-40 Stock Performance

Shares of NASDAQ WDFC opened at $252.87 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.58 and a current ratio of 2.40. The stock has a 50 day moving average price of $260.71 and a 200 day moving average price of $233.44. The stock has a market capitalization of $3.43 billion, a PE ratio of 49.78 and a beta of -0.06. WD-40 has a 52 week low of $163.82 and a 52 week high of $278.78.

WD-40 (NASDAQ:WDFCGet Free Report) last announced its quarterly earnings data on Tuesday, January 9th. The specialty chemicals company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.28. WD-40 had a return on equity of 33.51% and a net margin of 12.57%. The company had revenue of $140.40 million for the quarter, compared to analysts’ expectations of $134.40 million. During the same quarter in the prior year, the business posted $1.02 EPS. The business’s revenue was up 12.4% compared to the same quarter last year. Analysts predict that WD-40 will post 5.13 earnings per share for the current fiscal year.

WD-40 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 19th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.39%. This is a boost from WD-40’s previous quarterly dividend of $0.83. The ex-dividend date was Thursday, January 18th. WD-40’s dividend payout ratio is presently 69.29%.

Insider Activity at WD-40

In other WD-40 news, VP Jeffrey G. Lindeman purchased 182 shares of the stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $272.42 per share, with a total value of $49,580.44. Following the completion of the transaction, the vice president now directly owns 3,073 shares in the company, valued at $837,146.66. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On WD-40

Hedge funds have recently added to or reduced their stakes in the business. WFA of San Diego LLC bought a new position in shares of WD-40 in the second quarter valued at about $38,000. GAMMA Investing LLC bought a new position in WD-40 in the 4th quarter valued at about $44,000. Quantbot Technologies LP bought a new position in WD-40 in the 2nd quarter valued at about $44,000. Dark Forest Capital Management LP acquired a new stake in WD-40 during the first quarter worth approximately $53,000. Finally, Pacer Advisors Inc. bought a new stake in shares of WD-40 during the fourth quarter worth approximately $56,000. Institutional investors and hedge funds own 91.52% of the company’s stock.

About WD-40

(Get Free Report)

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.

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