WD-40 (WDFC) Reaches New 52-Week High at $184.79

WD-40 (NASDAQ:WDFC)’s share price reached a new 52-week high on Friday . The company traded as high as $184.79 and last traded at $181.76, with a volume of 34650 shares traded. The stock had previously closed at $182.61.

A number of research firms have weighed in on WDFC. Zacks Investment Research downgraded shares of WD-40 from a “hold” rating to a “sell” rating in a research note on Saturday, December 1st. BidaskClub raised shares of WD-40 from a “sell” rating to a “hold” rating in a research note on Friday, October 19th. Finally, DA Davidson began coverage on shares of WD-40 in a research note on Friday, December 7th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. WD-40 presently has a consensus rating of “Hold” and an average target price of $149.67.

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.53 and a current ratio of 1.96. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 43.46, a P/E/G ratio of 3.96 and a beta of 0.52.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings results on Thursday, October 18th. The specialty chemicals company reported $1.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.55. The company had revenue of $102.60 million for the quarter. WD-40 had a net margin of 15.96% and a return on equity of 38.51%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.01 EPS. On average, analysts predict that WD-40 will post 4.53 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Tuesday, December 18th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Thursday, January 17th. This represents a $2.44 dividend on an annualized basis and a yield of 1.36%. This is an increase from WD-40’s previous quarterly dividend of $0.54. WD-40’s dividend payout ratio (DPR) is currently 52.30%.

In other news, insider Michael L. Freeman sold 6,000 shares of the firm’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $167.36, for a total value of $1,004,160.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Stanley Sewitch, Jr. sold 2,167 shares of the firm’s stock in a transaction on Thursday, October 25th. The shares were sold at an average price of $163.80, for a total transaction of $354,954.60. The disclosure for this sale can be found here. In the last three months, insiders sold 15,720 shares of company stock worth $2,630,634. Insiders own 2.09% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Vident Investment Advisory LLC raised its stake in shares of WD-40 by 9.8% in the 2nd quarter. Vident Investment Advisory LLC now owns 3,416 shares of the specialty chemicals company’s stock valued at $500,000 after acquiring an additional 306 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of WD-40 by 13.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,936 shares of the specialty chemicals company’s stock valued at $505,000 after acquiring an additional 358 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of WD-40 by 12.5% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,312 shares of the specialty chemicals company’s stock valued at $570,000 after acquiring an additional 369 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of WD-40 by 44.9% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,224 shares of the specialty chemicals company’s stock valued at $211,000 after acquiring an additional 379 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of WD-40 by 1.0% in the 2nd quarter. Rhumbline Advisers now owns 39,854 shares of the specialty chemicals company’s stock valued at $5,829,000 after acquiring an additional 384 shares during the period. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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WD-40 Company Profile (NASDAQ:WDFC)

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 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 and industrial applications; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bicycle maintenance products comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics under the WD-40 Bike brand name.

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