WD-40 (NASDAQ:WDFC) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

WD-40 (NASDAQ:WDFC) announced its earnings results on Tuesday. The specialty chemicals company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.08, RTT News reports. WD-40 had a net margin of 16.45% and a return on equity of 40.12%. The business had revenue of $114.00 million during the quarter, compared to the consensus estimate of $109.40 million. During the same quarter in the prior year, the firm earned $1.15 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. WD-40 updated its FY 2019 guidance to $4.58-4.65 EPS and its FY19 guidance to $4.58-4.65 EPS.

Shares of NASDAQ:WDFC opened at $176.37 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.49 and a current ratio of 1.90. The firm has a market capitalization of $2.40 billion, a P/E ratio of 39.62, a P/E/G ratio of 3.77 and a beta of 0.28. WD-40 has a 52 week low of $149.38 and a 52 week high of $187.50. The firm has a 50-day moving average price of $161.46.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 19th will be given a $0.61 dividend. The ex-dividend date is Thursday, July 18th. This represents a $2.44 dividend on an annualized basis and a yield of 1.38%. WD-40’s payout ratio is currently 59.08%.

WDFC has been the subject of a number of recent analyst reports. ValuEngine downgraded shares of Zions Bancorporation NA from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. BidaskClub downgraded shares of Waterstone Financial from a “hold” rating to a “sell” rating in a research report on Friday, June 21st.

In other WD-40 news, insider Steven A. Brass sold 822 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $164.30, for a total value of $135,054.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel E. Pittard bought 400 shares of the company’s stock in a transaction on Thursday, April 18th. The stock was bought at an average cost of $165.00 per share, with a total value of $66,000.00. The disclosure for this purchase can be found here. 2.09% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its holdings in WD-40 by 2.4% in the first quarter. BlackRock Inc. now owns 2,045,376 shares of the specialty chemicals company’s stock valued at $346,569,000 after buying an additional 47,977 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in WD-40 by 1.8% in the first quarter. Neuberger Berman Group LLC now owns 740,302 shares of the specialty chemicals company’s stock valued at $125,437,000 after buying an additional 13,386 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in WD-40 by 4.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 489,634 shares of the specialty chemicals company’s stock valued at $82,965,000 after buying an additional 23,083 shares in the last quarter. Acadian Asset Management LLC increased its holdings in WD-40 by 23.8% in the first quarter. Acadian Asset Management LLC now owns 307,345 shares of the specialty chemicals company’s stock valued at $52,076,000 after buying an additional 59,158 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its holdings in WD-40 by 2.2% in the first quarter. Conestoga Capital Advisors LLC now owns 257,713 shares of the specialty chemicals company’s stock valued at $43,667,000 after buying an additional 5,536 shares in the last quarter. 89.26% of the stock is owned by institutional investors.

WD-40 Company Profile

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.

Read More: Price to Earnings Ratio (PE) Basics

Earnings History for WD-40 (NASDAQ:WDFC)

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