WD-40 (NASDAQ:WDFC) Announces Earnings Results, Beats Expectations By $0.09 EPS

WD-40 (NASDAQ:WDFC) posted its earnings results on Wednesday. The specialty chemicals company reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.09, MarketWatch Earnings reports. The business had revenue of $134.75 million for the quarter, compared to analyst estimates of $129.20 million. WD-40 had a net margin of 14.39% and a return on equity of 36.72%. WD-40’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 EPS.

WDFC stock opened at $234.01 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.16 and a current ratio of 2.81. WD-40 has a 52 week low of $207.11 and a 52 week high of $333.42. The firm’s fifty day moving average is $235.56 and its 200 day moving average is $237.63. The firm has a market cap of $3.21 billion, a P/E ratio of 45.97 and a beta of -0.22.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 31st. Investors of record on Friday, January 14th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, January 13th. This represents a $3.12 annualized dividend and a dividend yield of 1.33%. This is a positive change from WD-40’s previous quarterly dividend of $0.72. WD-40’s dividend payout ratio (DPR) is currently 56.58%.

A number of brokerages have recently commented on WDFC. Zacks Investment Research raised shares of WD-40 from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 22nd. TheStreet raised shares of WD-40 from a “c+” rating to a “b-” rating in a report on Thursday, December 23rd. Finally, DA Davidson increased their price target on shares of WD-40 from $238.00 to $277.00 and gave the stock a “neutral” rating in a report on Thursday, October 21st.

In related news, VP Richard T. Clampitt sold 3,420 shares of the stock in a transaction on Friday, October 22nd. The shares were sold at an average price of $218.24, for a total transaction of $746,380.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.33% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley boosted its position in WD-40 by 76.8% during the 2nd quarter. Morgan Stanley now owns 116,001 shares of the specialty chemicals company’s stock valued at $29,730,000 after buying an additional 50,404 shares during the period. UBS Group AG boosted its position in WD-40 by 2.6% during the 3rd quarter. UBS Group AG now owns 4,889 shares of the specialty chemicals company’s stock valued at $1,132,000 after buying an additional 123 shares during the period. Finally, Jane Street Group LLC boosted its position in WD-40 by 30.5% during the 3rd quarter. Jane Street Group LLC now owns 2,718 shares of the specialty chemicals company’s stock valued at $629,000 after buying an additional 636 shares during the period. 86.96% of the stock is owned by institutional investors and hedge funds.

About WD-40

WD-40 Co engages in the development and sale of products that solve problems in workshops, factories and homes. The firm operates through the following geographical segments: Americas, Europe, Middle East and Africa (EMEA) and Asia Pacific. The Americas segment consists of the Unites States, Canada and Latin America.

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Earnings History for WD-40 (NASDAQ:WDFC)

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