WD-40 (NASDAQ:WDFC) Director Eric Etchart Buys 500 Shares
WD-40 (NASDAQ:WDFC – Get Rating) Director Eric Etchart purchased 500 shares of WD-40 in a trade dated Thursday, August 4. The shares were purchased at an average price of $177.60 per share, with a total value of $88,800.00. Following the completion of the acquisition, the administrator now owns 5,692 shares of the company, valued at $1,010,899.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link.
WD-40 down 0.1%
Shares of WDFC were down $0.19 during Friday trading hours, hitting $178.01. 106,584 shares of shares traded in hands, compared to its average volume of 100,799. The company has a current ratio of 2.51, a quick ratio of 1.51 and a debt ratio of 0.56. WD-40 has a 1-year low of $163.61 and a 1-year high of $255.31. The company has a market capitalization of $2.43 billion, a PE ratio of 40.18 and a beta of -0.23. The company has a fifty-day moving average of $185.62 and a 200-day moving average of $193.17.
WD-40 (NASDAQ:WDFC – Get Rating) last released its quarterly results on Thursday, July 7. The specialty chemicals company reported earnings per share (EPS) of $1.07 for the quarter, missing the consensus estimate of $1.28 per ($0.21). WD-40 had a net margin of 12.10% and a return on equity of 30.75%. The company posted revenue of $123.67 million for the quarter, versus analyst estimates of $142.80 million. During the same period last year, the company achieved EPS of $1.52. The company’s revenue decreased by 9.3% compared to the same quarter last year. Analysts expect WD-40 to post an EPS of 5.08 for the current year.
WD-40 Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 29. Shareholders of record on Friday, July 15 received a dividend of $0.78. This represents an annualized dividend of $3.12 and a yield of 1.75%. The ex-dividend date was Thursday, July 14. The distribution rate of WD-40 is 70.43%.
Hedge funds weigh in on WD-40
Several hedge funds have recently increased or reduced their holdings in the stock. Profund Advisors LLC increased its stake in WD-40 by 3.7% in the fourth quarter. Profund Advisors LLC now owns 1,374 shares of the specialty chemicals company valued at $336,000 after buying 49 additional shares during the period. Mine & Arao Wealth Creation & Management LLC. increased its stake in WD-40 by 50.0% in the fourth quarter. Mine & Arao Wealth Creation & Management LLC. now owns 150 shares of the specialty chemicals company valued at $37,000 after purchasing an additional 50 shares during the period. Steward Partners Investment Advisory LLC increased its holdings of WD-40 shares by 22.3% in the first quarter. Steward Partners Investment Advisory LLC now owns 335 shares of the specialty chemicals company worth $61,000 after acquiring 61 additional shares in the last quarter. Golden State Wealth Management LLC increased its holdings of WD-40 stock by 3.7% in the fourth quarter. Golden State Wealth Management LLC now owns 1,774 shares of the specialty chemicals company worth $434,000 after acquiring 63 additional shares last quarter. Finally, Baird Financial Group Inc. increased its holdings of WD-40 shares by 3.2% in the first quarter. Baird Financial Group Inc. now owns 2,075 shares of the specialty chemicals company worth $380,000 after acquiring 65 more shares last quarter. Institutional investors and hedge funds hold 90.78% of the company’s shares.
Analyst upgrades and downgrades
Several equity research analysts have recently released reports on the company. BWS Financial assumed coverage on WD-40 in a Thursday, July 14 report. They set a rating of “sell” and a price target of $88.00 for the company. TheStreet downgraded WD-40 from a “b-” rating to a “c+” rating in a Friday, July 8 report. Finally, DA Davidson upgraded WD-40 from a “neutral” rating to a “buy” rating and set a price target of $205.00 for the company in a Monday, July 18 report.
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WD-40 Company develops and sells janitorial, home care and cleaning products in the Americas, Europe, Middle East, Africa and Asia-Pacific. The company provides multi-purpose cleaning products that include aerosol, non-aerosol trigger spray and bulk liquid products under the WD-40 Multi-Use brand; and specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants and rust removers under the WD-40 Specialist brand, as well as various products under the WD-40 Bike brand.
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