WD-40 (NASDAQ:WDFC) shares decline after weak earnings

Shares of WD-40 (NASDAQ:WDFC – Get Rating) fell ahead of Friday’s market open after a weaker-than-expected earnings report. The stock had previously closed at $204.85, but opened at $186.41. WD-40 shares last traded at $180.80, with a volume of 1,903 shares traded in hands. The specialty chemicals company reported EPS of $1.07 for the quarter, missing the consensus estimate of $1.27 per ($0.20). WD-40 had a return on equity of 33.73% and a net margin of 13.07%. The company posted revenue of $123.67 million in the quarter, compared to $142.80 million expected by analysts. During the same period last year, the company posted EPS of $1.52. Quarterly WD-40 sales decreased 9.3% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 29. Shareholders of record on Friday, July 15 will receive a dividend of $0.78 per share. The ex-dividend date is Thursday, July 14. This represents a dividend of $3.12 on an annualized basis and a dividend yield of 1.72%. WD-40’s dividend payout ratio is currently 63.93%.

WDFC has been the subject of a number of research reports. StockNews.com launched coverage on WD-40 in a research report on Thursday, March 31. They set a “hold” rating for the company. DA Davidson upgraded WD-40 from an “underperforming” rating to a “neutral” rating in a Friday, April 8 research report.

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Several institutional investors have recently changed their positions in the company. Quadrant Capital Group LLC increased its stake in WD-40 shares by 386.1% during the first quarter. Quadrant Capital Group LLC now owns 175 shares of the specialty chemicals company valued at $32,000 after buying an additional 139 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. increased its stake in WD-40 shares by 50.0% during the fourth quarter. Mine & Arao Wealth Creation & Management LLC. now owns 150 shares of the specialty chemicals company valued at $37,000 after buying an additional 50 shares in the last quarter. Hardy Reed LLC bought a new stock position of WD-40 during the first quarter worth approximately $58,000. Steward Partners Investment Advisory LLC increased its stake in WD-40 shares by 22.3% during the first quarter. Steward Partners Investment Advisory LLC now owns 335 shares of the specialty chemicals company valued at $61,000 after buying 61 additional shares in the last quarter. Finally, Cornerstone Advisory LLC purchased a new stock position in WD-40 during the fourth quarter worth approximately $77,000. Hedge funds and other institutional investors own 90.78% of the company’s shares.

The company has a debt ratio of 0.57, a quick ratio of 1.91 and a current ratio of 2.81. The company has a fifty-day simple moving average of $187.94 and a two-hundred-day simple moving average of $203.16. The company has a market capitalization of $2.47 billion, a PE ratio of 37.05 and a beta of -0.17.

WD-40 Company Profile (NASDAQ:WDFC)

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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