WD-40 (NASDAQ:WDFC) Stock Price Down 0.8%

WD-40 (NASDAQ:WDFC)’s stock price dropped 0.8% during trading on Tuesday . The stock traded as low as $222.27 and last traded at $222.52. Approximately 38,153 shares traded hands during trading, a decline of 71% from the average daily volume of 130,948 shares. The stock had previously closed at $224.23.

Analyst Ratings Changes

Separately, DA Davidson restated a “buy” rating and issued a $313.00 price objective on shares of WD-40 in a research note on Wednesday, April 10th.

WD-40 Stock Performance

The stock has a market cap of $3.13 billion, a PE ratio of 45.92 and a beta of -0.02. The firm’s 50-day moving average is $247.30 and its 200 day moving average is $243.17. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.56 and a current ratio of 2.27.

WD-40 (NASDAQ:WDFC) last announced its earnings results on Tuesday, April 9th. The specialty chemicals company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.01. The business had revenue of $139.10 million during the quarter, compared to the consensus estimate of $140.51 million. WD-40 had a net margin of 12.19% and a return on equity of 32.30%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 earnings per share. As a group, research analysts anticipate that WD-40 will post 5.22 EPS for the current year.

WD-40 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 19th were paid a $0.88 dividend. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $3.52 annualized dividend and a yield of 1.53%. WD-40’s dividend payout ratio is currently 70.26%.

Insiders Place Their Bets

In other news, CEO Steven A. Brass bought 432 shares of the stock in a transaction dated Tuesday, April 16th. The shares were acquired at an average price of $232.22 per share, with a total value of $100,319.04. Following the completion of the acquisition, the chief executive officer now directly owns 20,547 shares in the company, valued at $4,771,424.34. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other WD-40 news, CEO Steven A. Brass purchased 432 shares of WD-40 stock in a transaction dated Tuesday, April 16th. The stock was acquired at an average cost of $232.22 per share, with a total value of $100,319.04. Following the acquisition, the chief executive officer now directly owns 20,547 shares of the company’s stock, valued at $4,771,424.34. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jeffrey G. Lindeman acquired 182 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average cost of $272.42 per share, for a total transaction of $49,580.44. Following the acquisition, the vice president now directly owns 3,073 shares of the company’s stock, valued at $837,146.66. The disclosure for this purchase can be found here. In the last quarter, insiders bought 942 shares of company stock worth $226,897. 0.65% of the stock is owned by insiders.

Institutional Trading of WD-40

Several hedge funds and other institutional investors have recently made changes to their positions in WDFC. BNP Paribas Financial Markets raised its holdings in WD-40 by 17.3% during the first quarter. BNP Paribas Financial Markets now owns 14,233 shares of the specialty chemicals company’s stock worth $3,605,000 after purchasing an additional 2,096 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of WD-40 by 152.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,689 shares of the specialty chemicals company’s stock valued at $428,000 after buying an additional 1,020 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of WD-40 by 0.6% during the 1st quarter. Conestoga Capital Advisors LLC now owns 316,272 shares of the specialty chemicals company’s stock worth $80,115,000 after buying an additional 1,910 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in WD-40 in the 1st quarter valued at about $33,000. Finally, New York State Teachers Retirement System grew its stake in WD-40 by 2.6% in the 1st quarter. New York State Teachers Retirement System now owns 21,946 shares of the specialty chemicals company’s stock valued at $5,559,000 after acquiring an additional 549 shares during the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.

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 provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.