WD-40 (NASDAQ:WDFC) Issues Earnings Results

WD-40 (NASDAQ:WDFC) issued its quarterly earnings data on Thursday. The specialty chemicals company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.14, RTT News reports. WD-40 had a return on equity of 32.03% and a net margin of 14.13%. The business had revenue of $156.92 million for the quarter, compared to the consensus estimate of $160.60 million. During the same period in the prior year, the business posted $1.46 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year.

WD-40 Stock Performance

Shares of WDFC opened at $223.33 on Friday. The stock has a 50-day moving average of $238.75 and a two-hundred day moving average of $235.80. WD-40 has a one year low of $208.00 and a one year high of $292.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a market cap of $3.03 billion, a P/E ratio of 35.17 and a beta of 0.14.

WD-40 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 18th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, July 18th. This represents a $3.76 dividend on an annualized basis and a yield of 1.68%. WD-40’s dividend payout ratio is currently 59.97%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reduced their price target on WD-40 from $322.00 to $300.00 and set a “buy” rating on the stock in a report on Friday.

Hedge Funds Weigh In On WD-40

Institutional investors and hedge funds have recently modified their holdings of the stock. Strs Ohio acquired a new position in shares of WD-40 in the 1st quarter valued at about $146,000. United Services Automobile Association acquired a new position in shares of WD-40 in the 1st quarter valued at about $211,000. Caxton Associates LLP acquired a new position in WD-40 in the 1st quarter worth about $225,000. NewEdge Advisors LLC raised its holdings in WD-40 by 6.6% in the 1st quarter. NewEdge Advisors LLC now owns 1,578 shares of the specialty chemicals company’s stock worth $385,000 after purchasing an additional 98 shares during the period. Finally, Jones Financial Companies Lllp raised its holdings in WD-40 by 476.2% in the 1st quarter. Jones Financial Companies Lllp now owns 3,734 shares of the specialty chemicals company’s stock worth $911,000 after purchasing an additional 3,086 shares during the period. Institutional investors and hedge funds own 91.52% of the company’s stock.

About WD-40

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.