WD-40 (NASDAQ:WDFC) Sees Strong Trading Volume

WD-40 (NASDAQ:WDFC) saw an uptick in trading volume on Tuesday . 165,671 shares traded hands during mid-day trading, an increase of 63% from the previous session’s volume of 101,410 shares.The stock last traded at $224.84 and had previously closed at $224.35.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WDFC shares. DA Davidson upped their price target on WD-40 from $256.00 to $258.00 and gave the company a “buy” rating in a research report on Friday, October 20th. StockNews.com initiated coverage on WD-40 in a report on Thursday, October 5th. They issued a “hold” rating for the company.

WD-40 Stock Performance

The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 48.35 and a beta of -0.15. The stock has a 50-day moving average price of $208.97 and a 200 day moving average price of $206.50. The company has a quick ratio of 1.82, a current ratio of 2.80 and a debt-to-equity ratio of 0.52.

WD-40 (NASDAQ:WDFC) last posted its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.21 earnings per share for the quarter, hitting the consensus estimate of $1.21. WD-40 had a return on equity of 32.81% and a net margin of 12.28%. The firm had revenue of $140.50 million during the quarter, compared to analysts’ expectations of $138.20 million. During the same quarter in the previous year, the business earned $1.08 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, analysts forecast that WD-40 will post 5.1 EPS for the current year.

WD-40 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 20th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Thursday, October 19th. WD-40’s payout ratio is currently 68.88%.

Institutional Investors Weigh In On WD-40

Several hedge funds have recently made changes to their positions in the business. Creative Planning grew its stake in shares of WD-40 by 7.0% in the 3rd quarter. Creative Planning now owns 2,041 shares of the specialty chemicals company’s stock valued at $415,000 after purchasing an additional 134 shares during the last quarter. BRYN MAWR TRUST Co acquired a new position in WD-40 in the 3rd quarter valued at $211,000. Morgan Stanley lifted its stake in shares of WD-40 by 49.5% in the 3rd quarter. Morgan Stanley now owns 313,844 shares of the specialty chemicals company’s stock worth $63,786,000 after acquiring an additional 103,949 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of WD-40 by 25.3% in the third quarter. The Manufacturers Life Insurance Company now owns 6,759 shares of the specialty chemicals company’s stock valued at $1,374,000 after acquiring an additional 1,366 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in shares of WD-40 by 25.2% during the third quarter. GSA Capital Partners LLP now owns 9,446 shares of the specialty chemicals company’s stock worth $1,920,000 after acquiring an additional 1,901 shares during the period. 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.