BidaskClub cut shares of WD-40 Company (NASDAQ:WDFC) from a hold rating to a sell rating in a research report report published on Monday, July 31st.
Several other research analysts have also issued reports on the company. FBR & Co restated a marketperform rating on shares of WD-40 in a research report on Tuesday, July 11th. Zacks Investment Research upgraded WD-40 from a hold rating to a buy rating and set a $120.00 target price for the company in a research report on Thursday, July 13th. Finally, B. Riley restated a neutral rating and set a $116.00 target price on shares of WD-40 in a research report on Thursday, April 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $111.25.
Shares of WD-40 (NASDAQ WDFC) opened at 105.25 on Monday. The company’s 50-day moving average price is $106.95 and its 200 day moving average price is $107.44. The stock has a market capitalization of $1.48 billion, a PE ratio of 28.44 and a beta of 0.73. WD-40 has a one year low of $100.60 and a one year high of $121.10.
WD-40 (NASDAQ:WDFC) last announced its earnings results on Monday, July 10th. The specialty chemicals company reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.11. WD-40 had a return on equity of 39.64% and a net margin of 13.85%. The business had revenue of $98.20 million during the quarter, compared to analyst estimates of $99.09 million. During the same quarter in the previous year, the business earned $0.88 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. Analysts anticipate that WD-40 will post $3.68 EPS for the current year.
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The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, July 21st were issued a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, July 19th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.86%. WD-40’s payout ratio is 52.97%.
In related news, VP Jay Rembolt sold 618 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $110.00, for a total value of $67,980.00. Following the completion of the sale, the vice president now owns 36,837 shares in the company, valued at $4,052,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,854 shares of company stock valued at $203,928 in the last quarter. 3.90% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC purchased a new stake in shares of WD-40 during the second quarter worth about $336,000. Bank of Nova Scotia purchased a new stake in shares of WD-40 during the second quarter worth about $2,251,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of WD-40 during the second quarter worth about $1,975,000. State Street Corp raised its stake in shares of WD-40 by 2.9% in the second quarter. State Street Corp now owns 373,496 shares of the specialty chemicals company’s stock worth $41,210,000 after buying an additional 10,595 shares during the last quarter. Finally, Lagoda Investment Management L.P. purchased a new stake in shares of WD-40 during the second quarter worth about $7,352,000. Hedge funds and other institutional investors own 79.42% of the company’s stock.
WD-40 Company Profile
WD-40 Company is a global company engaged in developing and selling products, which solve problems in workshops, factories and homes. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia-Pacific. The Company’s Americas segment includes the United States, Canada and Latin America.
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