WD-40 (NASDAQ:WDFC) PT Raised to $322.00 at DA Davidson

WD-40 (NASDAQ:WDFC) had its price objective boosted by DA Davidson from $303.00 to $322.00 in a report released on Friday, Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

WD-40 Stock Performance

WDFC opened at $251.25 on Friday. WD-40 has a 12-month low of $194.09 and a 12-month high of $278.78. The firm has a market capitalization of $3.40 billion, a P/E ratio of 49.36 and a beta of -0.08. The stock’s 50 day moving average price is $256.53 and its two-hundred day moving average price is $242.44. The company has a quick ratio of 1.56, a current ratio of 2.27 and a debt-to-equity ratio of 0.40.

WD-40 (NASDAQ:WDFC) last announced its quarterly earnings data on Thursday, October 17th. The specialty chemicals company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.11). The company had revenue of $156.00 million during the quarter, compared to analyst estimates of $149.20 million. WD-40 had a return on equity of 32.43% and a net margin of 12.07%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.21 EPS. On average, equities analysts forecast that WD-40 will post 5.22 earnings per share for the current year.

WD-40 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 18th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, October 18th. WD-40’s dividend payout ratio is currently 69.16%.

Institutional Investors Weigh In On WD-40

A number of institutional investors have recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. acquired a new position in WD-40 in the 1st quarter valued at approximately $20,491,000. Millennium Management LLC increased its position in shares of WD-40 by 80.5% during the second quarter. Millennium Management LLC now owns 69,650 shares of the specialty chemicals company’s stock valued at $15,298,000 after purchasing an additional 31,055 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of WD-40 in the first quarter valued at $4,180,000. Lazard Asset Management LLC lifted its position in WD-40 by 83.6% in the first quarter. Lazard Asset Management LLC now owns 26,226 shares of the specialty chemicals company’s stock worth $6,642,000 after purchasing an additional 11,939 shares during the period. Finally, Vanguard Group Inc. boosted its stake in WD-40 by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,623,994 shares of the specialty chemicals company’s stock worth $411,374,000 after buying an additional 6,532 shares in the last quarter. 91.52% of the stock is owned by institutional investors and hedge funds.

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.