WD-40 (NASDAQ:WDFC) Shares Down 2.8% – Time to Sell?

WD-40 (NASDAQ:WDFC)’s share price dropped 2.8% on Friday . The stock traded as low as $249.81 and last traded at $250.24. Approximately 125,721 shares were traded during trading, an increase of 20% from the average daily volume of 104,376 shares. The stock had previously closed at $257.54.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. DA Davidson restated a “buy” rating and issued a $322.00 price objective on shares of WD-40 in a research note on Monday, November 18th. Jefferies Financial Group increased their price target on shares of WD-40 from $250.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, October 18th.

WD-40 Stock Down 3.0 %

The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 48.91 and a beta of -0.07. The business’s 50-day moving average is $270.81 and its 200-day moving average is $254.44.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings data on Thursday, October 17th. The specialty chemicals company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.11). WD-40 had a net margin of 11.79% and a return on equity of 31.53%. The company had revenue of $156.00 million for the quarter, compared to analysts’ expectations of $149.20 million. During the same quarter in the previous year, the business posted $1.21 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities analysts predict that WD-40 will post 5.36 earnings per share for the current year.

WD-40 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.50%. The ex-dividend date is Friday, January 17th. This is a positive change from WD-40’s previous quarterly dividend of $0.88. WD-40’s dividend payout ratio is currently 73.58%.

Insider Transactions at WD-40

In other WD-40 news, Director William B. Noble sold 800 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $256.98, for a total value of $205,584.00. Following the completion of the transaction, the director now owns 8,999 shares in the company, valued at approximately $2,312,563.02. This represents a 8.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On WD-40

Several institutional investors and hedge funds have recently modified their holdings of WDFC. Coldstream Capital Management Inc. boosted its position in WD-40 by 3.3% during the third quarter. Coldstream Capital Management Inc. now owns 1,243 shares of the specialty chemicals company’s stock worth $321,000 after purchasing an additional 40 shares in the last quarter. Covestor Ltd raised its stake in shares of WD-40 by 41.3% during the 3rd quarter. Covestor Ltd now owns 226 shares of the specialty chemicals company’s stock worth $58,000 after buying an additional 66 shares during the period. Arizona State Retirement System lifted its position in shares of WD-40 by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 3,794 shares of the specialty chemicals company’s stock valued at $833,000 after buying an additional 68 shares in the last quarter. GAMMA Investing LLC grew its stake in WD-40 by 34.9% in the 3rd quarter. GAMMA Investing LLC now owns 325 shares of the specialty chemicals company’s stock valued at $84,000 after acquiring an additional 84 shares during the period. Finally, Blue Trust Inc. increased its holdings in WD-40 by 28.9% in the 3rd quarter. Blue Trust Inc. now owns 393 shares of the specialty chemicals company’s stock worth $101,000 after acquiring an additional 88 shares in the last quarter. Hedge funds and other institutional investors 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.