WD-40 (NASDAQ:WDFC) Trading Down 3.5% – Here’s Why

WD-40 Company (NASDAQ:WDFC) shares fell 3.5% on Wednesday . The company traded as low as $202.66 and last traded at $196.4660. 107,398 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 140,456 shares. The stock had previously closed at $203.60.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on WDFC shares. DA Davidson set a $300.00 price target on WD-40 in a research note on Wednesday, November 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of WD-40 in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $300.00.

WD-40 Trading Down 3.5%

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.79 and a quick ratio of 2.01. The firm has a fifty day simple moving average of $197.74 and a two-hundred day simple moving average of $210.87. The firm has a market capitalization of $2.66 billion, a P/E ratio of 29.41 and a beta of 0.16.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings results on Wednesday, October 22nd. The specialty chemicals company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.30. WD-40 had a return on equity of 31.84% and a net margin of 14.68%.The firm had revenue of $163.47 million for the quarter, compared to analysts’ expectations of $153.90 million. During the same quarter in the prior year, the firm earned $1.23 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. WD-40 has set its FY 2025 guidance at 5.750-6.150 EPS. On average, equities research analysts anticipate that WD-40 Company will post 5.42 earnings per share for the current fiscal year.

WD-40 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, January 16th. This is an increase from WD-40’s previous quarterly dividend of $0.94. WD-40’s dividend payout ratio is currently 56.29%.

Insider Buying and Selling

In related news, CEO Steven A. Brass acquired 362 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The shares were bought at an average cost of $200.46 per share, for a total transaction of $72,566.52. Following the purchase, the chief executive officer owned 33,761 shares in the company, valued at $6,767,730.06. This trade represents a 1.08% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sara Kathleen Hyzer purchased 200 shares of the stock in a transaction dated Tuesday, October 28th. The stock was purchased at an average cost of $200.46 per share, for a total transaction of $40,092.00. Following the completion of the acquisition, the chief financial officer owned 5,935 shares of the company’s stock, valued at approximately $1,189,730.10. This represents a 3.49% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 2,640 shares of company stock worth $522,765 in the last 90 days. 0.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. raised its position in shares of WD-40 by 6.4% in the third quarter. Alliancebernstein L.P. now owns 533,738 shares of the specialty chemicals company’s stock worth $105,467,000 after buying an additional 32,333 shares in the last quarter. Geode Capital Management LLC increased its stake in WD-40 by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 399,186 shares of the specialty chemicals company’s stock worth $91,059,000 after acquiring an additional 5,621 shares during the last quarter. Ameriprise Financial Inc. increased its stake in WD-40 by 24.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 333,505 shares of the specialty chemicals company’s stock worth $76,069,000 after acquiring an additional 65,423 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of WD-40 by 1.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 284,095 shares of the specialty chemicals company’s stock valued at $56,135,000 after acquiring an additional 5,173 shares in the last quarter. Finally, Geneva Capital Management LLC boosted its position in shares of WD-40 by 0.3% during the 3rd quarter. Geneva Capital Management LLC now owns 264,136 shares of the specialty chemicals company’s stock valued at $52,193,000 after acquiring an additional 835 shares during the last quarter. 91.52% of the stock is currently owned by hedge funds and other institutional investors.

About WD-40

WD-40 Company, headquartered in San Diego, California, is best known for its flagship WD-40® Multi-Use Product, a water-displacing spray used for lubrication, rust prevention and cleaning. Since its introduction in 1953 by the Rocket Chemical Company, the WD-40 brand has become a household and industrial staple. Over time, the company has broadened its portfolio to include complementary maintenance and cleaning brands such as 3-IN-ONE® oils, Lava® hand cleaners, Solvol® solvents, Spot Shot® stain removers and X-14® cleaning products.

WD-40 Company distributes its products in more than 176 countries through retail, industrial and automotive channels.