WD-40 (NASDAQ:WDFC) Rating Reiterated by DA Davidson

DA Davidson reaffirmed their buy rating on shares of WD-40 (NASDAQ:WDFC - Free Report) in a research note published on Wednesday, Benzinga reports. DA Davidson currently has a $313.00 target price on the specialty chemicals company's stock.

WD-40 Stock Performance

Shares of NASDAQ:WDFC traded down $21.93 on Wednesday, reaching $233.18. 313,229 shares of the company's stock were exchanged, compared to its average volume of 135,118. The business's 50-day moving average is $257.70 and its two-hundred day moving average is $240.26. The company has a quick ratio of 1.58, a current ratio of 2.40 and a debt-to-equity ratio of 0.40. WD-40 has a fifty-two week low of $171.15 and a fifty-two week high of $278.78. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 45.90 and a beta of -0.06.

WD-40 (NASDAQ:WDFC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 9th. The specialty chemicals company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.01. WD-40 had a return on equity of 33.51% and a net margin of 12.57%. The firm had revenue of $139.10 million during the quarter, compared to the consensus estimate of $140.51 million. During the same period in the prior year, the business earned $1.21 EPS. The firm's revenue was up 6.8% on a year-over-year basis. As a group, equities research analysts forecast that WD-40 will post 5.13 EPS for the current year.

WD-40 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 19th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, April 18th. WD-40's dividend payout ratio is presently 69.29%.

Insiders Place Their Bets

In related news, VP Jeffrey G. Lindeman acquired 182 shares of the business's stock in a transaction dated Monday, February 12th. The stock was bought at an average price of $272.42 per share, for a total transaction of $49,580.44. Following the transaction, the vice president now owns 3,073 shares of the company's stock, valued at $837,146.66. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in WD-40 in the 4th quarter worth approximately $44,000. Quantbot Technologies LP purchased a new position in shares of WD-40 during the second quarter valued at $44,000. Dark Forest Capital Management LP purchased a new stake in WD-40 in the 1st quarter worth about $53,000. Pacer Advisors Inc. acquired a new stake in WD-40 during the 4th quarter worth about $56,000. Finally, Lazard Asset Management LLC grew its stake in WD-40 by 1,805.3% during the 4th quarter. Lazard Asset Management LLC now owns 362 shares of the specialty chemicals company's stock valued at $58,000 after acquiring an additional 343 shares in the last quarter. 91.52% of the stock is currently owned by institutional investors and hedge funds.

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.