WD-40 Company (NASDAQ:WDFC) to Issue $0.94 Quarterly Dividend

WD-40 Company (NASDAQ:WDFC - Get Free Report) announced a quarterly dividend on Tuesday, June 17th, Wall Street Journal reports. Investors of record on Friday, July 18th will be paid a dividend of 0.94 per share by the specialty chemicals company on Thursday, July 31st. This represents a $3.76 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Friday, July 18th.

WD-40 has a dividend payout ratio of 63.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect WD-40 to earn $6.05 per share next year, which means the company should continue to be able to cover its $3.76 annual dividend with an expected future payout ratio of 62.1%.

WD-40 Price Performance

WDFC traded down $8.68 on Friday, reaching $234.84. The company had a trading volume of 450,638 shares, compared to its average volume of 116,030. The business has a 50 day simple moving average of $236.17 and a 200 day simple moving average of $238.81. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 37.45 and a beta of 0.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.69 and a current ratio of 2.40. WD-40 has a 52-week low of $208.00 and a 52-week high of $292.36.

WD-40 (NASDAQ:WDFC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 8th. The specialty chemicals company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.27 by $0.05. The firm had revenue of $146.10 million for the quarter, compared to the consensus estimate of $154.40 million. WD-40 had a net margin of 13.99% and a return on equity of 31.55%. The business's revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. As a group, sell-side analysts anticipate that WD-40 will post 5.42 EPS for the current year.

Analyst Ratings Changes

Separately, DA Davidson upgraded shares of WD-40 to a "strong-buy" rating in a report on Monday, April 14th.

Insider Transactions at WD-40

In other news, CFO Sara Kathleen Hyzer purchased 256 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was bought at an average cost of $222.83 per share, for a total transaction of $57,044.48. Following the acquisition, the chief financial officer now directly owns 4,072 shares of the company's stock, valued at $907,363.76. This represents a 6.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.75% of the company's stock.

Institutional Investors Weigh In On WD-40

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in WD-40 by 4.6% during the 1st quarter. Royal Bank of Canada now owns 20,621 shares of the specialty chemicals company's stock valued at $5,032,000 after buying an additional 901 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in WD-40 by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,096 shares of the specialty chemicals company's stock valued at $1,975,000 after buying an additional 343 shares during the last quarter. AQR Capital Management LLC raised its holdings in WD-40 by 7.4% during the 1st quarter. AQR Capital Management LLC now owns 6,366 shares of the specialty chemicals company's stock valued at $1,553,000 after buying an additional 437 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in WD-40 by 476.2% during the 1st quarter. Jones Financial Companies Lllp now owns 3,734 shares of the specialty chemicals company's stock valued at $911,000 after buying an additional 3,086 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in WD-40 by 6.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,578 shares of the specialty chemicals company's stock valued at $385,000 after buying an additional 98 shares during the last quarter. 91.52% of the stock is currently owned by institutional investors.

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.