WD-40 Company (NASDAQ:WDFC) Plans Quarterly Dividend of $0.94

WD-40 Company (NASDAQ:WDFC - Get Free Report) declared a quarterly dividend on Wednesday, June 18th, Wall Street Journal reports. Shareholders of record on Friday, July 18th will be given a dividend of 0.94 per share by the specialty chemicals company on Thursday, July 31st. This represents a $3.76 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Friday, July 18th.

WD-40 has a dividend payout ratio of 63.0% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

Shares of NASDAQ:WDFC traded down $0.98 during midday trading on Wednesday, reaching $243.52. The company had a trading volume of 171,202 shares, compared to its average volume of 114,556. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.35. The stock has a market cap of $3.30 billion, a P/E ratio of 38.84 and a beta of 0.17. The company's 50 day moving average price is $234.95 and its 200 day moving average price is $239.53. 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 released its quarterly earnings data 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 company had revenue of $146.10 million during 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%. WD-40's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $1.14 EPS. As a group, sell-side analysts anticipate that WD-40 will post 5.42 EPS for the current fiscal year.

Insider Activity

In related news, CFO Sara Kathleen Hyzer acquired 256 shares of WD-40 stock in a transaction dated Friday, April 11th. The shares were purchased at an average cost of $222.83 per share, with a total value of $57,044.48. Following the completion of the purchase, the chief financial officer now owns 4,072 shares of the company's stock, valued at $907,363.76. This represents a 6.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.75% of the company's stock.

Institutional Trading of WD-40

Several hedge funds and other institutional investors have recently bought and sold shares of WDFC. 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. AQR Capital Management LLC increased 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 purchasing an additional 437 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 purchasing an additional 343 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in WD-40 by 6.6% in the 1st quarter. NewEdge Advisors LLC now owns 1,578 shares of the specialty chemicals company's stock worth $385,000 after buying an additional 98 shares during the period. Finally, Jones Financial Companies Lllp grew its position in shares of WD-40 by 476.2% in the 1st quarter. Jones Financial Companies Lllp now owns 3,734 shares of the specialty chemicals company's stock worth $911,000 after buying an additional 3,086 shares during the last quarter. Institutional investors own 91.52% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.

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