WD-40 (NASDAQ:WDFC) Hits New 52-Week Low - Time to Sell?

Key Points

• WD-40 (NASDAQ:WDFC) recently reached a new **52-week low** of $189.04 during trading, with analysts maintaining an average **Hold** rating and a target price of $290.00.
• The company has announced a quarterly dividend of **$0.94**, resulting in an annualized yield of **2.0%** and a payout ratio of 59.21%.
• Institutional investors have increased their holdings significantly, with **91.52%** of the stock currently owned by these entities, indicating strong support for the company.

WD-40 Company (NASDAQ:WDFC - Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as $189.04 and last traded at $189.69, with a volume of 20964 shares trading hands. The stock had previously closed at $191.22.

Analyst Upgrades and Downgrades

WDFC has been the subject of a number of recent research reports. Weiss Ratings restated a "hold (c)" rating on shares of WD-40 in a research note on Wednesday, October 8th. DA Davidson cut their target price on WD-40 from $322.00 to $300.00 and set a "buy" rating for the company in a research note on Friday, July 11th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $290.00.

WD-40 Stock Down 0.3%

The company has a debt-to-equity ratio of 0.33, a current ratio of 2.84 and a quick ratio of 2.02. The firm has a 50 day simple moving average of $209.90 and a 200-day simple moving average of $224.06. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 29.97 and a beta of 0.09.

WD-40 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 20th will be paid a $0.94 dividend. The ex-dividend date is Monday, October 20th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.0%. WD-40's dividend payout ratio (DPR) is 59.21%.

Institutional Trading of WD-40

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its position in WD-40 by 18.5% in the third quarter. Exchange Traded Concepts LLC now owns 9,513 shares of the specialty chemicals company's stock worth $1,880,000 after purchasing an additional 1,486 shares during the period. Voya Investment Management LLC increased its position in WD-40 by 44.1% in the third quarter. Voya Investment Management LLC now owns 6,871 shares of the specialty chemicals company's stock worth $1,358,000 after purchasing an additional 2,104 shares during the period. Public Sector Pension Investment Board increased its position in WD-40 by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 46,152 shares of the specialty chemicals company's stock worth $10,527,000 after purchasing an additional 3,171 shares during the period. Tower Research Capital LLC TRC increased its position in WD-40 by 1,303.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,035 shares of the specialty chemicals company's stock worth $464,000 after purchasing an additional 1,890 shares during the period. Finally, Corient Private Wealth LLC grew its position in shares of WD-40 by 94.3% during the 2nd quarter. Corient Private Wealth LLC now owns 19,118 shares of the specialty chemicals company's stock worth $4,360,000 after buying an additional 9,280 shares during the period. 91.52% of the stock is currently owned by institutional investors and hedge funds.

WD-40 Company Profile

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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