WD-40 (NASDAQ:WDFC) Issues Earnings Results

WD-40 (NASDAQ:WDFC - Get Free Report) announced its quarterly earnings data on Thursday. The specialty chemicals company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.40 by $0.14, RTT News reports. WD-40 had a return on equity of 32.03% and a net margin of 14.13%. The business had revenue of $156.92 million for the quarter, compared to the consensus estimate of $160.60 million. During the same period in the previous year, the business earned $1.46 earnings per share. The business's revenue was up 1.2% on a year-over-year basis.

WD-40 Price Performance

Shares of WD-40 stock traded down $1.57 during trading hours on Friday, hitting $223.33. The company's stock had a trading volume of 318,225 shares, compared to its average volume of 120,768. The business has a 50 day moving average price of $238.75 and a two-hundred day moving average price of $235.72. WD-40 has a 12-month low of $208.00 and a 12-month high of $292.36. The company has a market cap of $3.03 billion, a PE ratio of 35.17 and a beta of 0.14. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 18th will be given a $0.94 dividend. The ex-dividend date is Friday, July 18th. This represents a $3.76 annualized dividend and a dividend yield of 1.68%. WD-40's payout ratio is 59.97%.

Hedge Funds Weigh In On WD-40

Large investors have recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its position in shares of WD-40 by 476.2% in the first 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 in the last quarter. Caxton Associates LLP purchased a new stake in shares of WD-40 in the first quarter worth about $225,000. Royal Bank of Canada lifted its position in shares of WD-40 by 4.6% in the first quarter. Royal Bank of Canada now owns 20,621 shares of the specialty chemicals company's stock worth $5,032,000 after buying an additional 901 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of WD-40 in the first quarter worth about $211,000. Finally, Strs Ohio purchased a new stake in shares of WD-40 in the first quarter worth about $146,000. 91.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, DA Davidson lowered their price objective on WD-40 from $322.00 to $300.00 and set a "buy" rating on the stock in a research report on Friday.

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.