WD-40 (NASDAQ:WDFC) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

WD-40 (NASDAQ:WDFC - Get Free Report) announced its earnings results on Thursday. The specialty chemicals company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.14, RTT News reports. The company had revenue of $156.92 million for the quarter, compared to analyst estimates of $160.60 million. WD-40 had a return on equity of 31.55% and a net margin of 13.99%. WD-40's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 earnings per share.

WD-40 Stock Up 0.3%

NASDAQ WDFC traded up $0.66 during trading on Friday, hitting $225.56. 112,871 shares of the company traded hands, compared to its average volume of 121,713. The business has a fifty day simple moving average of $238.92 and a 200 day simple moving average of $235.97. WD-40 has a 12 month low of $208.00 and a 12 month high of $292.36. 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 company has a market capitalization of $3.06 billion, a P/E ratio of 35.99 and a beta of 0.14.

WD-40 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 18th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, July 18th. WD-40's payout ratio is presently 59.97%.

Hedge Funds Weigh In On WD-40

Institutional investors have recently modified their holdings of the company. Strs Ohio bought a new stake in WD-40 during the 1st quarter valued at approximately $146,000. United Services Automobile Association bought a new position in WD-40 during the first quarter worth $211,000. Caxton Associates LLP bought a new position in WD-40 during the first quarter worth $225,000. NewEdge Advisors LLC raised its stake 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 purchasing an additional 98 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in 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 valued at $911,000 after purchasing an additional 3,086 shares during the period. Institutional investors own 91.52% of the company's stock.

Analysts Set New Price Targets

Separately, DA Davidson cut their target price on shares of WD-40 from $322.00 to $300.00 and set a "buy" rating for the company 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.