WD-40 (NASDAQ:WDFC) Sees Large Volume Increase - Here's Why

WD-40 (NASDAQ:WDFC - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 220,619 shares were traded during trading, an increase of 101% from the previous session's volume of 109,916 shares.The stock last traded at $244.12 and had previously closed at $245.53.

Analysts Set New Price Targets

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

WD-40 Price Performance

The stock has a 50-day simple moving average of $233.55 and a 200 day simple moving average of $241.01. The company has a market cap of $3.34 billion, a PE ratio of 47.21 and a beta of 0.17. The company has a quick ratio of 1.75, a current ratio of 2.44 and a debt-to-equity ratio of 0.37.

WD-40 (NASDAQ:WDFC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 8th. The specialty chemicals company reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.05. The business had revenue of $146.10 million for the quarter, compared to analyst estimates of $154.40 million. WD-40 had a return on equity of 31.68% and a net margin of 11.78%. The company's revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 earnings per share. Equities analysts expect that WD-40 will post 5.42 EPS for the current year.

WD-40 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 18th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Thursday, April 17th. WD-40's payout ratio is 59.97%.

Insiders Place Their Bets

In other WD-40 news, CFO Sara Kathleen Hyzer acquired 256 shares of the stock in a transaction on Friday, April 11th. The stock was purchased at an average price of $222.83 per share, for a total transaction of $57,044.48. Following the purchase, the chief financial officer now directly owns 4,072 shares in the company, valued at $907,363.76. This trade represents a 6.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WD-40

Several institutional investors and hedge funds have recently made changes to their positions in WDFC. Ameriflex Group Inc. bought a new stake in WD-40 in the fourth quarter valued at $25,000. TD Waterhouse Canada Inc. bought a new position in shares of WD-40 in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC raised its holdings in WD-40 by 210.6% during the first quarter. Golden State Wealth Management LLC now owns 146 shares of the specialty chemicals company's stock worth $36,000 after purchasing an additional 99 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of WD-40 by 96.1% during the 1st quarter. Versant Capital Management Inc now owns 149 shares of the specialty chemicals company's stock valued at $36,000 after purchasing an additional 73 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in WD-40 by 420.0% in the first quarter. Farther Finance Advisors LLC now owns 156 shares of the specialty chemicals company's stock worth $38,000 after buying an additional 126 shares during the last quarter. 91.52% of the stock is 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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