WD-40 (NASDAQ:WDFC) Sees Strong Trading Volume - Time to Buy?

WD-40 (NASDAQ:WDFC - Get Free Report) saw unusually-high trading volume on Monday . Approximately 257,719 shares changed hands during trading, an increase of 149% from the previous session's volume of 103,643 shares.The stock last traded at $240.03 and had previously closed at $243.63.

Wall Street Analysts Forecast Growth

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

WD-40 Stock Performance

The firm has a market capitalization of $3.33 billion, a P/E ratio of 47.04 and a beta of 0.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.44 and a quick ratio of 1.75. The firm has a 50-day moving average price of $233.54 and a two-hundred day moving average price of $241.75.

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

WD-40 Dividend Announcement

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

Insiders Place Their Bets

In related news, CFO Sara Kathleen Hyzer bought 256 shares of the company's stock in a transaction on Friday, April 11th. The shares were acquired at an average price of $222.83 per share, with a total value of $57,044.48. Following the transaction, the chief financial officer now owns 4,072 shares of the company's stock, valued at $907,363.76. The trade was a 6.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.75% of the company's stock.

Institutional Investors Weigh In On WD-40

Hedge funds have recently made changes to their positions in the stock. Ameriflex Group Inc. purchased a new stake in shares of WD-40 during the fourth quarter valued at about $25,000. TD Waterhouse Canada Inc. purchased a new stake in WD-40 during the fourth quarter valued at approximately $27,000. Versant Capital Management Inc boosted its stake in WD-40 by 96.1% in the first quarter. Versant Capital Management Inc now owns 149 shares of the specialty chemicals company's stock valued at $36,000 after acquiring an additional 73 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in WD-40 by 210.6% in 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 during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of WD-40 by 82.6% during the first quarter. Parallel Advisors LLC now owns 157 shares of the specialty chemicals company's stock worth $38,000 after purchasing an additional 71 shares in the last quarter. 91.52% of the stock is currently owned by hedge funds and other institutional investors.

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.