WD-40 (NASDAQ:WDFC) Sees Strong Trading Volume - What's Next?

WD-40 (NASDAQ:WDFC - Get Free Report) saw strong trading volume on Monday . 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.

Analysts Set New Price Targets

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

WD-40 Trading Up 0.5%

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.75 and a current ratio of 2.44. The firm has a market cap of $3.33 billion, a PE ratio of 47.09 and a beta of 0.17. The stock's 50 day simple moving average is $233.55 and its 200 day simple moving average is $242.00.

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

WD-40 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 18th were paid a $0.94 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.53%. WD-40's dividend payout ratio (DPR) is 59.97%.

Insider Activity

In other WD-40 news, CFO Sara Kathleen Hyzer acquired 256 shares of the business's stock in a transaction dated Friday, April 11th. The stock was bought at an average price of $222.83 per share, with a total value of $57,044.48. Following the purchase, the chief financial officer now owns 4,072 shares of the company's stock, valued at approximately $907,363.76. This trade represents a 6.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WD-40

Several institutional investors have recently added to or reduced their stakes in WDFC. Ameriflex Group Inc. purchased a new stake in WD-40 during the 4th quarter valued at $25,000. TD Waterhouse Canada Inc. purchased a new stake in WD-40 during the 4th quarter valued at $27,000. Versant Capital Management Inc boosted its position in 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 buying an additional 73 shares during the period. Golden State Wealth Management LLC boosted its position in WD-40 by 210.6% during the 1st quarter. Golden State Wealth Management LLC now owns 146 shares of the specialty chemicals company's stock valued at $36,000 after buying an additional 99 shares during the period. Finally, Parallel Advisors LLC boosted its position in WD-40 by 82.6% during the 1st quarter. Parallel Advisors LLC now owns 157 shares of the specialty chemicals company's stock valued at $38,000 after buying an additional 71 shares during the period. Hedge funds and other institutional investors own 91.52% of the company's stock.

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.