WD-40 Co. (WDFC) Sees Strong Trading Volume Following Dividend Announcement
WD-40 Co. (NASDAQ:WDFC) shares saw strong trading volume on Wednesday after the company announced a dividend. 236,552 shares changed hands during mid-day trading, an increase of 122% from the previous session’s volume of 106,554 shares.The stock last traded at $112.36 and had previously closed at $112.51.
The newly announced dividend which will be paid on Monday, October 31st. Shareholders of record on Friday, October 21st will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, October 19th. WD-40’s dividend payout ratio (DPR) is 48.70%.
A number of equities analysts have weighed in on the company. Zacks Investment Research lowered WD-40 from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. B. Riley reaffirmed a “neutral” rating and set a $106.00 price target on shares of WD-40 in a research report on Monday, July 11th. Finally, Jefferies Group initiated coverage on shares of WD-40 in a research report on Thursday, August 25th. They set a “hold” rating and a $120.00 price target for the company.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/12/wd-40-co-wdfc-sees-strong-trading-volume-following-dividend-announcement.html
The firm has a market capitalization of $1.60 billion, a PE ratio of 32.57 and a beta of 0.71. The company’s 50 day moving average is $115.75 and its 200-day moving average is $112.52.
In related news, VP Jay Rembolt sold 570 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $117.00, for a total transaction of $66,690.00. Following the sale, the vice president now owns 34,966 shares of the company’s stock, valued at $4,091,022. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel E. Pittard acquired 295 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were bought at an average cost of $115.00 per share, for a total transaction of $33,925.00. The disclosure for this purchase can be found here. Corporate insiders own 3.84% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of WD-40 by 121.0% in the first quarter. BlackRock Inc. now owns 977 shares of the company’s stock worth $105,000 after buying an additional 535 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of WD-40 during the second quarter worth $131,000. Victory Capital Management Inc. increased its stake in shares of WD-40 by 77.1% in the second quarter. Victory Capital Management Inc. now owns 1,146 shares of the company’s stock worth $135,000 after buying an additional 499 shares during the last quarter. GAM Holding AG bought a new stake in shares of WD-40 during the second quarter worth $164,000. Finally, Advisor Group Inc. bought a new stake in shares of WD-40 during the second quarter worth $165,000. 75.97% of the stock is currently owned by institutional investors.
WD-40 Company Profile
WD-40 Company, is a global consumer Products Company. As of August 31, 2012, the Company’s products included WD-40 Smart Straw, WD-40 Trigger Pro, 3-IN-ONE Professional Garage Door Lube, Spot Shot Pet Clean which is a non-aerosol Spot Shot trigger product, and a mildew stain remover under the X-14 brand.
Receive News & Ratings for WD-40 Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WD-40 Co. and related companies with MarketBeat.com's FREE daily email newsletter.