WD-40 Company (NASDAQ:WDFC) Receives Consensus Recommendation of “Hold” from Brokerages
WD-40 Company (NASDAQ:WDFC) has been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $111.50.
WDFC has been the subject of a number of recent analyst reports. B. Riley reissued a “neutral” rating and set a $116.00 target price on shares of WD-40 in a research note on Thursday, April 13th. Zacks Investment Research raised shares of WD-40 from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a research note on Thursday, May 11th. BidaskClub raised shares of WD-40 from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, FBR & Co reissued a “marketperform” rating on shares of WD-40 in a research note on Tuesday, July 11th.
WD-40 (WDFC) opened at 105.65 on Tuesday. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 28.55 and a beta of 0.73. The firm has a 50-day moving average of $109.16 and a 200 day moving average of $107.37. WD-40 has a one year low of $100.60 and a one year high of $121.10.
WD-40 (NASDAQ:WDFC) last posted its quarterly earnings data on Monday, July 10th. The specialty chemicals company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.91 by $0.11. The company had revenue of $98.20 million during the quarter, compared to analyst estimates of $99.09 million. WD-40 had a net margin of 13.85% and a return on equity of 39.64%. WD-40’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 earnings per share. Equities research analysts predict that WD-40 will post $3.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 21st were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Wednesday, July 19th. WD-40’s dividend payout ratio is currently 52.97%.
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In other news, VP Jay Rembolt sold 621 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $108.00, for a total transaction of $67,068.00. Following the completion of the sale, the vice president now directly owns 36,428 shares of the company’s stock, valued at $3,934,224. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 1,854 shares of company stock valued at $203,928 over the last three months. Insiders own 3.90% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in WD-40 by 37.5% in the first quarter. Wells Fargo & Company MN now owns 131,496 shares of the specialty chemicals company’s stock worth $14,326,000 after buying an additional 35,879 shares during the period. BB&T Corp raised its stake in WD-40 by 11.5% in the first quarter. BB&T Corp now owns 7,797 shares of the specialty chemicals company’s stock worth $850,000 after buying an additional 806 shares during the period. Whittier Trust Co. raised its stake in WD-40 by 4.7% in the first quarter. Whittier Trust Co. now owns 22,747 shares of the specialty chemicals company’s stock worth $2,478,000 after buying an additional 1,021 shares during the period. Russell Investments Group Ltd. raised its stake in WD-40 by 34.3% in the first quarter. Russell Investments Group Ltd. now owns 22,937 shares of the specialty chemicals company’s stock worth $2,499,000 after buying an additional 5,861 shares during the period. Finally, Glen Harbor Capital Management LLC raised its stake in WD-40 by 2.4% in the first quarter. Glen Harbor Capital Management LLC now owns 946 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 22 shares during the period. 82.11% of the stock is owned by institutional investors.
WD-40 Company Profile
WD-40 Company is a global company engaged in developing and selling products, which solve problems in workshops, factories and homes. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia-Pacific. The Company’s Americas segment includes the United States, Canada and Latin America.
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