WD-40 (NASDAQ:WDFC) Share Price Passes Above 200 Day Moving Average – Should You Sell?

WD-40 Company (NASDAQ:WDFC)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $213.13 and traded as high as $223.45. WD-40 shares last traded at $222.48, with a volume of 251,183 shares.

Analyst Upgrades and Downgrades

WDFC has been the topic of a number of recent analyst reports. Weiss Ratings lowered WD-40 from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. DA Davidson reduced their price objective on WD-40 from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Finally, William Blair initiated coverage on WD-40 in a research note on Monday, April 6th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $270.00.

WD-40 Stock Up 4.1%

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.83 and a quick ratio of 1.98. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 37.84 and a beta of 0.30. The firm has a 50 day moving average price of $208.92 and a 200-day moving average price of $213.13.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings results on Thursday, April 9th. The specialty chemicals company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.11. WD-40 had a return on equity of 30.23% and a net margin of 12.57%.The business had revenue of $161.67 million for the quarter, compared to analyst estimates of $154.90 million. During the same quarter in the prior year, the firm posted $1.32 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities analysts predict that WD-40 Company will post 5.99 EPS for the current fiscal year.

WD-40 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Friday, April 17th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, April 17th. WD-40’s dividend payout ratio is 69.39%.

Hedge Funds Weigh In On WD-40

Large investors have recently made changes to their positions in the company. Quarry LP lifted its stake in shares of WD-40 by 1,462.5% during the third quarter. Quarry LP now owns 125 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 117 shares during the period. Fortitude Family Office LLC lifted its stake in WD-40 by 4,133.3% in the fourth quarter. Fortitude Family Office LLC now owns 127 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 124 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in WD-40 by 207.8% during the second quarter. EverSource Wealth Advisors LLC now owns 157 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 106 shares during the last quarter. Bessemer Group Inc. grew its position in shares of WD-40 by 340.5% during the 3rd quarter. Bessemer Group Inc. now owns 163 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 126 shares during the period. Finally, Brown Brothers Harriman & Co. grew its position in shares of WD-40 by 400.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 215 shares of the specialty chemicals company’s stock worth $42,000 after buying an additional 172 shares during the period. Institutional investors and hedge funds own 91.52% of the company’s stock.

WD-40 Company Profile

WD-40 Company, headquartered in San Diego, California, is best known for its flagship WD-40® Multi-Use Product, a water-displacing spray used for lubrication, rust prevention and cleaning. Since its introduction in 1953 by the Rocket Chemical Company, the WD-40 brand has become a household and industrial staple. Over time, the company has broadened its portfolio to include complementary maintenance and cleaning brands such as 3-IN-ONE® oils, Lava® hand cleaners, Solvol® solvents, Spot Shot® stain removers and X-14® cleaning products.

WD-40 Company distributes its products in more than 176 countries through retail, industrial and automotive channels.