WD-40 (NASDAQ:WDFC) Earns Outperform Rating from Analysts at William Blair

William Blair initiated coverage on shares of WD-40 (NASDAQ:WDFC) in a report published on Monday, MarketBeat reports. The firm issued an outperform rating on the specialty chemicals company’s stock.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of WD-40 in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, WD-40 currently has an average rating of “Moderate Buy” and a consensus price target of $300.00.

WD-40 Stock Up 3.2%

WDFC stock opened at $219.32 on Monday. WD-40 has a 52 week low of $175.38 and a 52 week high of $253.24. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 33.38 and a beta of 0.25. The firm’s 50-day moving average is $228.73 and its two-hundred day moving average is $209.34. The company has a current ratio of 2.97, a quick ratio of 2.05 and a debt-to-equity ratio of 0.32.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Thursday, January 8th. The specialty chemicals company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.27). WD-40 had a return on equity of 30.10% and a net margin of 14.42%.The company had revenue of $154.42 million for the quarter, compared to the consensus estimate of $155.10 million. During the same quarter last year, the firm posted $1.39 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, analysts forecast that WD-40 will post 5.42 earnings per share for the current fiscal year.

WD-40 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, April 17th will be issued a dividend of $1.02 per share. The ex-dividend date is Friday, April 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.9%. WD-40’s payout ratio is currently 62.10%.

Insider Activity

In other news, Director David Pendarvis purchased 424 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were acquired at an average price of $247.15 per share, for a total transaction of $104,791.60. Following the completion of the acquisition, the director directly owned 6,898 shares of the company’s stock, valued at $1,704,840.70. The trade was a 6.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WD-40

Large investors have recently made changes to their positions in the company. Fortitude Family Office LLC raised its holdings in shares of WD-40 by 4,133.3% during the fourth quarter. Fortitude Family Office LLC now owns 127 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 124 shares during the period. Quarry LP raised its holdings 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. HM Payson & Co. purchased a new position in WD-40 during the third quarter valued at approximately $28,000. Bessemer Group Inc. grew its position in WD-40 by 340.5% during the third quarter. Bessemer Group Inc. now owns 163 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 126 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position 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 valued at $36,000 after purchasing an additional 106 shares in the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.

About WD-40

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.