Shares of WD-40 (NASDAQ:WDFC – Get Free Report) saw unusually-high trading volume on Wednesday after TheStreet upgraded the stock from a c+ rating to a b- rating. Approximately 63,677 shares were traded during trading, a decline of 39% from the previous session’s volume of 104,745 shares.The stock last traded at $226.33 and had previously closed at $229.63.
WDFC has been the topic of several other research reports. DA Davidson boosted their price target on shares of WD-40 from $228.00 to $232.00 in a research report on Tuesday. StockNews.com initiated coverage on shares of WD-40 in a research report on Thursday, May 18th. They issued a “hold” rating on the stock.
Insiders Place Their Bets
In other news, insider Patricia Q. Olsem sold 420 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $200.00, for a total transaction of $84,000.00. Following the completion of the sale, the insider now directly owns 2,323 shares of the company’s stock, valued at $464,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by insiders.
Institutional Trading of WD-40
WD-40 Price Performance
The company has a debt-to-equity ratio of 0.55, a current ratio of 2.26 and a quick ratio of 1.33. The firm has a fifty day moving average of $192.47 and a two-hundred day moving average of $181.03. The stock has a market capitalization of $3.02 billion, a P/E ratio of 47.49 and a beta of -0.16.
WD-40 (NASDAQ:WDFC – Get Free Report) last announced its earnings results on Monday, July 10th. The specialty chemicals company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.16. The business had revenue of $141.72 million during the quarter, compared to the consensus estimate of $138.40 million. WD-40 had a net margin of 12.18% and a return on equity of 33.37%. The firm’s revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 earnings per share. On average, analysts predict that WD-40 will post 4.95 EPS for the current year.
WD-40 Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, July 14th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $3.32 dividend on an annualized basis and a yield of 1.49%. WD-40’s dividend payout ratio is presently 70.79%.
WD-40 Company Profile
WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, Australia, and the Asia Pacific. The company provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name; and specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand, as well as various products under the WD-40 Bike brand name.
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