WD-40 (NASDAQ:WDFC) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

WD-40 Company (NASDAQ:WDFC)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-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 trading hands.

Analysts Set New Price Targets

WDFC has been the subject of several analyst reports. William Blair began coverage on WD-40 in a report on Monday, April 6th. They set an “outperform” rating for the company. DA Davidson decreased their price target 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, Weiss Ratings downgraded WD-40 from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, WD-40 currently has an average rating of “Moderate Buy” and an average price target of $270.00.

WD-40 Stock Down 0.5%

The company has a market capitalization of $3.00 billion, a P/E ratio of 37.93 and a beta of 0.30. 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 company has a 50 day moving average of $209.67 and a 200-day moving average of $213.38.

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

WD-40 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Friday, April 17th were paid a $1.02 dividend. The ex-dividend date of this dividend was Friday, April 17th. This represents a $4.08 dividend on an annualized basis and a yield of 1.8%. WD-40’s dividend payout ratio (DPR) is presently 69.39%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WDFC. Quarry LP lifted its position in shares of WD-40 by 1,462.5% in the 3rd quarter. Quarry LP now owns 125 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 117 shares during the period. Fortitude Family Office LLC raised 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 worth $25,000 after buying an additional 124 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in WD-40 by 207.8% in 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 in the last quarter. Bessemer Group Inc. lifted its holdings in WD-40 by 340.5% in the third 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. lifted its holdings in WD-40 by 400.0% in the third 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. 91.52% of the stock is owned by hedge funds and other institutional investors.

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.