WD-40 Company (WDFC) To Go Ex-Dividend on July 17th

WD-40 Company (NASDAQ:WDFC) announced a quarterly dividend on Monday, June 15th. Shareholders of record on Friday, July 17th will be paid a dividend of 1.02 per share by the specialty chemicals company on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, July 17th.

WD-40 has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 17 consecutive years. WD-40 has a payout ratio of 68.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect WD-40 to earn $6.36 per share next year, which means the company should continue to be able to cover its $4.08 annual dividend with an expected future payout ratio of 64.2%.

WD-40 Trading Up 0.6%

Shares of NASDAQ WDFC opened at $227.64 on Wednesday. WD-40 has a one year low of $175.38 and a one year high of $253.24. The business has a 50-day moving average price of $210.50 and a two-hundred day moving average price of $213.96. The company has a current ratio of 2.83, a quick ratio of 1.98 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.06 billion, a PE ratio of 38.71 and a beta of 0.30.

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

Institutional Investors Weigh In On WD-40

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rathbones Group PLC lifted its holdings in WD-40 by 36.9% in the 1st quarter. Rathbones Group PLC now owns 4,635 shares of the specialty chemicals company’s stock worth $945,000 after purchasing an additional 1,250 shares during the last quarter. Summitry LLC lifted its holdings in WD-40 by 32.1% in the 1st quarter. Summitry LLC now owns 1,414 shares of the specialty chemicals company’s stock worth $288,000 after purchasing an additional 344 shares during the last quarter. Bank of America Corp DE lifted its holdings in WD-40 by 19.5% in the 1st quarter. Bank of America Corp DE now owns 42,888 shares of the specialty chemicals company’s stock worth $8,747,000 after purchasing an additional 7,002 shares during the last quarter. Amundi lifted its holdings in WD-40 by 10.1% in the 1st quarter. Amundi now owns 2,560 shares of the specialty chemicals company’s stock worth $522,000 after purchasing an additional 234 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in WD-40 by 31.1% in the 1st quarter. California State Teachers Retirement System now owns 16,775 shares of the specialty chemicals company’s stock worth $3,421,000 after purchasing an additional 3,979 shares during the last quarter. 91.52% of the stock is currently owned by institutional investors and hedge funds.

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.