Steven A. Brass Purchases 432 Shares of WD-40 (NASDAQ:WDFC) Stock

WD-40 (NASDAQ:WDFC) CEO Steven A. Brass purchased 432 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were bought at an average cost of $232.22 per share, for a total transaction of $100,319.04. Following the completion of the purchase, the chief executive officer now directly owns 20,547 shares of the company’s stock, valued at $4,771,424.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

WD-40 Price Performance

Shares of WDFC traded down $0.42 during mid-day trading on Wednesday, hitting $231.50. 145,049 shares of the company traded hands, compared to its average volume of 135,310. WD-40 has a one year low of $181.38 and a one year high of $278.78. The company has a current ratio of 2.27, a quick ratio of 1.56 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average of $255.55 and a 200 day moving average of $241.51. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 46.06 and a beta of -0.06.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Tuesday, April 9th. The specialty chemicals company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.13 by $0.01. WD-40 had a net margin of 12.19% and a return on equity of 32.30%. The business had revenue of $139.10 million for the quarter, compared to analysts’ expectations of $140.51 million. During the same period in the prior year, the firm earned $1.21 earnings per share. WD-40’s revenue was up 6.8% compared to the same quarter last year. As a group, equities analysts expect that WD-40 will post 5.22 earnings per share for the current fiscal year.

WD-40 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 19th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $3.52 dividend on an annualized basis and a yield of 1.52%. WD-40’s payout ratio is presently 70.26%.

Hedge Funds Weigh In On WD-40

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC bought a new position in WD-40 in the fourth quarter valued at approximately $510,000. Profit Investment Management LLC bought a new position in WD-40 in the fourth quarter valued at approximately $2,892,000. Aviva PLC bought a new position in WD-40 in the third quarter valued at approximately $586,000. Envestnet Asset Management Inc. boosted its stake in WD-40 by 48.5% in the third quarter. Envestnet Asset Management Inc. now owns 55,725 shares of the specialty chemicals company’s stock valued at $11,325,000 after acquiring an additional 18,205 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in WD-40 by 10.1% in the third quarter. Invesco Ltd. now owns 59,841 shares of the specialty chemicals company’s stock valued at $12,162,000 after acquiring an additional 5,481 shares during the last quarter. 91.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, DA Davidson reissued a “buy” rating and set a $313.00 price target on shares of WD-40 in a research note on Wednesday, April 10th.

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, and the Asia Pacific. The company provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.