WD-40 Company (NASDAQ:WDFC) Announces Quarterly Dividend of $1.02

WD-40 Company (NASDAQ:WDFC) declared a quarterly dividend on Thursday, October 8th. Shareholders of record on Monday, October 19th will be given a dividend of $1.02 per share by the specialty chemicals company on Friday, October 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, October 19th.

WD-40 has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 17 years. WD-40 has a dividend payout ratio of 68.3% meaning its dividend is sufficiently covered by earnings. Analysts expect WD-40 to earn $6.47 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 63.1%.

WD-40 Stock Up 1.2%

Shares of WDFC stock opened at $203.90 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.65 and a quick ratio of 1.95. WD-40 has a one year low of $175.38 and a one year high of $298.90. The company’s fifty day moving average price is $211.34 and its 200-day moving average price is $217.28. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 30.99 and a beta of 0.27.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings results on Thursday, July 9th. The specialty chemicals company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.75. WD-40 had a return on equity of 33.53% and a net margin of 13.23%.The business had revenue of $195.12 million during the quarter, compared to analyst estimates of $172.79 million. During the same quarter in the prior year, the business posted $1.54 EPS. WD-40’s revenue for the quarter was up 24.3% compared to the same quarter last year. Sell-side analysts expect that WD-40 will post 6.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings cut WD-40 from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, September 18th. Jefferies Financial Group reiterated a “hold” rating on shares of WD-40 in a report on Friday, July 10th. Northcoast Research upgraded shares of WD-40 to a “strong-buy” rating in a research note on Wednesday, June 24th. Zacks Research cut WD-40 from a “strong-buy” rating to a “hold” rating in a report on Friday, September 11th. Finally, DA Davidson increased their price target on WD-40 from $270.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $305.00.

About WD-40

WD-40 Company develops and markets maintenance, cleaning, and homecare products for consumer, professional, and industrial users. Its best-known product is WD-40 Multi-Use Product, a water-displacing formula used to loosen stuck parts, protect against corrosion, remove residue, and lubricate equipment.

The company also offers specialty maintenance products under the WD-40 Specialist brand, as well as products marketed under brands such as 3-IN-ONE, GT85, and 1001. These products serve automotive, industrial, marine, construction, household, and do-it-yourself applications.

Founded in 1953 and headquartered in San Diego, California, WD-40 Company sells its products through retailers, distributors, and industrial channels in markets around the world.