WD-40 (NASDAQ:WDFC) Trading Down 3.5% – Here’s What Happened

WD-40 Company (NASDAQ:WDFC)’s stock price was down 3.5% during mid-day trading on Wednesday . The company traded as low as $202.66 and last traded at $196.4660. Approximately 107,398 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 140,456 shares. The stock had previously closed at $203.60.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WDFC shares. DA Davidson set a $300.00 target price on shares of WD-40 in a report on Wednesday, November 26th. Weiss Ratings reissued a “hold (c)” rating on shares of WD-40 in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, WD-40 presently has an average rating of “Moderate Buy” and an average target price of $300.00.

WD-40 Stock Performance

The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 29.41 and a beta of 0.16. The firm’s 50-day moving average is $197.48 and its two-hundred day moving average is $211.07. The company has a current ratio of 2.79, a quick ratio of 2.01 and a debt-to-equity ratio of 0.32.

WD-40 (NASDAQ:WDFC) last announced its earnings results on Wednesday, October 22nd. The specialty chemicals company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.30. The business had revenue of $163.47 million during the quarter, compared to analysts’ expectations of $153.90 million. WD-40 had a return on equity of 31.84% and a net margin of 14.68%.The business’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 earnings per share. WD-40 has set its FY 2025 guidance at 5.750-6.150 EPS. As a group, sell-side analysts expect that WD-40 Company will post 5.42 earnings per share for the current year.

WD-40 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be paid a dividend of $1.02 per share. This is a boost from WD-40’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, January 16th. This represents a $4.08 annualized dividend and a yield of 2.1%. WD-40’s dividend payout ratio is presently 56.29%.

Insiders Place Their Bets

In other WD-40 news, CEO Steven A. Brass bought 362 shares of the firm’s stock in a transaction on Tuesday, October 28th. The shares were acquired at an average cost of $200.46 per share, with a total value of $72,566.52. Following the purchase, the chief executive officer directly owned 33,761 shares of the company’s stock, valued at $6,767,730.06. This trade represents a 1.08% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Sara Kathleen Hyzer purchased 200 shares of the company’s stock in a transaction dated Tuesday, October 28th. The stock was bought at an average price of $200.46 per share, with a total value of $40,092.00. Following the completion of the transaction, the chief financial officer directly owned 5,935 shares of the company’s stock, valued at approximately $1,189,730.10. This represents a 3.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 2,640 shares of company stock valued at $522,765. Corporate insiders own 0.78% of the company’s stock.

Institutional Trading of WD-40

Several large investors have recently added to or reduced their stakes in WDFC. Alliancebernstein L.P. raised its stake in WD-40 by 6.4% during the third quarter. Alliancebernstein L.P. now owns 533,738 shares of the specialty chemicals company’s stock worth $105,467,000 after purchasing an additional 32,333 shares during the period. Geode Capital Management LLC raised its position in shares of WD-40 by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 399,186 shares of the specialty chemicals company’s stock valued at $91,059,000 after buying an additional 5,621 shares during the period. Ameriprise Financial Inc. lifted its holdings in WD-40 by 24.4% in the second quarter. Ameriprise Financial Inc. now owns 333,505 shares of the specialty chemicals company’s stock valued at $76,069,000 after acquiring an additional 65,423 shares during the last quarter. Dimensional Fund Advisors LP grew its position in WD-40 by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 284,095 shares of the specialty chemicals company’s stock worth $56,135,000 after acquiring an additional 5,173 shares during the period. Finally, Geneva Capital Management LLC increased its stake in WD-40 by 0.3% during the third quarter. Geneva Capital Management LLC now owns 264,136 shares of the specialty chemicals company’s stock worth $52,193,000 after acquiring an additional 835 shares during the last quarter. 91.52% of the stock is currently 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.