WD-40 (NASDAQ:WDFC) Sees Strong Trading Volume – What’s Next?

Shares of WD-40 (NASDAQ:WDFC) saw an uptick in trading volume on Monday . 257,719 shares were traded during mid-day trading, an increase of 149% from the previous session’s volume of 103,643 shares.The stock last traded at $240.03 and had previously closed at $243.63.

Analysts Set New Price Targets

Separately, DA Davidson upgraded shares of WD-40 to a “strong-buy” rating in a report on Monday, April 14th.

WD-40 Price Performance

The company has a quick ratio of 1.75, a current ratio of 2.44 and a debt-to-equity ratio of 0.37. The stock has a market cap of $3.27 billion, a P/E ratio of 46.20 and a beta of 0.17. The firm’s fifty day moving average price is $233.32 and its 200-day moving average price is $242.22.

WD-40 (NASDAQ:WDFC) last issued its earnings results on Tuesday, April 8th. The specialty chemicals company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.05. WD-40 had a net margin of 11.78% and a return on equity of 31.68%. The firm had revenue of $146.10 million for the quarter, compared to analysts’ expectations of $154.40 million. During the same quarter last year, the business earned $1.14 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. Analysts forecast that WD-40 will post 5.42 earnings per share for the current year.

WD-40 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 18th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, April 17th. WD-40’s dividend payout ratio (DPR) is currently 59.97%.

Insider Activity at WD-40

In related news, CFO Sara Kathleen Hyzer purchased 256 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The shares were acquired at an average price of $222.83 per share, for a total transaction of $57,044.48. Following the completion of the acquisition, the chief financial officer now directly owns 4,072 shares in the company, valued at approximately $907,363.76. The trade was a 6.71% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.75% of the stock is currently owned by company insiders.

Institutional Trading of WD-40

Several large investors have recently added to or reduced their stakes in WDFC. Strs Ohio purchased a new position in WD-40 during the first quarter valued at $146,000. Bayforest Capital Ltd purchased a new position in WD-40 during the first quarter valued at $491,000. United Services Automobile Association purchased a new position in WD-40 during the first quarter valued at $211,000. Caxton Associates LLP purchased a new position in WD-40 during the first quarter valued at $225,000. Finally, Jones Financial Companies Lllp lifted its position in WD-40 by 476.2% during the first quarter. Jones Financial Companies Lllp now owns 3,734 shares of the specialty chemicals company’s stock valued at $911,000 after buying an additional 3,086 shares during the period. Institutional investors own 91.52% of the company’s stock.

About WD-40

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.