WD-40 (NASDAQ:WDFC) Declares $0.72 Quarterly Dividend

WD-40 (NASDAQ:WDFC) announced a quarterly dividend on Monday, October 4th, Zacks reports. Shareholders of record on Friday, October 15th will be paid a dividend of 0.72 per share by the specialty chemicals company on Friday, October 29th. This represents a $2.88 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, October 14th.

WD-40 has raised its dividend by 36.7% over the last three years and has raised its dividend annually for the last 10 consecutive years. WD-40 has a dividend payout ratio of 48.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect WD-40 to earn $5.94 per share next year, which means the company should continue to be able to cover its $2.78 annual dividend with an expected future payout ratio of 46.8%.

WD-40 stock opened at $230.12 on Wednesday. WD-40 has a twelve month low of $192.58 and a twelve month high of $333.42. The stock has a 50 day moving average of $233.96 and a two-hundred day moving average of $248.36. The company has a current ratio of 3.05, a quick ratio of 2.44 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 39.00 and a beta of -0.24.

A number of research analysts recently weighed in on the company. DA Davidson reduced their target price on WD-40 from $295.00 to $277.00 and set a “neutral” rating on the stock in a report on Thursday, July 8th. Zacks Investment Research downgraded WD-40 from a “buy” rating to a “hold” rating in a research report on Thursday, September 9th.

In related news, CEO Garry O. Ridge sold 24,399 shares of the stock in a transaction dated Wednesday, July 21st. The shares were sold at an average price of $243.17, for a total value of $5,933,104.83. Following the completion of the transaction, the chief executive officer now owns 93,533 shares of the company’s stock, valued at $22,744,419.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Geoffrey Holdsworth sold 1,345 shares of the firm’s stock in a transaction that occurred on Thursday, July 22nd. The stock was sold at an average price of $240.93, for a total transaction of $324,050.85. The disclosure for this sale can be found here. Insiders sold 33,819 shares of company stock valued at $8,295,770 over the last quarter. 1.85% of the stock is currently owned by corporate insiders.

An institutional investor recently raised its position in WD-40 stock. Morgan Stanley increased its stake in shares of WD-40 (NASDAQ:WDFC) by 76.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,001 shares of the specialty chemicals company’s stock after acquiring an additional 50,404 shares during the period. Morgan Stanley owned about 0.85% of WD-40 worth $29,730,000 as of its most recent SEC filing. 87.38% of the stock is currently owned by institutional investors and hedge funds.

WD-40 Company Profile

WD-40 Co engages in the development and sale of products that solve problems in workshops, factories and homes. The firm operates through the following geographical segments: Americas, Europe, Middle East and Africa (EMEA) and Asia Pacific. The Americas segment consists of the Unites States, Canada and Latin America.

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Dividend History for WD-40 (NASDAQ:WDFC)

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