WD-40 (NASDAQ:WDFC) Posts Earnings Results, Beats Estimates By $0.09 EPS

WD-40 (NASDAQ:WDFC) issued its quarterly earnings data on Wednesday. The specialty chemicals company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.09, MarketWatch Earnings reports. The firm had revenue of $134.75 million during the quarter, compared to analysts’ expectations of $129.20 million. WD-40 had a net margin of 14.39% and a return on equity of 36.72%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned $1.72 earnings per share.

WD-40 stock opened at $234.01 on Friday. WD-40 has a fifty-two week low of $207.11 and a fifty-two week high of $333.42. The stock has a market cap of $3.21 billion, a PE ratio of 45.97 and a beta of -0.22. The firm’s 50-day simple moving average is $235.56 and its 200 day simple moving average is $237.63. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.16 and a current ratio of 2.81.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 31st. Investors of record on Friday, January 14th will be issued a dividend of $0.78 per share. The ex-dividend date is Thursday, January 13th. This is a boost from WD-40’s previous quarterly dividend of $0.72. This represents a $3.12 annualized dividend and a yield of 1.33%. WD-40’s payout ratio is 56.58%.

A number of brokerages have recently issued reports on WDFC. DA Davidson lifted their price objective on shares of WD-40 from $238.00 to $277.00 and gave the company a “neutral” rating in a report on Thursday, October 21st. Zacks Investment Research upgraded shares of WD-40 from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 22nd. Finally, TheStreet upgraded shares of WD-40 from a “c+” rating to a “b-” rating in a report on Thursday, December 23rd.

In other WD-40 news, VP Richard T. Clampitt sold 3,420 shares of WD-40 stock in a transaction dated Friday, October 22nd. The shares were sold at an average price of $218.24, for a total value of $746,380.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.33% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Jane Street Group LLC raised its position in WD-40 by 30.5% in the third quarter. Jane Street Group LLC now owns 2,718 shares of the specialty chemicals company’s stock worth $629,000 after acquiring an additional 636 shares during the period. UBS Group AG raised its position in WD-40 by 2.6% in the third quarter. UBS Group AG now owns 4,889 shares of the specialty chemicals company’s stock worth $1,132,000 after acquiring an additional 123 shares during the period. Finally, Morgan Stanley raised its position in WD-40 by 76.8% in the second quarter. Morgan Stanley now owns 116,001 shares of the specialty chemicals company’s stock worth $29,730,000 after acquiring an additional 50,404 shares during the period. 86.96% of the stock is currently owned by institutional investors and hedge funds.

About WD-40

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.

Further Reading: Leveraged Buyout (LBO)

Earnings History for WD-40 (NASDAQ:WDFC)

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