BidaskClub Lowers WD-40 (NASDAQ:WDFC) to Strong Sell

BidaskClub downgraded shares of WD-40 (NASDAQ:WDFC) from a sell rating to a strong sell rating in a report released on Friday morning, BidAskClub reports.

Other equities analysts also recently issued research reports about the stock. ValuEngine downgraded shares of WD-40 from a strong-buy rating to a buy rating in a research note on Wednesday, March 20th. Zacks Investment Research downgraded shares of WD-40 from a buy rating to a hold rating in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. WD-40 has an average rating of Hold and a consensus price target of $164.50.

WD-40 stock opened at $162.16 on Friday. WD-40 has a twelve month low of $143.75 and a twelve month high of $187.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.49 and a current ratio of 2.07. The firm has a market cap of $2.24 billion, a PE ratio of 39.26, a P/E/G ratio of 3.56 and a beta of 0.30.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings data on Tuesday, April 9th. The specialty chemicals company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. WD-40 had a return on equity of 39.13% and a net margin of 16.24%. The business had revenue of $101.30 million for the quarter, compared to analyst estimates of $104.10 million. During the same quarter in the prior year, the company earned $1.05 earnings per share. The company’s revenue was up .0% on a year-over-year basis. Analysts predict that WD-40 will post 4.56 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 19th will be paid a dividend of $0.61 per share. The ex-dividend date is Thursday, July 18th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.50%. WD-40’s payout ratio is currently 59.08%.

In related news, insider Steven A. Brass sold 822 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $164.30, for a total transaction of $135,054.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel E. Pittard bought 400 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were purchased at an average price of $165.00 per share, with a total value of $66,000.00. The disclosure for this purchase can be found here. Insiders own 2.09% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WDFC. Norges Bank acquired a new position in WD-40 in the fourth quarter valued at $11,018,000. Acadian Asset Management LLC boosted its stake in WD-40 by 23.8% in the first quarter. Acadian Asset Management LLC now owns 307,345 shares of the specialty chemicals company’s stock valued at $52,076,000 after acquiring an additional 59,158 shares in the last quarter. BlackRock Inc. boosted its stake in WD-40 by 2.4% in the first quarter. BlackRock Inc. now owns 2,045,376 shares of the specialty chemicals company’s stock valued at $346,569,000 after acquiring an additional 47,977 shares in the last quarter. Martingale Asset Management L P boosted its stake in WD-40 by 2,758.3% in the first quarter. Martingale Asset Management L P now owns 42,903 shares of the specialty chemicals company’s stock valued at $7,270,000 after acquiring an additional 41,402 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its stake in WD-40 by 178.4% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 41,358 shares of the specialty chemicals company’s stock valued at $7,008,000 after acquiring an additional 26,500 shares in the last quarter. Institutional investors own 89.29% 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 offers multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name for various consumer uses and industrial applications; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bicycle maintenance products comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics under the WD-40 Bike brand name.

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