WD-40 (NASDAQ:WDFC) Hits New 1-Year Low – Here’s Why

WD-40 (NASDAQ:WDFC) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $208.00 and last traded at $221.35, with a volume of 291803 shares changing hands. The stock had previously closed at $217.49.

Wall Street Analyst Weigh In

Separately, DA Davidson reiterated a “buy” rating and issued a $322.00 price objective on shares of WD-40 in a research report on Monday, January 27th.

WD-40 Stock Performance

The stock’s 50 day moving average is $236.35 and its two-hundred day moving average is $250.26. The firm has a market capitalization of $3.00 billion, a P/E ratio of 42.40 and a beta of 0.03. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.44 and a quick ratio of 1.75.

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

WD-40 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 18th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, April 17th. WD-40’s payout ratio is 72.03%.

Hedge Funds Weigh In On WD-40

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sweeney & Michel LLC acquired a new stake in shares of WD-40 in the 1st quarter valued at approximately $250,000. Profit Investment Management LLC raised its holdings in WD-40 by 5.8% in the first quarter. Profit Investment Management LLC now owns 10,591 shares of the specialty chemicals company’s stock worth $2,584,000 after purchasing an additional 585 shares during the period. Parallel Advisors LLC boosted its position in shares of WD-40 by 82.6% during the first quarter. Parallel Advisors LLC now owns 157 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 71 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of WD-40 by 28,448.0% in the 1st quarter. GAMMA Investing LLC now owns 114,192 shares of the specialty chemicals company’s stock valued at $27,863,000 after buying an additional 113,792 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of WD-40 by 96.1% in the 1st quarter. Versant Capital Management Inc now owns 149 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 73 shares in the last quarter. 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.