WD-40 (NASDAQ:WDFC – Get Rating) introduced its earnings outcomes on Monday. The specialty chemical compounds firm reported $1.02 earnings per share for the quarter, lacking analysts’ consensus estimates of $1.09 by ($0.07), MarketWatch Earnings studies. The corporate had income of $124.89 million for the quarter, in comparison with the consensus estimate of $140.70 million. WD-40 had a web margin of 12.98% and a return on fairness of 34.48%. The corporate’s income for the quarter was down 7.3% on a year-over-year foundation. Throughout the identical interval within the earlier 12 months, the agency posted $1.34 EPS. WD-40 up to date its FY 2023 steering to $5.09-$5.24 EPS and its FY23 steering to $5.09-5.24 EPS.
WD-40 Inventory Efficiency
WDFC stock traded up $1.47 on Monday, hitting $162.60. The corporate had a buying and selling quantity of 268,057 shares, in comparison with its common quantity of 131,491. WD-40 has a 12-month low of $145.16 and a 12-month excessive of $255.31. The corporate has a present ratio of two.25, a fast ratio of 1.31 and a debt-to-equity ratio of 0.57. The inventory’s 50-day easy shifting common is $165.57 and its 200 day easy shifting common is $177.18. The inventory has a market cap of $2.21 billion, a price-to-earnings ratio of 33.18 and a beta of -0.18.
WD-40 Will increase Dividend
The enterprise additionally not too long ago introduced a quarterly dividend, which will likely be paid on Tuesday, January thirty first. Buyers of file on Friday, January thirteenth will likely be issued a $0.83 dividend. The ex-dividend date is Thursday, January twelfth. This represents a $3.32 annualized dividend and a yield of two.04%. This can be a increase from WD-40’s earlier quarterly dividend of $0.78. WD-40’s dividend payout ratio (DPR) is presently 63.67%.
Analyst Rankings Adjustments
Various brokerages have not too long ago weighed in on WDFC. DA Davidson lifted their goal worth on shares of WD-40 from $205.00 to $207.00 and gave the corporate a “purchase” score in a analysis word on Thursday, October twentieth. StockNews.com initiated protection on shares of WD-40 in a report on Wednesday, October twelfth. They issued a “maintain” score on the inventory.
Insiders Place Their Bets
In different WD-40 information, insider Patricia Q. Olsem offered 625 shares of the inventory in a transaction that occurred on Thursday, November tenth. The shares had been offered at a median worth of $165.00, for a complete worth of $103,125.00. Following the transaction, the insider now instantly owns 3,181 shares within the firm, valued at $524,865. The transaction was disclosed in a authorized submitting with the Securities & Alternate Fee, which will be accessed via this hyperlink. In associated information, CEO Steven A. Brass purchased 632 shares of the enterprise’s inventory in a transaction that occurred on Wednesday, October twenty sixth. The inventory was purchased at a median price of $158.16 per share, with a complete worth of $99,957.12. Following the completion of the acquisition, the chief govt officer now owns 15,389 shares of the corporate’s inventory, valued at roughly $2,433,924.24. The acquisition was disclosed in a submitting with the Securities & Alternate Fee, which is accessible via the SEC website. Additionally, insider Patricia Q. Olsem offered 625 shares of the agency’s inventory in a transaction on Thursday, November tenth. The shares had been offered at a median worth of $165.00, for a complete transaction of $103,125.00. Following the transaction, the insider now instantly owns 3,181 shares of the corporate’s inventory, valued at $524,865. The disclosure for this sale will be discovered here. Insiders personal 1.50% of the corporate’s inventory.
Hedge Funds Weigh In On WD-40
A number of institutional buyers have not too long ago purchased and offered shares of the inventory. BlackRock Inc. grew its stake in WD-40 by 1.2% through the first quarter. BlackRock Inc. now owns 2,125,850 shares of the specialty chemical compounds firm’s inventory valued at $389,520,000 after buying a further 25,648 shares within the final quarter. Vanguard Group Inc. grew its stake in shares of WD-40 by 0.7% within the third quarter. Vanguard Group Inc. now owns 1,623,323 shares of the specialty chemical compounds firm’s inventory price $285,283,000 after shopping for a further 11,000 shares within the final quarter. State Avenue Corp grew its stake in shares of WD-40 by 0.7% within the 2nd quarter. State Avenue Corp now owns 482,808 shares of the specialty chemical compounds firm’s inventory price $97,218,000 after shopping for a further 3,270 shares within the final quarter. First Belief Advisors LP grew its stake in shares of WD-40 by 27.4% within the 1st quarter. First Belief Advisors LP now owns 328,113 shares of the specialty chemical compounds firm’s inventory price $60,120,000 after shopping for a further 70,598 shares within the final quarter. Lastly, Financial institution of New York Mellon Corp grew its stake in shares of WD-40 by 1.6% within the third quarter. Financial institution of New York Mellon Corp now owns 165,347 shares of the specialty chemical compounds firm’s inventory price $29,056,000 after shopping for a further 2,564 shares within the final quarter. 92.24% of the inventory is owned by hedge funds and different institutional buyers.
WD-40 Firm develops and sells upkeep merchandise, and homecare and cleansing merchandise within the Americas, Europe, the Center East, Africa, Australia, and the Asia Pacific. The corporate gives multi-purpose upkeep merchandise that embrace aerosol sprays, non-aerosol set off sprays, and in liquid-bulk kind merchandise beneath the WD-40 Multi-Use model identify; and specialty upkeep merchandise, equivalent to penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers beneath the WD-40 Specialist model, in addition to numerous merchandise beneath the WD-40 Bike model identify.
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