WD-40 (NASDAQ:WDFC) Issues Earnings Results, Beats Estimates By $0.01 EPS

WD-40 (NASDAQ:WDFC) issued its quarterly earnings data on Tuesday. The specialty chemicals company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.01, Briefing.com reports. The firm had revenue of $139.10 million during the quarter, compared to the consensus estimate of $140.51 million. WD-40 had a return on equity of 33.51% and a net margin of 12.57%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.21 EPS. WD-40 updated its FY24 guidance to $5.00-$5.30 EPS and its FY 2024 guidance to 5.000-5.300 EPS.

WD-40 Trading Down 8.6 %

NASDAQ:WDFC opened at $233.18 on Thursday. WD-40 has a 1 year low of $171.15 and a 1 year high of $278.78. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 45.90 and a beta of -0.06. The business has a fifty day moving average of $257.70 and a 200-day moving average of $240.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.58 and a current ratio of 2.40.

WD-40 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 19th will be paid a $0.88 dividend. The ex-dividend date is Thursday, April 18th. This represents a $3.52 annualized dividend and a dividend yield of 1.51%. WD-40’s payout ratio is 69.29%.

Insider Transactions at WD-40

In other WD-40 news, VP Jeffrey G. Lindeman purchased 182 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was bought at an average price of $272.42 per share, with a total value of $49,580.44. Following the completion of the purchase, the vice president now owns 3,073 shares in the company, valued at approximately $837,146.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of WD-40 during the fourth quarter valued at $20,289,000. Morgan Stanley lifted its holdings in shares of WD-40 by 49.5% during the third quarter. Morgan Stanley now owns 313,844 shares of the specialty chemicals company’s stock valued at $63,786,000 after purchasing an additional 103,949 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of WD-40 by 27.4% during the first quarter. First Trust Advisors LP now owns 328,113 shares of the specialty chemicals company’s stock valued at $60,120,000 after purchasing an additional 70,598 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of WD-40 by 28.3% during the fourth quarter. Northern Trust Corp now owns 195,731 shares of the specialty chemicals company’s stock valued at $46,793,000 after purchasing an additional 43,179 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of WD-40 by 36.7% during the second quarter. Goldman Sachs Group Inc. now owns 121,804 shares of the specialty chemicals company’s stock valued at $24,526,000 after purchasing an additional 32,679 shares during the last quarter. Institutional investors own 91.52% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson restated a “buy” rating and set a $313.00 price objective on shares of WD-40 in a research note on Wednesday.

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.