DA Davidson Weighs in on WD-40’s Q3 2024 Earnings (NASDAQ:WDFC)

WD-40 (NASDAQ:WDFC) – Stock analysts at DA Davidson issued their Q3 2024 earnings estimates for shares of WD-40 in a research note issued to investors on Thursday, April 11th. DA Davidson analyst L. Weiser anticipates that the specialty chemicals company will post earnings of $1.33 per share for the quarter. DA Davidson has a “Buy” rating and a $313.00 price objective on the stock. The consensus estimate for WD-40’s current full-year earnings is $5.22 per share.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings data on Tuesday, April 9th. The specialty chemicals company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.01. The firm had revenue of $139.10 million for the quarter, compared to the consensus estimate of $140.51 million. WD-40 had a net margin of 12.19% and a return on equity of 32.30%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 earnings per share.

WD-40 Stock Performance

Shares of WDFC stock opened at $236.29 on Friday. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 47.16 and a beta of -0.06. The company has a 50 day moving average price of $256.72 and a 200 day moving average price of $240.52. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.58 and a current ratio of 2.27. WD-40 has a one year low of $175.79 and a one year high of $278.78.

WD-40 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 19th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. WD-40’s dividend payout ratio (DPR) is 70.26%.

Insider Buying and Selling at WD-40

In other WD-40 news, VP Jeffrey G. Lindeman bought 182 shares of the company’s stock in a transaction on Monday, February 12th. The shares were bought at an average cost of $272.42 per share, with a total value of $49,580.44. Following the completion of the acquisition, the vice president now owns 3,073 shares of the company’s stock, valued at $837,146.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director David Pendarvis acquired 328 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were acquired at an average price of $234.75 per share, with a total value of $76,998.00. Following the acquisition, the director now directly owns 4,934 shares in the company, valued at $1,158,256.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jeffrey G. Lindeman acquired 182 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $272.42 per share, for a total transaction of $49,580.44. Following the acquisition, the vice president now owns 3,073 shares in the company, valued at $837,146.66. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WD-40

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bridge City Capital LLC boosted its position in shares of WD-40 by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 5,991 shares of the specialty chemicals company’s stock valued at $1,518,000 after purchasing an additional 45 shares in the last quarter. Arizona State Retirement System raised its position in WD-40 by 1.3% during the third quarter. Arizona State Retirement System now owns 3,861 shares of the specialty chemicals company’s stock valued at $785,000 after acquiring an additional 49 shares in the last quarter. Cim Investment Management Inc. raised its position in shares of WD-40 by 3.6% in the first quarter. Cim Investment Management Inc. now owns 1,534 shares of the specialty chemicals company’s stock valued at $273,000 after purchasing an additional 53 shares during the period. Commonwealth Equity Services LLC raised its position in shares of WD-40 by 0.8% in the first quarter. Commonwealth Equity Services LLC now owns 7,783 shares of the specialty chemicals company’s stock valued at $1,385,000 after purchasing an additional 59 shares during the period. Finally, Baird Financial Group Inc. grew its stake in shares of WD-40 by 3.2% in the first quarter. Baird Financial Group Inc. now owns 2,075 shares of the specialty chemicals company’s stock worth $380,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 91.52% of the company’s stock.

WD-40 Company Profile

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.