WD-40 (NASDAQ:WDFC) Price Target Increased to $280.00 by Analysts at Jefferies Financial Group

WD-40 (NASDAQ:WDFC) had its price target boosted by Jefferies Financial Group from $250.00 to $280.00 in a research report report published on Friday, Benzinga reports. They currently have a hold rating on the specialty chemicals company’s stock.

Separately, DA Davidson raised their price target on WD-40 from $303.00 to $322.00 and gave the stock a “buy” rating in a research report on Friday.

WD-40 Trading Down 4.8 %

NASDAQ:WDFC opened at $251.25 on Friday. WD-40 has a 52-week low of $194.09 and a 52-week high of $278.78. The company has a quick ratio of 1.56, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $256.53 and a 200-day simple moving average of $242.44. The company has a market capitalization of $3.40 billion, a PE ratio of 49.36 and a beta of -0.08.

WD-40 (NASDAQ:WDFC) last announced its earnings results on Thursday, October 17th. The specialty chemicals company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.11). The business had revenue of $156.00 million for the quarter, compared to analyst estimates of $149.20 million. WD-40 had a return on equity of 32.43% and a net margin of 12.07%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 EPS. On average, equities research analysts expect that WD-40 will post 5.22 earnings per share for the current fiscal year.

WD-40 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 18th will be issued a dividend of $0.88 per share. The ex-dividend date is Friday, October 18th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.40%. WD-40’s dividend payout ratio (DPR) is presently 69.16%.

Institutional Trading of WD-40

Hedge funds have recently bought and sold shares of the company. Jupiter Asset Management Ltd. acquired a new position in WD-40 in the 1st quarter valued at $20,491,000. Millennium Management LLC increased its stake in WD-40 by 80.5% in the second quarter. Millennium Management LLC now owns 69,650 shares of the specialty chemicals company’s stock valued at $15,298,000 after purchasing an additional 31,055 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in WD-40 during the first quarter worth about $4,180,000. Lazard Asset Management LLC boosted its stake in WD-40 by 83.6% in the 1st quarter. Lazard Asset Management LLC now owns 26,226 shares of the specialty chemicals company’s stock worth $6,642,000 after buying an additional 11,939 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in WD-40 by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,623,994 shares of the specialty chemicals company’s stock valued at $411,374,000 after buying an additional 6,532 shares during the period. Institutional investors and hedge funds 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.