DA Davidson Reaffirms Buy Rating for WD-40 (NASDAQ:WDFC)

DA Davidson reissued their buy rating on shares of WD-40 (NASDAQ:WDFC) in a research report report published on Tuesday morning,Benzinga reports. DA Davidson currently has a $322.00 target price on the specialty chemicals company’s stock. DA Davidson also issued estimates for WD-40’s FY2026 earnings at $5.94 EPS.

Separately, Jefferies Financial Group increased their price target on WD-40 from $250.00 to $280.00 and gave the company a “hold” rating in a research note on Friday, October 18th.

WD-40 Price Performance

Shares of WDFC stock opened at $231.33 on Tuesday. WD-40 has a twelve month low of $211.03 and a twelve month high of $292.36. The company has a quick ratio of 1.75, a current ratio of 2.44 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $256.86 and a 200 day simple moving average of $257.17. The company has a market cap of $3.13 billion, a P/E ratio of 44.32 and a beta of -0.04.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings results on Friday, January 10th. The specialty chemicals company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.10. The company had revenue of $153.30 million for the quarter, compared to the consensus estimate of $147.40 million. WD-40 had a net margin of 11.78% and a return on equity of 31.68%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company posted $1.28 EPS. On average, sell-side analysts forecast that WD-40 will post 5.36 EPS for the current fiscal year.

WD-40 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.63%. This is a positive change from WD-40’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, January 17th. WD-40’s payout ratio is presently 72.03%.

Insider Activity

In other news, Director William B. Noble sold 1,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $289.70, for a total value of $289,700.00. Following the completion of the sale, the director now owns 7,999 shares of the company’s stock, valued at approximately $2,317,310.30. This represents a 11.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On WD-40

A number of hedge funds and other institutional investors have recently made changes to their positions in WDFC. V Square Quantitative Management LLC bought a new position in WD-40 during the 3rd quarter worth approximately $29,000. Covestor Ltd boosted its stake in shares of WD-40 by 41.3% in the 3rd quarter. Covestor Ltd now owns 226 shares of the specialty chemicals company’s stock valued at $58,000 after purchasing an additional 66 shares during the last quarter. GAMMA Investing LLC increased its position in shares of WD-40 by 34.9% during the third quarter. GAMMA Investing LLC now owns 325 shares of the specialty chemicals company’s stock worth $84,000 after buying an additional 84 shares during the period. Blue Trust Inc. lifted its holdings in WD-40 by 28.9% in the third quarter. Blue Trust Inc. now owns 393 shares of the specialty chemicals company’s stock valued at $101,000 after buying an additional 88 shares during the period. Finally, KBC Group NV boosted its position in WD-40 by 28.6% during the third quarter. KBC Group NV now owns 445 shares of the specialty chemicals company’s stock valued at $115,000 after acquiring an additional 99 shares during the last quarter. 91.52% of the stock is owned by institutional investors and hedge funds.

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.