Shares of WD-40 Co. (NASDAQ:WDFC) rose 0.5% on Tuesday following a dividend announcement from the company. The company traded as high as $112.68 and last traded at $112.33, with a volume of 82,322 shares trading hands. The stock had previously closed at $111.75.
The newly announced dividend which will be paid on Monday, October 31st. Stockholders of record on Friday, October 21st will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.50%. WD-40’s dividend payout ratio is 48.70%.
Several brokerages have recently issued reports on WDFC. B. Riley restated a “neutral” rating and set a $106.00 target price on shares of WD-40 in a research report on Monday, July 11th. Zacks Investment Research upgraded shares of WD-40 from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. Finally, Jefferies Group began coverage on shares of WD-40 in a research report on Thursday, August 25th. They set a “hold” rating and a $120.00 target price on the stock.
The stock has a market cap of $1.60 billion, a P/E ratio of 32.57 and a beta of 0.71. The company’s 50-day moving average is $115.88 and its 200 day moving average is $112.52.
In other WD-40 news, Director Daniel E. Pittard purchased 295 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were purchased at an average cost of $115.00 per share, with a total value of $33,925.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Geoffrey Holdsworth sold 1,427 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $120.27, for a total transaction of $171,625.29. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in WD-40 by 121.0% in the first quarter. BlackRock Inc. now owns 977 shares of the company’s stock valued at $105,000 after buying an additional 535 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of WD-40 during the second quarter worth approximately $131,000. Victory Capital Management Inc. increased its position in shares of WD-40 by 77.1% in the second quarter. Victory Capital Management Inc. now owns 1,146 shares of the company’s stock worth $135,000 after buying an additional 499 shares during the period. GAM Holding AG purchased a new position in shares of WD-40 during the second quarter worth approximately $164,000. Finally, Advisor Group Inc. purchased a new position in shares of WD-40 during the second quarter worth approximately $165,000. 75.97% of the stock is currently owned by hedge funds and other institutional investors.
WD-40 Company, is a global consumer Products Company. As of August 31, 2012, the Company’s products included WD-40 Smart Straw, WD-40 Trigger Pro, 3-IN-ONE Professional Garage Door Lube, Spot Shot Pet Clean which is a non-aerosol Spot Shot trigger product, and a mildew stain remover under the X-14 brand.
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