SAN DIEGO — William B. Noble, the Group Managing Director of WD-40 Co. (NASDAQ:WDFC), has sold 1,000 shares of the company's common stock. The shares were sold on November 13 at an average price of $289.70, with the sale prices ranging from $289.17 to $289.85. This transaction totals approximately $289,700.
Following the sale, Noble retains ownership of 7,999 shares, which includes a combination of unvested restricted stock units, restricted common stock from performance stock units, and vested deferred performance units.
The transaction was documented in a recent SEC filing, signed by Ann T. Nguyen, acting as attorney-in-fact for Noble.
In other recent news, WD-40 has reported record-breaking fourth quarter net sales of $156 million, an 11% increase year-over-year. The company's full-year sales of the WD-40 Multi-Use Product also saw an 11% rise, reaching $453 million. The firm's guidance for fiscal year 2025 projects sales growth between 6% to 11% year-over-year, outpacing the consensus estimate. Despite plans to divest the household cleaners business, which is expected to reduce annual sales by $23 million and EPS by $0.33, the company's CEO, Steve Brass, has strategized for accelerating top-line growth.
DA Davidson has raised the price target for WD-40 shares to $322 from $303, maintaining a Buy rating. The firm's EPS estimate for fiscal year 2026 is $5.93, reflecting confidence in the company's future performance. WD-40's strong performance across global markets, particularly in EIMEA and Asia Pacific segments, has been highlighted.
These recent developments indicate WD-40's strategic focus on geographic expansion, product growth, and digital commerce enhancement. The divestiture process of home care and cleaning brands in the Americas and the U.K. is expected to complete in the first half of fiscal year 2025, potentially boosting annual gross margins by approximately 60 basis points.
InvestingPro Insights
While William B. Noble's recent sale of 1,000 WD-40 Co. shares might raise eyebrows, it's essential to consider the broader financial picture of the company. According to InvestingPro data, WD-40 Co. boasts a market capitalization of $3.8 billion, reflecting its significant presence in the consumer goods sector.
The company's financial health appears robust, with revenue growth of 9.92% over the last twelve months and a strong gross profit margin of 53.38%. This solid performance is further underscored by an InvestingPro Tip indicating that WD-40 has maintained dividend payments for 32 consecutive years, demonstrating a commitment to shareholder returns.
However, investors should note that WD-40 is trading at a high P/E ratio of 55.17, which suggests the stock may be priced at a premium compared to its earnings. This valuation metric aligns with another InvestingPro Tip highlighting that the company is trading at a high earnings multiple.
For those seeking a more comprehensive analysis, InvestingPro offers 12 additional tips on WD-40 Co., providing deeper insights into the company's financial position and market performance.
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