William B. Noble, Group Managing Director for EIMEA at WD-40 Co. (NASDAQ:WDFC), has sold 800 shares of the company's common stock, according to a recent SEC filing. The shares were sold at a price of $256.98 each, totaling $205,584. Following this transaction, Noble holds 8,999 shares directly.
The filing also reported that Noble had shares withheld to satisfy tax obligations upon the vesting of various stock units. These transactions involved the withholding of 245 shares from Restricted Stock Units (RSUs), 204 shares from Market Share Units (MSUs), and 71 shares from Performance Stock Units (PSUs). After these withholdings, Noble's total direct ownership stands at 8,999 shares, which includes unvested RSUs, restricted common stock from settled PSUs, and vested deferred performance units.
In other recent news, WD-40 Company (NASDAQ:WDFC) reported record-breaking fourth quarter net sales of $156 million, marking 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. Additionally, DA Davidson maintained a Buy rating on WD-40 shares and raised the price target to $322 from $303, reflecting confidence in the company's future performance.
The firm's guidance for fiscal year 2025 projects sales growth between 6% to 11% year-over-year, which surpasses the consensus estimate of 6%. Earnings per share (EPS) are also anticipated to outperform expectations, with a forecasted increase of 9% to 14%. However, the planned divestiture of the household cleaners business in the first half of fiscal 2025 is expected to reduce annual sales by $23 million and EPS by $0.33.
In light of these developments, DA Davidson initiated an EPS estimate of $5.93 for fiscal year 2026 and adjusted the price target based on a 53 times multiple of the estimated calendar year 2026 EPS of $6.07. Despite a 4% decrease in U.S. sales compared to last year, WD-40 remains optimistic about its future growth prospects, driven by a strategic focus on geographic expansion, product growth, and digital commerce enhancement.
InvestingPro Insights
WD-40 Co. (NASDAQ:WDFC) has demonstrated strong financial performance and shareholder value, as evidenced by recent InvestingPro data. The company's revenue growth of 9.92% over the last twelve months and 11.06% in the most recent quarter indicates robust demand for its products. This growth aligns with the insider selling activity, as executives may be capitalizing on the company's positive momentum.
InvestingPro Tips highlight that WD-40 has raised its dividend for 9 consecutive years and has maintained dividend payments for 32 consecutive years. This commitment to shareholder returns is further supported by a current dividend yield of 1.33% and a dividend growth rate of 6.02% over the last twelve months. These factors may contribute to investor confidence, potentially influencing the stock's performance.
The company's valuation metrics, such as a P/E ratio of 51.64 and a Price / Book ratio of 15.52, suggest that the stock is trading at premium multiples. An InvestingPro Tip notes that WD-40 is trading at a high earnings multiple, which could be a reflection of investor optimism about the company's future prospects.
For investors seeking a more comprehensive analysis, InvestingPro offers 14 additional tips for WD-40 Co., providing deeper insights into the company's financial health and market position.
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