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Deutsche Bank AG acquired a new position in shares of WD-40 Company (NASDAQ:WDFC – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 22,346 shares of the specialty chemicals company’s stock, valued at approximately $5,444,000. Deutsche Bank AG owned approximately 0.17% of WD-40 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of WDFC. Quarry LP boosted its holdings in shares of WD-40 by 1,462.5% in the 3rd quarter. Quarry LP now owns 125 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 117 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of WD-40 by 207.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 157 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 106 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in WD-40 by 400.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 215 shares of the specialty chemicals company’s stock worth $42,000 after acquiring an additional 172 shares in the last quarter. Parallel Advisors LLC raised its stake in WD-40 by 195.4% during the 3rd quarter. Parallel Advisors LLC now owns 257 shares of the specialty chemicals company’s stock worth $51,000 after acquiring an additional 170 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in WD-40 by 243.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 278 shares of the specialty chemicals company’s stock valued at $55,000 after acquiring an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 91.52% of the company’s stock.

Analyst Upgrades and Downgrades Several equities analysts have issued reports on the stock. Zacks Research upgraded shares of WD-40 from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. DA Davidson lifted their target price on WD-40 from $270.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Northcoast Research raised WD-40 to a “strong-buy” rating in a report on Wednesday, June 24th. Jefferies Financial Group reissued a “hold” rating on shares of WD-40 in a research report on Friday, July 10th. Finally, Weiss Ratings downgraded WD-40 from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, WD-40 currently has a consensus rating of “Buy” and a consensus target price of $305.00.

View Our Latest Stock Analysis on WDFC Insider Transactions at WD-40 In other WD-40 news, insider Patricia Q. Olsem sold 300 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $233.73, for a total transaction of $70,119.00. Following the completion of the transaction, the insider owned 4,774 shares in the company, valued at approximately $1,115,827.02. This represents a 5.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.78% of the company’s stock.

WD-40 Price Performance Shares of WDFC opened at $215.89 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 2.65. WD-40 Company has a fifty-two week low of $175.38 and a fifty-two week high of $298.90. The firm has a 50-day simple moving average of $235.76 and a 200-day simple moving average of $225.02. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 32.81 and a beta of 0.27.

WD-40 (NASDAQ:WDFC – Get Free Report) last posted its quarterly earnings data on Thursday, July 9th. The specialty chemicals company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.75. WD-40 had a return on equity of 33.53% and a net margin of 13.23%.The company had revenue of $195.12 million during the quarter, compared to analysts’ expectations of $172.79 million. During the same period last year, the firm earned $1.54 EPS. The firm’s revenue for the quarter was up 24.3% on a year-over-year basis. WD-40 has set its FY 2026 guidance at 6.050-6.350 EPS. On average, equities research analysts anticipate that WD-40 Company will post 6.24 earnings per share for the current year.

WD-40 Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, July 17th. WD-40’s dividend payout ratio (DPR) is 62.01%.

WD-40 Company Profile (Free Report)

WD-40 Company, headquartered in San Diego, California, is best known for its flagship WD-40® Multi-Use Product, a water-displacing spray used for lubrication, rust prevention and cleaning. Since its introduction in 1953 by the Rocket Chemical Company, the WD-40 brand has become a household and industrial staple. Over time, the company has broadened its portfolio to include complementary maintenance and cleaning brands such as 3-IN-ONE® oils, Lava® hand cleaners, Solvol® solvents, Spot Shot® stain removers and X-14® cleaning products.

WD-40 Company distributes its products in more than 176 countries through retail, industrial and automotive channels.

See Also Five stocks we like better than WD-40 Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain Snowflake Could Be Headed for New Highs Despite Insider Selling MongoDB Is Surging—And the Next Catalyst Is Almost Here Want to see what other hedge funds are holding WDFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WD-40 Company (NASDAQ:WDFC – Free Report).

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Why WD-40 Is Proving Great Businesses Never Go Out of StyleWD-40 NASDAQ: WDFC outlined its long-term growth strategy, supply-chain approach and capital-allocation priorities during a Water Tower Research fireside chat, with management emphasizing international expansion, premium product formats, digital capabilities and specialist maintenance products.

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President and CEO Steve Brass said the company’s long-term growth algorithm targets mid- to high-single-digit maintenance product sales growth, gross margin above 55%, and EBITDA growth that exceeds sales growth. The strategy is organized around four “must-win battles,” including expanding WD-40 Multi-Use Product geographically, premiumizing its product mix, growing the WD-40 Specialist line and expanding digital capabilities.

International Markets Drive Expansion Opportunity WD-40 Company Justifies Sell-Side Support With Q2 ResultsBrass said the United States provides a stable base for global expansion, representing about 35% of global sales. The company’s U.S. maintenance-products business has posted a compound annual growth rate of roughly 6% to 7% over the past five years, he said, while U.S. sales increased by approximately $55 million over that period.

International markets account for about 65% of the business, and the WD-40 brand is available in 176 countries and territories, according to Brass. The company is focused on its top 20 global growth opportunities.

WD-40 Stock Sank After Earnings—Here Are 5 Reasons Bulls Aren’t WorriedLatin America has approximately tripled over the past five to six years, Brass said. Meanwhile, the company’s direct European markets—including the U.K., France, Germany, Spain and Italy—generate about 30% of total business and have delivered single-digit to high-single-digit growth, with occasional double-digit gains.

China is WD-40’s largest growth opportunity and its third-largest market globally after the U.S. and France, Brass said. The company operates a direct China business with about 60 employees and is generating double-digit growth there. India is the company’s second-largest opportunity, with sales growth above 20% through its partnership with local company Pidilite. India is already WD-40’s second-largest market by unit volume, Brass said.

Premium Formats and Specialist Products CFO Sara Hyzer said premiumization centers on improving the end-user experience through formats such as the WD-40 Smart Straw and EZ-REACH products. Smart Straw addresses the issue of users losing the straw included with the classic can, while EZ-REACH includes a flexible straw intended to help users access difficult-to-reach areas.

Sales of the two premium formats combined rose 19% year to date and represented about 50% of WD-40 Multi-Use Product sales, Hyzer said. By unit volume, premium formats accounted for about 40% of global Multi-Use Product sales, leaving what management views as a significant runway for further adoption.

Premium formats account for roughly 80% of sales in developed markets such as the U.S., compared with low-single-digit penetration in some emerging markets. Hyzer said WD-40 is nearing the availability of manufacturing capacity in China that would allow it to introduce Smart Straw products in China and Asian distributor markets.

Smart Straw sells at about a 30% uplift to the classic can. EZ-REACH sells at about a 45% uplift to the classic can. The company targets 10% annual growth for the premium formats. Brass said the WD-40 Specialist line, which includes products such as high-performance penetrants, high-temperature lubricants, silicone sprays and cleaners and degreasers, is the company’s fastest-growing range. The sub-brand has grown at a compound annual rate of about 14%, he said.

The company sees an identified growth opportunity of around $600 million for Specialist products. Brass said about 90% of Specialist sales currently come from 10 countries, creating an opportunity to expand the line into additional markets where the core WD-40 brand is already established.

Digital Growth, Margins and Supply Chain Hyzer described digital as an accelerant for the company’s broader strategy rather than a standalone channel effort. E-commerce remains less than 10% of sales but is WD-40’s fastest-growing channel, with year-to-date e-commerce sales up 22%, led by the U.S. and China.

The company sells entirely through retail, online pure-play and omnichannel partners rather than directly to consumers. Hyzer said WD-40 is investing in product content, search, availability, ratings and reviews, while also using social media, influencers, video and digital education to explain product uses and premium-format benefits.

On costs, Hyzer said roughly 30% to 35% of the cost of a WD-40 can is subject to monthly spot-price volatility, primarily related to specialty chemicals such as solvents and base oils. Tinplate cans and manufacturing fees are generally governed by longer-term contracts.

The company expects some near-term gross-margin pressure from input costs and included a full-year gross-margin expectation of 54.5% to 55.5% in its recent guidance. WD-40 has taken price actions in Europe and Asia and is evaluating whether further actions are needed, Hyzer said.

Brass said WD-40 uses a decentralized supply chain with approximately 20 external manufacturing partners globally. The company is opening manufacturing in Thailand to add capacity in Asia-Pacific, where it already manufactures in China and Australia. Management said localized production helps provide flexibility and mitigate tariff exposure.

Capital Returns and CFO Transition Hyzer said the company’s first capital-allocation priority is reinvesting in brands, people, digital capabilities, supply-chain resilience and productivity. Capital expenditures are targeted at approximately 1% to 2% of net sales due to the company’s outsourced manufacturing and distribution model.

WD-40 has paid dividends without interruption for more than 40 years, Hyzer said, and targets annual dividends of about 50% of net income. The company also uses share repurchases, spending $22.5 million on buybacks through the third quarter. Its board recently authorized a new share-repurchase plan of up to $100 million beginning next fiscal year.

Brass also said Hyzer is expected to transition from CFO to president of the Americas, a region representing about 45% of global revenue. The company is conducting an external search for an experienced public-company CFO, with Hyzer expected to leave the CFO role around early November and a successor hoped to begin at that time.

About WD-40 (NASDAQ:WDFC)WD-40 Company, headquartered in San Diego, California, is best known for its flagship WD-40® Multi-Use Product, a water-displacing spray used for lubrication, rust prevention and cleaning. Since its introduction in 1953 by the Rocket Chemical Company, the WD-40 brand has become a household and industrial staple. Over time, the company has broadened its portfolio to include complementary maintenance and cleaning brands such as 3-IN-ONE® oils, Lava® hand cleaners, Solvol® solvents, Spot Shot® stain removers and X-14® cleaning products.

WD-40 Company distributes its products in more than 176 countries through retail, industrial and automotive channels.

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WD-40 Company (WDFC) Q3 2026 Earnings Call July 9, 2026 5:00 PM EDT

Company Participants

Wendy Kelley - Director of Investor Relations & Corporate Communications
Steven Brass - CEO, President & Director
Sara Hyzer - CFO, VP of Finance & Treasurer

Conference Call Participants

Aaron Reed - Northcoast Research Partners, LLC
Michael Baker - D.A. Davidson & Co., Research Division
David Shakno - William Blair & Company L.L.C., Research Division
Daniel Rizzo - Jefferies LLC, Research Division
Linda Weiser - Water Tower Research LLC

Presentation

Operator

Good day, and welcome to WD-40 Company's Third Quarter Fiscal Year 2026 Earnings Conference Call. Today's call is being recorded. [Operator Instructions]

I will now turn the call over to Wendy Kelley, Vice President, Stakeholder and Investor Engagement. Please go ahead.

Wendy Kelley
Director of Investor Relations & Corporate Communications

Thank you, and good afternoon. Thank you for joining us today. On our call today are WD-40 Company's President and Chief Executive Officer, Steve Brass; and Vice President and Chief Financial Officer, Sara Hyzer.

In addition to today's discussion, we encourage investors to review our earnings presentation, press release and Form 10-Q for the period ending May 31, 2026, available on our Investor Relations website at investor.wd40company.com. A replay and transcript of today's call will also be posted shortly. We will discuss certain non-GAAP measures today. Reconciliations to GAAP results are available in our SEC filings and earnings materials. Today's call also includes forward-looking statements. Actual results may differ materially. Please refer to the risk factors in our SEC filings for more information. Finally, please note that all information presented is current as of July 9, 2026, and we undertake no obligation to update forward-looking statements.

With that, I'll turn the call over to Steve.

Steven Brass
CEO, President & Director

Thanks, Wendy, and thanks to everyone for joining us