Sara K. Hyzer, the Vice President of Finance and Chief Financial Officer of WD-40 Company (NASDAQ:WDFC), has recently purchased company shares, according to a new SEC filing. The transaction, which took place on May 9, 2024, involved the acquisition of 213 shares of common stock at a price of $232.83 per share, totaling over $49,592.
The purchase by Hyzer, who is an officer of the company, signals a noteworthy investment in WD-40 Company's stock. Following this transaction, Hyzer's direct ownership in the company has increased to a total of 2,676 shares. This total includes 1,868 unvested Restricted Stock Units (RSUs) and shares held in Hyzer's WD-40 Company Profit Sharing / 401(k) Plan account. It is important to note that this figure was affected by the liquidation of 12 shares at $187.59 each by the 401(k) plan administrator on May 1, 2023. This action was taken to return excess 401(k) contributions for the tax year 2022 to Hyzer, leaving a net of 370 shares currently held in the account as of May 10, 2024.
The purchase reflects confidence from Hyzer in the company's prospects, as insider transactions are often closely watched by investors for signals about a company's financial health and future performance. WD-40 Company, known for its namesake lubricant product, operates within the miscellaneous chemical products industry and is incorporated in Delaware.
This recent filing provides current and potential investors with insight into the actions of WD-40 Company's executives, which may be a factor in their investment decisions. The details of the transaction were formally documented in the SEC Form 4 filed on May 10, 2024.
InvestingPro Insights
In light of the recent share purchase by Sara K. Hyzer, the Vice President of Finance and Chief Financial Officer of WD-40 Company (NASDAQ:WDFC), investors may find additional context from InvestingPro data and tips valuable. The company's financial health and market performance are of particular interest following insider transactions, which can be indicative of executive confidence in the company's future.
InvestingPro data shows that WD-40 Company has a market capitalization of $3.15 billion, with a Price/Earnings (P/E) ratio of 46.09, reflecting a high valuation of the company's earnings. The Price/Book (P/B) ratio stands at 14.54, suggesting that investors are willing to pay a premium for WD-40's net assets. The company's revenue growth over the last twelve months as of Q2 2024 has been 10.31%, indicating a solid trajectory in sales.
An InvestingPro Tip worth noting is that WD-40 has a perfect Piotroski Score of 9, which is a strong indicator of the company's financial stability and profitability. Additionally, WD-40 has raised its dividend for 8 consecutive years, demonstrating a commitment to returning value to shareholders. This could be particularly appealing to income-focused investors, considering the company's history of maintaining dividend payments for 32 consecutive years.
For investors seeking more detailed analysis and additional InvestingPro Tips, there are 15 more tips available on InvestingPro's platform. These insights can be accessed through a subscription, and readers can use the promo code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. These tips provide a deeper understanding of WD-40's valuation metrics, dividend reliability, and overall financial health, which could influence investment decisions in the context of the company's recent insider share purchase.
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