WD-40 Company – Top Materials Stocks
WD-40 is one of the most well-known lubricants in the world. It is used for rust prevention and as a water displacer. However, the formula for WD-40 has never been patented and continues to be a trade secret. The WD-40 Company sells various cleaning and maintenance products, including lubricants, degreasers, etc. WD-40 is a household name with a very strong brand value.
Additionally, its ability to develop several products based on the WD-40 formulation offers its economies of scale and cost advantages over competitors. The company has grown in the past and is poised to continue that trend into the future as well. So, if you want to buy the best basic materials stocks, then WD-40 can be a candidate for investment. Basic materials have been rising lately as commodity prices are on an uptrend. So, the basic materials sector has received a fair amount of attention from investors.
WD-40 Company Background
The WD-40 Company was originally known as the Rocket Chemical Company. That business was founded back in 1953 in San Diego. The founders were Cyril Irving, Iver Norman Lawson, Norman Roulette, and Robert Roulette. Reginald Fleet is also believed to be a founding member of the company. In 1958, Norman Larsen proposed the idea of packaging WD-40 into aerosol cans and selling them to the consumer segment. In 1969, the name of the Rocket Chemical Company was changed to the WD-40 Company. In 1973, the company was listed on the Nasdaq stock exchange. Today, it trades under the ticker symbol WDFC, and the stock is also a part of the S&P 600 index. WDFC is certainly a household name with a long track record if you are looking to analyze top materials stocks.
Buy Best Basic Materials Stocks
WDFC’s stock last traded at $233.28 on 5th November 2021. If you wonder what the full form of WD-40 is, then it stands for water displacement, 40th formula. Interestingly, WDFC was offering a 1.23% dividend yield on 5th November.