IHT Wealth Management LLC Takes Position in WD-40 (NASDAQ:WDFC)

IHT Wealth Management LLC acquired a new position in WD-40 (NASDAQ:WDFC) in the third quarter, Holdings Channel reports. The firm acquired 872 shares of the specialty chemicals company’s stock, valued at approximately $225,000.

Other hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of WD-40 in the third quarter valued at approximately $29,000. Covestor Ltd increased its holdings in WD-40 by 41.3% during the 3rd quarter. Covestor Ltd now owns 226 shares of the specialty chemicals company’s stock valued at $58,000 after purchasing an additional 66 shares in the last quarter. Blue Trust Inc. acquired a new stake in shares of WD-40 in the second quarter valued at $67,000. GAMMA Investing LLC increased its stake in shares of WD-40 by 34.9% in the 3rd quarter. GAMMA Investing LLC now owns 325 shares of the specialty chemicals company’s stock valued at $84,000 after buying an additional 84 shares during the period. Finally, KBC Group NV grew its position in shares of WD-40 by 28.6% during the 3rd quarter. KBC Group NV now owns 445 shares of the specialty chemicals company’s stock worth $115,000 after buying an additional 99 shares during the period. 91.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other WD-40 news, Director William B. Noble sold 800 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $256.98, for a total value of $205,584.00. Following the completion of the sale, the director now owns 8,999 shares in the company, valued at approximately $2,312,563.02. The trade was a 8.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WDFC shares. DA Davidson reaffirmed a “buy” rating and set a $322.00 price objective on shares of WD-40 in a research report on Monday, November 18th. Jefferies Financial Group lifted their price objective on shares of WD-40 from $250.00 to $280.00 and gave the company a “hold” rating in a research note on Friday, October 18th.

WD-40 Stock Performance

Shares of WDFC stock opened at $272.17 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $269.75 and a 200-day moving average of $252.57. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 53.26 and a beta of -0.07. WD-40 has a 52 week low of $211.03 and a 52 week high of $292.36.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Thursday, October 17th. The specialty chemicals company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.11). WD-40 had a return on equity of 31.53% and a net margin of 11.79%. The firm had revenue of $156.00 million for the quarter, compared to analysts’ expectations of $149.20 million. During the same quarter last year, the firm posted $1.21 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities analysts forecast that WD-40 will post 5.36 earnings per share for the current year.

WD-40 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 18th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Friday, October 18th. WD-40’s dividend payout ratio (DPR) is currently 68.88%.

WD-40 Profile

WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.