Palatine Hill Wealth Management LLC Invests $551,000 in WD-40 Company $WDFC

Palatine Hill Wealth Management LLC acquired a new position in shares of WD-40 Company (NASDAQ:WDFC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,800 shares of the specialty chemicals company’s stock, valued at approximately $551,000. WD-40 makes up 0.4% of Palatine Hill Wealth Management LLC’s investment portfolio, making the stock its 25th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Covestor Ltd raised its stake in shares of WD-40 by 9.8% during the 4th quarter. Covestor Ltd now owns 549 shares of the specialty chemicals company’s stock worth $108,000 after purchasing an additional 49 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of WD-40 by 1.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,050 shares of the specialty chemicals company’s stock worth $601,000 after acquiring an additional 50 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of WD-40 by 6.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 953 shares of the specialty chemicals company’s stock worth $186,000 after acquiring an additional 56 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of WD-40 by 3.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,865 shares of the specialty chemicals company’s stock worth $362,000 after acquiring an additional 56 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of WD-40 by 4.4% during the 3rd quarter. Allworth Financial LP now owns 1,317 shares of the specialty chemicals company’s stock worth $260,000 after acquiring an additional 56 shares during the last quarter. Institutional investors own 91.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WDFC shares. DA Davidson decreased their target price on WD-40 from $300.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, April 10th. William Blair started coverage on WD-40 in a report on Monday, April 6th. They set an “outperform” rating on the stock. Finally, Weiss Ratings lowered WD-40 from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, WD-40 has an average rating of “Moderate Buy” and an average target price of $270.00.

WD-40 Stock Up 1.2%

WDFC stock opened at $199.26 on Wednesday. The company has a current ratio of 2.83, a quick ratio of 1.98 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $2.68 billion, a PE ratio of 33.89 and a beta of 0.30. WD-40 Company has a 1-year low of $175.38 and a 1-year high of $253.24. The business’s 50 day simple moving average is $209.42 and its 200 day simple moving average is $212.66.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings data on Thursday, April 9th. The specialty chemicals company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. WD-40 had a return on equity of 30.23% and a net margin of 12.57%.The firm had revenue of $161.67 million for the quarter, compared to analyst estimates of $154.90 million. During the same period in the prior year, the firm posted $1.32 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts anticipate that WD-40 Company will post 5.99 EPS for the current year.

WD-40 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Friday, April 17th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, April 17th. WD-40’s dividend payout ratio is currently 69.39%.

About WD-40

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.