Palatine Hill Wealth Management LLC Purchases New Holdings in WD-40 Company $WDFC

Palatine Hill Wealth Management LLC purchased a new stake in WD-40 Company (NASDAQ:WDFC) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 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 biggest position.

Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of WD-40 by 4.6% during the 1st quarter. Royal Bank of Canada now owns 20,621 shares of the specialty chemicals company’s stock worth $5,032,000 after purchasing an additional 901 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of WD-40 by 7.4% during the 1st quarter. AQR Capital Management LLC now owns 6,366 shares of the specialty chemicals company’s stock worth $1,553,000 after purchasing an additional 437 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of WD-40 by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,096 shares of the specialty chemicals company’s stock worth $1,975,000 after purchasing an additional 343 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of WD-40 by 6.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,578 shares of the specialty chemicals company’s stock worth $385,000 after purchasing an additional 98 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of WD-40 by 476.2% during the 1st quarter. Jones Financial Companies Lllp now owns 3,734 shares of the specialty chemicals company’s stock worth $911,000 after purchasing an additional 3,086 shares in the last quarter. 91.52% of the stock is currently owned by institutional investors.

WD-40 Stock Performance

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

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

WD-40 Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Weiss Ratings lowered WD-40 from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. DA Davidson reduced 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. Finally, William Blair assumed coverage on WD-40 in a report on Monday, April 6th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $270.00.

WD-40 Company Profile

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.