HB Wealth Management LLC Acquires New Shares in WD-40 Company $WDFC

HB Wealth Management LLC acquired a new stake in WD-40 Company (NASDAQ:WDFC) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 915 shares of the specialty chemicals company’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC lifted its stake in shares of WD-40 by 210.6% in the 1st quarter. Golden State Wealth Management LLC now owns 146 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 99 shares during the last quarter. Farther Finance Advisors LLC lifted its position in WD-40 by 420.0% during the 1st quarter. Farther Finance Advisors LLC now owns 156 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 126 shares during the last quarter. Parallel Advisors LLC lifted its position in WD-40 by 82.6% during the 1st quarter. Parallel Advisors LLC now owns 157 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 71 shares during the last quarter. Blue Trust Inc. lifted its position in WD-40 by 656.4% during the 1st quarter. Blue Trust Inc. now owns 295 shares of the specialty chemicals company’s stock worth $72,000 after acquiring an additional 256 shares during the last quarter. Finally, Covestor Ltd lifted its position in WD-40 by 49.3% during the 1st quarter. Covestor Ltd now owns 306 shares of the specialty chemicals company’s stock worth $75,000 after acquiring an additional 101 shares during the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of WD-40 in a research report on Saturday, September 27th. DA Davidson cut their target price on shares of WD-40 from $322.00 to $300.00 and set a “buy” rating for the company in a research report on Friday, July 11th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, WD-40 currently has an average rating of “Hold” and an average target price of $290.00.

WD-40 Stock Performance

NASDAQ WDFC opened at $193.98 on Wednesday. The stock has a market cap of $2.62 billion, a P/E ratio of 30.55 and a beta of 0.09. The company’s 50-day simple moving average is $212.16 and its 200 day simple moving average is $225.65. WD-40 Company has a twelve month low of $190.67 and a twelve month high of $292.36. The company has a quick ratio of 2.02, a current ratio of 2.84 and a debt-to-equity ratio of 0.33.

WD-40 (NASDAQ:WDFC) last posted its earnings results on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.14. The business had revenue of $156.92 million for the quarter, compared to analysts’ expectations of $160.60 million. WD-40 had a net margin of 14.13% and a return on equity of 31.23%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 earnings per share. As a group, research analysts forecast that WD-40 Company will post 5.42 earnings per share for the current fiscal year.

About WD-40

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.