Perigon Wealth Management LLC Invests $251,000 in WD-40 (NASDAQ:WDFC)

Perigon Wealth Management LLC purchased a new stake in WD-40 (NASDAQ:WDFC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,083 shares of the specialty chemicals company's stock, valued at approximately $251,000.

Several other hedge funds also recently modified their holdings of WDFC. V Square Quantitative Management LLC acquired a new stake in shares of WD-40 in the third quarter valued at about $29,000. Covestor Ltd boosted its holdings in WD-40 by 41.3% in the third quarter. Covestor Ltd now owns 226 shares of the specialty chemicals company's stock valued at $58,000 after acquiring an additional 66 shares during the last quarter. GAMMA Investing LLC increased its position in WD-40 by 34.9% during the 3rd quarter. GAMMA Investing LLC now owns 325 shares of the specialty chemicals company's stock valued at $84,000 after purchasing an additional 84 shares during the period. Blue Trust Inc. raised its holdings in WD-40 by 28.9% during the 3rd quarter. Blue Trust Inc. now owns 393 shares of the specialty chemicals company's stock worth $101,000 after purchasing an additional 88 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of WD-40 by 28.6% in the 3rd quarter. KBC Group NV now owns 445 shares of the specialty chemicals company's stock worth $115,000 after purchasing an additional 99 shares during the period. Institutional investors and hedge funds own 91.52% of the company's stock.

WD-40 Trading Up 0.5 %

WDFC traded up $1.15 during trading on Thursday, hitting $240.73. The company's stock had a trading volume of 79,544 shares, compared to its average volume of 111,498. The firm has a market capitalization of $3.26 billion, a P/E ratio of 46.12 and a beta of -0.05. WD-40 has a twelve month low of $211.03 and a twelve month high of $292.36. The stock's fifty day moving average price is $247.93 and its 200-day moving average price is $256.94. The company has a quick ratio of 1.75, a current ratio of 2.44 and a debt-to-equity ratio of 0.37.

WD-40 (NASDAQ:WDFC - Get Free Report) last issued its earnings results on Friday, January 10th. The specialty chemicals company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.10. WD-40 had a net margin of 11.78% and a return on equity of 31.68%. The business had revenue of $153.30 million for the quarter, compared to analyst estimates of $147.40 million. During the same period in the prior year, the firm earned $1.28 earnings per share. WD-40's revenue was up 9.2% on a year-over-year basis. Analysts anticipate that WD-40 will post 5.42 EPS for the current year.

WD-40 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.56%. This is a positive change from WD-40's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, January 17th. WD-40's payout ratio is presently 72.03%.

Insider Buying and Selling

In other WD-40 news, Director William B. Noble sold 1,000 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $289.70, for a total transaction of $289,700.00. Following the transaction, the director now owns 7,999 shares in the company, valued at approximately $2,317,310.30. This represents a 11.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.75% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of WD-40 from $250.00 to $280.00 and gave the stock a "hold" rating in a research report on Friday, October 18th. DA Davidson reiterated a "buy" rating and set a $322.00 price target on shares of WD-40 in a report on Monday, January 27th.

WD-40 Company 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.