TrueMark Investments LLC Takes $1.26 Million Position in WD-40 Company $WDFC

Key Points

• TrueMark Investments LLC has acquired a new stake in WD-40 Company, purchasing 5,516 shares for approximately $1.26 million in the second quarter.
• WD-40 recently announced a quarterly dividend of $0.94 per share, with the ex-dividend date set for October 20, 2023.
• The stock currently holds a market capitalization of $2.63 billion and has an average target price of $300.00 according to analyst ratings.

TrueMark Investments LLC purchased a new stake in shares of WD-40 Company (NASDAQ:WDFC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,516 shares of the specialty chemicals company's stock, valued at approximately $1,258,000.

Several other institutional investors also recently bought and sold shares of WDFC. Farther Finance Advisors LLC increased its holdings in WD-40 by 420.0% during the first quarter. Farther Finance Advisors LLC now owns 156 shares of the specialty chemicals company's stock valued at $38,000 after buying an additional 126 shares during the period. GAMMA Investing LLC increased its holdings in WD-40 by 17.0% during the first quarter. GAMMA Investing LLC now owns 468 shares of the specialty chemicals company's stock valued at $114,000 after buying an additional 68 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in WD-40 by 36.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,830 shares of the specialty chemicals company's stock valued at $447,000 after buying an additional 491 shares during the period. Janney Montgomery Scott LLC increased its holdings in WD-40 by 4.8% during the first quarter. Janney Montgomery Scott LLC now owns 2,889 shares of the specialty chemicals company's stock valued at $705,000 after buying an additional 132 shares during the period. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in WD-40 during the first quarter valued at approximately $233,000. 91.52% of the stock is owned by hedge funds and other institutional investors.

WD-40 Price Performance

NASDAQ WDFC opened at $194.48 on Friday. The firm has a market capitalization of $2.63 billion, a P/E ratio of 30.63 and a beta of 0.09. The company has a current ratio of 2.84, a quick ratio of 2.02 and a debt-to-equity ratio of 0.33. WD-40 Company has a 12-month low of $188.43 and a 12-month high of $292.36. The firm's fifty day simple moving average is $208.20 and its two-hundred day simple moving average is $222.93.

WD-40 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 20th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 20th. WD-40's dividend payout ratio is presently 59.21%.

Analyst Ratings Changes

Several brokerages recently issued reports on WDFC. Weiss Ratings reissued a "hold (c)" rating on shares of WD-40 in a report on Wednesday, October 8th. DA Davidson cut their price target on shares of WD-40 from $322.00 to $300.00 and set a "buy" rating on the stock in a report on Friday, July 11th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, WD-40 presently has an average rating of "Moderate Buy" and an average target price of $300.00.

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.

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