Trivant Custom Portfolio Group LLC, an institutional investor, has recently made a significant move in the stock market. According to its most recent filing with the Securities and Exchange Commission (SEC), the company has acquired a new position in WD-40 shares during the first quarter of this year. The purchase amounted to 563 shares of this specialty chemicals company’s stock, which is valued at approximately $100,000.
This development indicates Trivant Custom Portfolio Group LLC’s confidence in WD-40’s potential for growth and profitability. This institutional investor’s decision to invest in WD-40 aligns with their investment strategy, as they seek opportunities that have the potential to generate solid returns.
A further analysis of WD-40 reveals that the company recently announced a quarterly dividend payment. This dividend was paid out on Monday, July 31st to shareholders of record as of Friday, July 14th. Each shareholder received a dividend of $0.83 per share. The ex-dividend date for this payment was Thursday, July 13th.
It is worth noting that WD-40 has consistently demonstrated its commitment to rewarding its shareholders through dividend distributions. The current annualized dividend payout stands at $3.32 per share with a dividend yield of 1.64%. These figures showcase the company’s dedication to providing value to its investors by delivering regular cash returns based on its profits.
The dividend payout ratio for WD-40 currently stands at 70.79%. This indicates that nearly three-quarters of the company’s earnings are being allocated towards dividends payments, ensuring that shareholders receive a substantial portion of its profits.
In summary, Trivant Custom Portfolio Group LLC’s acquisition of shares in WD-40 demonstrates their confidence in the future prospects of this specialty chemicals company. Moreover, WD-40’s commitment to distributing dividends showcases its efforts to reward shareholders who have placed their trust and investment in the company.
As always, it is important for investors to conduct thorough research and analysis before making any investment decisions. This article is based on publicly available information as of September 13, 2023, and should not be considered as financial advice. It is recommended to consult with a professional financial advisor for personalized guidance based on individual circumstances and investment goals.
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Investor Activity and Analyst Insight Surrounding WD-40
In recent months, there has been significant activity surrounding WD-40, a specialty chemicals company, as large investors have either increased or reduced their stakes in the company. Cim Investment Management Inc., for instance, has seen an increase of 3.6% in its holdings during the first quarter. This translates to 1,534 shares of WD-40’s stock now being owned by Cim Investment Management Inc., which are valued at $273,000. In comparison to the previous quarter, an additional 53 shares were purchased.
Oppenheimer Asset Management Inc. is another investor that has experienced an increase in holdings during the first quarter. They now own 2,409 shares of WD-40’s stock worth $429,000 after purchasing an additional 55 shares. Commonwealth Equity Services LLC also saw a fractional increase of 0.8% in their holdings during the same period. As a result, they currently own 7,783 shares valued at $1,385,000 after purchasing an additional 59 shares.
Baird Financial Group Inc. and First Republic Investment Management Inc. are two other investment firms that have added to their holdings in WD-40 during the first quarter by 3.2% and 0.9%, respectively. Baird Financial Group Inc.’s new holdings account for 2,075 shares worth $380,000 after acquiring an extra 65 shares in the last quarter while First Republic Investment Management Inc. now owns 7,399 shares valued at $1,317,000 after purchasing an additional 66 shares.
These institutional investors collectively contribute to holding approximately 91.52% ownership of WD-40’s stock.
Several research firms have provided their analysis on WDFC recently as well.
DA Davidson increased its price objective for WD-40 from $228.00 to $232.00 in a research note on July 11th while TheStreet upgraded WD-40’s rating from “c+” to “b-” in a research note on July 10th. StockNews.com also began the coverage of WD-40 and assigned a “hold” rating for the company on August 17th.
As of Wednesday, WD-40’s stock opened at $202.40. The company has seen a one-year low of $145.16 and a one-year high of $234.69. With a market cap of $2.75 billion, WD-40 currently holds a price-to-earnings ratio of 43.16 and a beta of -0.15. The firm also maintains a fifty-day moving average of $216.99 and a two-hundred-day moving average of $195.92 while boasting a debt-to-equity ratio of 0.53, as well as current and quick ratios of 2.62 and 1.62.
In its most recent earnings report on July 10th, WD-40 reported an earnings per share (EPS) of $1.38 for the quarter, surpassing the consensus estimate by $0.16 with a net margin of 12.18% and return on equity (ROE) reaching 32.79%. The company recorded revenue amounting to $141.72 million during the quarter compared to the consensus estimate which speculated $138.40 million in revenue for the same period last year.
Analysts predict that for this fiscal year, WD-40’s earnings per share will reach an average value of 4.86.
Overall, it is evident that WD-40 has caught the attention of various investors who have adjusted their holdings accordingly based on their faith in the company’s performance and potential for growth in the future.
