Investment Firm Increases Stake in WD-40 (NASDAQ:WDFC) – Insider Buying and Selling, Stock Performance, and Dividend Announcement

Are you looking for some insider tips on where to invest your money? Look no further than WD-40 (NASDAQ:WDFC), a specialty chemicals company that has caught the eye of Profit Investment Management LLC. In a recent disclosure with the Securities and Exchange Commission (SEC), Profit Investment Management LLC revealed that they had increased their stake in WD-40 by a whopping 32.5% during the first quarter. This move saw them purchase an additional 3,926 shares of the company’s stock, bringing their total investment to 16,024 shares valued at $4,059,000.

But Profit Investment Management LLC isn’t the only one taking notice of WD-40. Several other institutional investors and hedge funds have also been making moves with this stock. APG Asset Management US Inc. purchased a new stake in WD-40 worth $38,142,000, while Norges Bank acquired a position valued at $19,697,000. Comerica Bank and Envestnet Asset Management Inc. have also been increasing their holdings in WD-40, showing a growing interest in this company.

In addition to these institutional investments, there has been some interesting insider activity at WD-40. CFO Sara Kathleen Hyzer recently purchased 213 shares of the stock, while Director David Pendarvis bought 328 shares. These insider purchases, along with the overall positive sentiment from institutional investors, could be a sign that WD-40 is a stock worth keeping an eye on.

Despite all this positive activity, WD-40’s stock has seen a slight dip of 0.9% recently. However, with a strong track record of performance and a solid financial outlook, this could be a temporary blip in an otherwise promising investment opportunity. The company recently announced a quarterly dividend, further adding to its appeal for investors looking for steady returns.

Wall Street analysts have also been bullish on WD-40, with DA Davidson reissuing a “buy” rating and setting a price target of $313.00. This vote of confidence from analysts, combined with the growing interest from institutional investors and insiders, paints a positive picture for WD-40’s future prospects.

So, if you’re looking for a stock with strong potential for growth and a solid track record, WD-40 might just be the right choice for you. Keep an eye on this company as it continues to attract attention from investors and analysts alike.