WD-40 (NASDAQ:WDFC) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its stake in WD-40 (NASDAQ:WDFC) by 18.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,079 shares of the specialty chemicals company’s stock after selling 3,028 shares during the quarter. Truist Financial Corp’s holdings in WD-40 were worth $3,127,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC purchased a new position in WD-40 in the fourth quarter valued at $44,000. Pacer Advisors Inc. acquired a new stake in shares of WD-40 during the 4th quarter valued at about $56,000. Strs Ohio increased its stake in shares of WD-40 by 100.0% in the 3rd quarter. Strs Ohio now owns 400 shares of the specialty chemicals company’s stock valued at $81,000 after purchasing an additional 200 shares in the last quarter. Allworth Financial LP raised its holdings in WD-40 by 122.3% in the 4th quarter. Allworth Financial LP now owns 738 shares of the specialty chemicals company’s stock worth $176,000 after purchasing an additional 406 shares during the period. Finally, Mackenzie Financial Corp purchased a new position in WD-40 during the fourth quarter worth approximately $201,000. Hedge funds and other institutional investors own 91.52% of the company’s stock.

Wall Street Analyst Weigh In

Separately, DA Davidson reaffirmed a “buy” rating and set a $313.00 target price on shares of WD-40 in a research note on Wednesday, April 10th.

WD-40 Stock Up 0.6 %

Shares of NASDAQ WDFC opened at $234.64 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. WD-40 has a 52-week low of $182.53 and a 52-week high of $278.78. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 46.83 and a beta of -0.02. The company’s 50-day simple moving average is $244.52 and its 200-day simple moving average is $244.21.

WD-40 (NASDAQ:WDFC) last released its earnings results on Tuesday, April 9th. The specialty chemicals company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.01. WD-40 had a return on equity of 32.30% and a net margin of 12.19%. The business had revenue of $139.10 million for the quarter, compared to the consensus estimate of $140.51 million. During the same quarter last year, the business posted $1.21 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities analysts predict that WD-40 will post 5.22 EPS for the current fiscal year.

WD-40 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 19th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Thursday, April 18th. WD-40’s payout ratio is 70.26%.

Insider Activity

In other WD-40 news, VP Jeffrey G. Lindeman purchased 182 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average cost of $272.42 per share, for a total transaction of $49,580.44. Following the completion of the transaction, the vice president now owns 3,073 shares of the company’s stock, valued at approximately $837,146.66. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Steven A. Brass acquired 432 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was purchased at an average price of $232.22 per share, with a total value of $100,319.04. Following the completion of the acquisition, the chief executive officer now owns 20,547 shares of the company’s stock, valued at approximately $4,771,424.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jeffrey G. Lindeman acquired 182 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average price of $272.42 per share, with a total value of $49,580.44. Following the completion of the transaction, the vice president now owns 3,073 shares of the company’s stock, valued at approximately $837,146.66. The disclosure for this purchase can be found here. Insiders acquired 942 shares of company stock worth $226,897 over the last three months. Insiders own 0.65% of the company’s stock.

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.