State of New Jersey Common Pension Fund D Cuts Position in WD-40 Company $WDFC

State of New Jersey Common Pension Fund D trimmed its stake in WD-40 Company (NASDAQ:WDFC) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,766 shares of the specialty chemicals company’s stock after selling 657 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of WD-40 worth $1,771,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in WDFC. Ameritas Advisory Services LLC bought a new position in WD-40 in the second quarter worth about $30,000. Covestor Ltd grew its position in shares of WD-40 by 49.3% in the 1st quarter. Covestor Ltd now owns 306 shares of the specialty chemicals company’s stock worth $75,000 after buying an additional 101 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of WD-40 by 17.0% during the 1st quarter. GAMMA Investing LLC now owns 468 shares of the specialty chemicals company’s stock worth $114,000 after acquiring an additional 68 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in WD-40 by 17.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 522 shares of the specialty chemicals company’s stock valued at $127,000 after acquiring an additional 76 shares during the last quarter. Finally, State of Wyoming boosted its stake in WD-40 by 22.2% in the first quarter. State of Wyoming now owns 566 shares of the specialty chemicals company’s stock valued at $138,000 after acquiring an additional 103 shares in the last quarter. Institutional investors own 91.52% of the company’s stock.

WD-40 Trading Up 0.3%

NASDAQ:WDFC opened at $194.28 on Monday. The company has a market capitalization of $2.63 billion, a P/E ratio of 29.08 and a beta of 0.09. The company has a current ratio of 2.79, a quick ratio of 2.01 and a debt-to-equity ratio of 0.32. WD-40 Company has a 12 month low of $187.40 and a 12 month high of $292.36. The firm has a fifty day simple moving average of $203.58 and a 200-day simple moving average of $220.93.

WD-40 (NASDAQ:WDFC) last issued its earnings results on Wednesday, October 22nd. The specialty chemicals company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.30. WD-40 had a return on equity of 31.84% and a net margin of 14.68%.The company had revenue of $163.47 million during the quarter, compared to analyst estimates of $153.90 million. During the same quarter last year, the business posted $1.23 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. WD-40 has set its FY 2025 guidance at 5.750-6.150 EPS. On average, equities research analysts anticipate that WD-40 Company will post 5.42 earnings per share for the current year.

WD-40 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 20th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, October 20th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.9%. WD-40’s payout ratio is 56.29%.

Insider Activity

In other WD-40 news, Director Eric Etchart acquired 500 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was acquired at an average cost of $194.02 per share, for a total transaction of $97,010.00. Following the purchase, the director owned 8,370 shares in the company, valued at approximately $1,623,947.40. The trade was a 6.35% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven A. Brass acquired 362 shares of the company’s stock in a transaction dated Tuesday, October 28th. The stock was acquired at an average cost of $200.46 per share, for a total transaction of $72,566.52. Following the completion of the acquisition, the chief executive officer directly owned 33,761 shares in the company, valued at approximately $6,767,730.06. The trade was a 1.08% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 2,640 shares of company stock valued at $522,765. 0.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WDFC. Weiss Ratings reiterated a “hold (c)” rating on shares of WD-40 in a report on Wednesday, October 8th. DA Davidson reduced their target price on WD-40 from $322.00 to $300.00 and set a “buy” rating on the stock in a research report on Friday, July 11th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, WD-40 presently has a consensus rating of “Moderate Buy” and an average target price of $300.00.

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.