Corebridge Financial Inc. Lowers Stock Holdings in WD-40 Company $WDFC

Corebridge Financial Inc. lowered its holdings in shares of WD-40 Company (NASDAQ:WDFC) by 1.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,111 shares of the specialty chemicals company’s stock after selling 139 shares during the quarter. Corebridge Financial Inc. owned approximately 0.05% of WD-40 worth $1,735,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WDFC. Ameriflex Group Inc. purchased a new position in WD-40 during the fourth quarter worth approximately $25,000. Versant Capital Management Inc lifted its position in shares of WD-40 by 96.1% in the first quarter. Versant Capital Management Inc now owns 149 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 73 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of WD-40 by 210.6% in the first quarter. Golden State Wealth Management LLC now owns 146 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 99 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of WD-40 by 82.6% in the first quarter. Parallel Advisors LLC now owns 157 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 71 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of WD-40 by 420.0% in the first quarter. Farther Finance Advisors LLC now owns 156 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 91.52% of the company’s stock.

WD-40 Price Performance

NASDAQ:WDFC opened at $213.58 on Wednesday. WD-40 Company has a one year low of $208.00 and a one year high of $292.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.02 and a current ratio of 2.84. The stock has a market cap of $2.89 billion, a PE ratio of 33.63 and a beta of 0.13. The stock has a 50 day moving average price of $221.92 and a 200 day moving average price of $231.27.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings results on Thursday, July 10th. The specialty chemicals company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.40 by $0.14. The firm had revenue of $156.92 million during the quarter, compared to analysts’ expectations of $160.60 million. WD-40 had a return on equity of 31.23% and a net margin of 14.13%.The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.46 earnings per share. Equities research analysts expect that WD-40 Company will post 5.42 EPS for the current fiscal year.

WD-40 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 18th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, July 18th. This represents a $3.76 annualized dividend and a yield of 1.8%. WD-40’s dividend payout ratio (DPR) is 59.21%.

Analysts Set New Price Targets

Separately, DA Davidson decreased 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $290.00.

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.