Truist Financial Corp Has $605,000 Position in WD-40 (NASDAQ:WDFC)

Truist Financial Corp reduced its position in shares of WD-40 (NASDAQ:WDFC) by 23.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,755 shares of the specialty chemicals company’s stock after selling 837 shares during the quarter. Truist Financial Corp’s holdings in WD-40 were worth $605,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its holdings in WD-40 by 1,131.2% in the 1st quarter. Acadian Asset Management LLC now owns 4,063 shares of the specialty chemicals company’s stock valued at $1,023,000 after acquiring an additional 3,733 shares in the last quarter. Vanguard Group Inc. raised its holdings in WD-40 by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,623,994 shares of the specialty chemicals company’s stock valued at $411,374,000 after acquiring an additional 6,532 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in WD-40 in the 1st quarter valued at $20,491,000. Profit Investment Management LLC raised its holdings in WD-40 by 32.5% in the 1st quarter. Profit Investment Management LLC now owns 16,024 shares of the specialty chemicals company’s stock valued at $4,059,000 after acquiring an additional 3,926 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in WD-40 in the 1st quarter valued at $4,180,000. 91.52% of the stock is owned by institutional investors and hedge funds.

WD-40 Trading Up 0.7 %

Shares of WDFC opened at $260.85 on Wednesday. WD-40 has a 52-week low of $194.09 and a 52-week high of $278.78. The business’s fifty day moving average is $256.01 and its 200-day moving average is $242.12. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.56 and a current ratio of 2.27. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 51.25 and a beta of -0.08.

WD-40 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 18th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $3.52 annualized dividend and a dividend yield of 1.35%. WD-40’s payout ratio is 69.16%.

Analyst Upgrades and Downgrades

Separately, DA Davidson decreased their price target on WD-40 from $313.00 to $303.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th.

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.