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

Truist Financial Corp lowered its holdings in shares of WD-40 (NASDAQ:WDFC) by 23.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Scarborough Advisors LLC bought a new position in shares of WD-40 during the fourth quarter worth about $104,000. Wedmont Private Capital bought a new position in shares of WD-40 during the first quarter worth about $212,000. Profit Investment Management LLC grew its holdings in shares of WD-40 by 32.5% during the first quarter. Profit Investment Management LLC now owns 16,024 shares of the specialty chemicals company’s stock worth $4,059,000 after buying an additional 3,926 shares in the last quarter. Bridge City Capital LLC grew its holdings in shares of WD-40 by 0.8% during the first quarter. Bridge City Capital LLC now owns 5,991 shares of the specialty chemicals company’s stock worth $1,518,000 after buying an additional 45 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of WD-40 by 152.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,689 shares of the specialty chemicals company’s stock worth $428,000 after buying an additional 1,020 shares in the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.

Analysts Set New Price Targets

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

WD-40 Stock Up 0.7 %

WDFC stock opened at $260.85 on Wednesday. WD-40 has a twelve month low of $194.09 and a twelve month high of $278.78. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 51.25 and a beta of -0.08. The business has a 50 day moving average price of $256.01 and a two-hundred day moving average price of $242.12. 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 Dividend Announcement

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

WD-40 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.