Corebridge Financial Inc. Cuts Position in WD-40 (NASDAQ:WDFC)

Corebridge Financial Inc. decreased its position in shares of WD-40 (NASDAQ:WDFC) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,250 shares of the specialty chemicals company’s stock after selling 565 shares during the period. Corebridge Financial Inc. owned approximately 0.05% of WD-40 worth $1,759,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WDFC. SRS Capital Advisors Inc. increased its position in shares of WD-40 by 525.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 194 shares of the specialty chemicals company’s stock valued at $47,000 after purchasing an additional 163 shares during the last quarter. GAMMA Investing LLC grew its position in WD-40 by 23.1% during the fourth quarter. GAMMA Investing LLC now owns 400 shares of the specialty chemicals company’s stock valued at $97,000 after acquiring an additional 75 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of WD-40 by 77.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 475 shares of the specialty chemicals company’s stock worth $122,000 after acquiring an additional 208 shares during the last quarter. KBC Group NV boosted its stake in shares of WD-40 by 23.1% in the 4th quarter. KBC Group NV now owns 548 shares of the specialty chemicals company’s stock valued at $133,000 after purchasing an additional 103 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of WD-40 by 70.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the specialty chemicals company’s stock valued at $137,000 after purchasing an additional 233 shares during the last quarter. Institutional investors own 91.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reissued a “buy” rating and issued a $322.00 price target on shares of WD-40 in a research note on Monday, January 27th.

WD-40 Stock Performance

Shares of WDFC stock opened at $247.84 on Thursday. The company has a market capitalization of $3.36 billion, a P/E ratio of 47.48 and a beta of -0.10. WD-40 has a fifty-two week low of $211.03 and a fifty-two week high of $292.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.75 and a current ratio of 2.44. The stock has a 50 day moving average price of $237.30 and a two-hundred day moving average price of $251.92.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings results on Friday, January 10th. The specialty chemicals company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.10. The company had revenue of $153.30 million during the quarter, compared to analyst estimates of $147.40 million. WD-40 had a net margin of 11.78% and a return on equity of 31.68%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 EPS. Analysts expect that WD-40 will post 5.42 earnings per share for the current year.

WD-40 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 18th will be issued a dividend of $0.94 per share. The ex-dividend date is Thursday, April 17th. This represents a $3.76 dividend on an annualized basis and a yield of 1.52%. WD-40’s dividend payout ratio is presently 72.03%.

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.