State of New Jersey Common Pension Fund D Sells 1,170 Shares of WD-40 (NASDAQ:WDFC)

State of New Jersey Common Pension Fund D lowered its holdings in WD-40 (NASDAQ:WDFC) by 10.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,353 shares of the specialty chemicals company’s stock after selling 1,170 shares during the period. State of New Jersey Common Pension Fund D’s holdings in WD-40 were worth $2,475,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in WD-40 in the 4th quarter valued at $44,000. Pacer Advisors Inc. acquired a new position in WD-40 in the 4th quarter valued at approximately $56,000. Strs Ohio lifted its position in shares of WD-40 by 100.0% in the 3rd quarter. Strs Ohio now owns 400 shares of the specialty chemicals company’s stock worth $81,000 after acquiring an additional 200 shares during the period. Allworth Financial LP grew its holdings in shares of WD-40 by 122.3% during the 4th quarter. Allworth Financial LP now owns 738 shares of the specialty chemicals company’s stock worth $176,000 after purchasing an additional 406 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of WD-40 during the fourth quarter valued at approximately $201,000. 91.52% of the stock is owned by institutional investors.

Insider Activity

In other WD-40 news, VP Jeffrey G. Lindeman purchased 182 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $272.42 per share, with a total value of $49,580.44. Following the acquisition, the vice president now directly owns 3,073 shares of the company’s stock, valued at approximately $837,146.66. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Steven A. Brass purchased 432 shares of WD-40 stock in a transaction that occurred on Tuesday, April 16th. The shares were acquired at an average price of $232.22 per share, for a total transaction of $100,319.04. Following the transaction, the chief executive officer now directly owns 20,547 shares in the company, valued at $4,771,424.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jeffrey G. Lindeman acquired 182 shares of the stock in a transaction on Monday, February 12th. The stock was bought at an average price of $272.42 per share, with a total value of $49,580.44. Following the transaction, the vice president now directly owns 3,073 shares in the company, valued at approximately $837,146.66. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 942 shares of company stock worth $226,897. Insiders own 0.65% of the company’s stock.

WD-40 Stock Performance

NASDAQ:WDFC opened at $226.31 on Thursday. The firm has a market capitalization of $3.07 billion, a PE ratio of 45.17 and a beta of -0.02. 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 has a 12-month low of $181.38 and a 12-month high of $278.78. The firm has a 50-day moving average price of $247.30 and a 200 day moving average price of $243.17.

WD-40 (NASDAQ:WDFC) last announced its quarterly earnings results on Tuesday, April 9th. The specialty chemicals company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.13 by $0.01. The business had revenue of $139.10 million for the quarter, compared to analyst estimates of $140.51 million. WD-40 had a return on equity of 32.30% and a net margin of 12.19%. WD-40’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 EPS. Research analysts anticipate that WD-40 will post 5.22 earnings per share for the current fiscal year.

WD-40 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 19th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Thursday, April 18th. WD-40’s payout ratio is 70.26%.

Analysts Set New Price Targets

Separately, DA Davidson reiterated a “buy” rating and set a $313.00 price target on shares of WD-40 in a research note on Wednesday, April 10th.

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.