New York State Teachers Retirement System Trims Holdings in WD-40 Company $WDFC

New York State Teachers Retirement System cut its holdings in WD-40 Company (NASDAQ:WDFC) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 17,998 shares of the specialty chemicals company’s stock after selling 100 shares during the quarter. New York State Teachers Retirement System’s holdings in WD-40 were worth $4,105,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameritas Advisory Services LLC purchased a new stake in WD-40 during the 2nd quarter valued at about $30,000. Golden State Wealth Management LLC grew its position in WD-40 by 210.6% during the 1st quarter. Golden State Wealth Management LLC now owns 146 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 99 shares during the last quarter. Farther Finance Advisors LLC grew its position in WD-40 by 420.0% during the 1st quarter. Farther Finance Advisors LLC now owns 156 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 126 shares during the last quarter. Blue Trust Inc. grew its position in WD-40 by 656.4% during the 1st quarter. Blue Trust Inc. now owns 295 shares of the specialty chemicals company’s stock valued at $72,000 after purchasing an additional 256 shares during the last quarter. Finally, Covestor Ltd grew its position in WD-40 by 49.3% during the 1st quarter. Covestor Ltd now owns 306 shares of the specialty chemicals company’s stock valued at $75,000 after purchasing an additional 101 shares during the last quarter. 91.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WDFC has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of WD-40 in a research report on Wednesday, October 8th. DA Davidson cut their price objective on shares of 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 analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, WD-40 currently has a consensus rating of “Moderate Buy” and a consensus target price of $300.00.

WD-40 Stock Performance

WDFC opened at $193.07 on Tuesday. The company has a current ratio of 2.84, a quick ratio of 2.02 and a debt-to-equity ratio of 0.33. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 30.40 and a beta of 0.09. The company’s 50 day moving average is $207.70 and its 200 day moving average is $222.39. WD-40 Company has a 12-month low of $188.43 and a 12-month high of $292.36.

WD-40 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 20th will be paid a dividend of $0.94 per share. The ex-dividend date is Monday, October 20th. This represents a $3.76 dividend on an annualized basis and a yield of 1.9%. WD-40’s dividend payout ratio (DPR) is presently 59.21%.

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.