PNC Financial Services Group Inc. Has $665,000 Stock Holdings in WD-40 (NASDAQ:WDFC)

PNC Financial Services Group Inc. lessened its stake in shares of WD-40 (NASDAQ:WDFC) by 8.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,740 shares of the specialty chemicals company’s stock after selling 258 shares during the quarter. PNC Financial Services Group Inc.’s holdings in WD-40 were worth $665,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Coldstream Capital Management Inc. raised its stake in WD-40 by 3.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,243 shares of the specialty chemicals company’s stock worth $321,000 after purchasing an additional 40 shares in the last quarter. D.A. Davidson & CO. raised its stake in WD-40 by 6.3% in the 4th quarter. D.A. Davidson & CO. now owns 845 shares of the specialty chemicals company’s stock worth $205,000 after purchasing an additional 50 shares in the last quarter. Inspire Investing LLC raised its stake in WD-40 by 3.8% in the 4th quarter. Inspire Investing LLC now owns 1,658 shares of the specialty chemicals company’s stock worth $402,000 after purchasing an additional 61 shares in the last quarter. Truist Financial Corp raised its stake in WD-40 by 2.4% in the 4th quarter. Truist Financial Corp now owns 2,662 shares of the specialty chemicals company’s stock worth $646,000 after purchasing an additional 62 shares in the last quarter. Finally, Curbstone Financial Management Corp raised its stake in WD-40 by 1.2% in the 4th quarter. Curbstone Financial Management Corp now owns 5,696 shares of the specialty chemicals company’s stock worth $1,382,000 after purchasing an additional 70 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 reiterated a “buy” rating and issued a $322.00 price objective on shares of WD-40 in a research note on Monday, January 27th.

WD-40 Price Performance

WDFC stock opened at $244.25 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 2.44 and a debt-to-equity ratio of 0.37. WD-40 has a 12 month low of $211.03 and a 12 month high of $292.36. The firm has a market cap of $3.31 billion, a P/E ratio of 46.79 and a beta of -0.10. The company’s 50-day moving average price is $235.86 and its two-hundred day moving average price is $253.35.

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

WD-40 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 18th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.54%. WD-40’s dividend payout ratio is currently 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.