VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in WD-40 Company $WDFC

Key Points

• Virginia Retirement Systems purchased 7,445 shares of WD-40 Company worth approximately $1.81 million, while institutional investors collectively own 91.52% of the company.
• Analysts maintain a consensus “Buy” rating with an average price target of $305, supported by recent earnings that exceeded estimates and revenue growth of 24.3% year over year.
• WD-40 shares opened at $194.82, down 2.1%, while the company maintains a quarterly dividend of $1.02 per share, equal to a 2.1% yield.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in WD-40 Company (NASDAQ:WDFC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,445 shares of the specialty chemicals company's stock, valued at approximately $1,814,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.06% of WD-40 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Quarry LP increased its holdings in WD-40 by 1,462.5% in the third quarter. Quarry LP now owns 125 shares of the specialty chemicals company's stock valued at $25,000 after purchasing an additional 117 shares during the period. Public Employees Retirement System of Ohio acquired a new position in WD-40 during the 2nd quarter worth about $28,000. EverSource Wealth Advisors LLC grew its position in shares of WD-40 by 207.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 157 shares of the specialty chemicals company's stock valued at $36,000 after buying an additional 106 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in shares of WD-40 by 400.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 215 shares of the specialty chemicals company's stock valued at $42,000 after buying an additional 172 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of WD-40 by 195.4% in the third quarter. Parallel Advisors LLC now owns 257 shares of the specialty chemicals company's stock valued at $51,000 after buying an additional 170 shares during the period. Institutional investors and hedge funds own 91.52% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WDFC shares. Weiss Ratings raised WD-40 from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, September 4th. DA Davidson raised their price target on shares of WD-40 from $270.00 to $305.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Northcoast Research raised shares of WD-40 to a "strong-buy" rating in a research note on Wednesday, June 24th. Jefferies Financial Group reiterated a "hold" rating on shares of WD-40 in a research report on Friday, July 10th. Finally, Zacks Research raised shares of WD-40 from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $305.00.

WD-40 Stock Down 2.1%

WDFC stock opened at $194.82 on Friday. The stock's 50 day simple moving average is $227.92 and its 200 day simple moving average is $221.98. The company has a market cap of $2.61 billion, a P/E ratio of 29.61 and a beta of 0.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 2.65. WD-40 Company has a fifty-two week low of $175.38 and a fifty-two week high of $298.90.

WD-40 (NASDAQ:WDFC - Get Free Report) last released its quarterly earnings data on Thursday, July 9th. The specialty chemicals company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.58 by $0.75. WD-40 had a return on equity of 33.53% and a net margin of 13.23%.The firm had revenue of $195.12 million during the quarter, compared to the consensus estimate of $172.79 million. During the same quarter in the previous year, the company posted $1.54 earnings per share. The company's quarterly revenue was up 24.3% on a year-over-year basis. WD-40 has set its FY 2026 guidance at 6.050-6.350 EPS. On average, research analysts expect that WD-40 Company will post 6.24 earnings per share for the current fiscal year.

WD-40 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, July 17th. This represents a $4.08 annualized dividend and a dividend yield of 2.1%. WD-40's payout ratio is presently 62.01%.

Insider Activity

In related news, insider Patricia Olsem sold 300 shares of the company's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $233.73, for a total transaction of $70,119.00. Following the completion of the sale, the insider owned 4,774 shares in the company, valued at approximately $1,115,827.02. This represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.78% of the stock is currently owned by insiders.

WD-40 Profile

WD-40 Company NASDAQ: WDFC develops and markets maintenance, homecare, and cleaning products for consumers, professional tradespeople, and industrial users. Its best-known product is WD-40 Multi-Use Product, a spray designed to displace moisture, lubricate, protect against corrosion, and loosen stuck parts.

The company also offers specialized products under the WD-40 Specialist brand, including lubricants, degreasers, rust removers, and other maintenance solutions. Its portfolio includes 3-IN-ONE lubricants and other products for household, automotive, industrial, and outdoor applications, as well as bicycle care products sold under the WD-40 Bike brand.

Founded in 1953 as Rocket Chemical Company, WD-40 Company is based in San Diego, California.

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