Kayne Anderson Rudnick Investment Management LLC Sells 3,124 Shares of WD-40 (NASDAQ:WDFC)

Kayne Anderson Rudnick Investment Management LLC lessened its stake in shares of WD-40 (NASDAQ:WDFC - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 563,630 shares of the specialty chemicals company's stock after selling 3,124 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 4.16% of WD-40 worth $136,782,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of WDFC. Barclays PLC grew its position in WD-40 by 309.7% in the 3rd quarter. Barclays PLC now owns 37,094 shares of the specialty chemicals company's stock worth $9,566,000 after purchasing an additional 28,039 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of WD-40 by 19.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 2,757 shares of the specialty chemicals company's stock valued at $669,000 after acquiring an additional 450 shares in the last quarter. Inspire Investing LLC grew its stake in WD-40 by 3.8% during the 4th quarter. Inspire Investing LLC now owns 1,658 shares of the specialty chemicals company's stock valued at $402,000 after acquiring an additional 61 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of WD-40 by 2.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,120 shares of the specialty chemicals company's stock worth $757,000 after acquiring an additional 86 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in WD-40 by 39.9% in the fourth quarter. Blue Trust Inc. now owns 550 shares of the specialty chemicals company's stock worth $142,000 after buying an additional 157 shares during the last quarter. Institutional investors and hedge funds own 91.52% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson upgraded shares of WD-40 to a "strong-buy" rating in a research note on Monday, April 14th.

WD-40 Price Performance

NASDAQ WDFC traded up $2.96 on Friday, hitting $244.07. 83,640 shares of the company were exchanged, compared to its average volume of 102,557. The firm has a 50 day moving average of $233.12 and a two-hundred day moving average of $243.10. The company has a market cap of $3.31 billion, a P/E ratio of 46.69 and a beta of 0.17. WD-40 has a 1-year low of $208.00 and a 1-year high of $292.36. The company has a current ratio of 2.44, a quick ratio of 1.75 and a debt-to-equity ratio of 0.37.

WD-40 (NASDAQ:WDFC - Get Free Report) last released its earnings results on Tuesday, April 8th. The specialty chemicals company reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.05. The business had revenue of $146.10 million during the quarter, compared to the consensus estimate of $154.40 million. WD-40 had a net margin of 11.78% and a return on equity of 31.68%. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 earnings per share. On average, equities analysts predict that WD-40 will post 5.42 EPS for the current year.

WD-40 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 18th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.54%. The ex-dividend date was Thursday, April 17th. WD-40's payout ratio is presently 59.97%.

Insiders Place Their Bets

In other news, CFO Sara Kathleen Hyzer bought 256 shares of the company's stock in a transaction on Friday, April 11th. The shares were purchased at an average price of $222.83 per share, with a total value of $57,044.48. Following the transaction, the chief financial officer now directly owns 4,072 shares in the company, valued at $907,363.76. This represents a 6.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.75% of the company's stock.

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.