Lazard Asset Management LLC Reduces Holdings in WD-40 (NASDAQ:WDFC)

Lazard Asset Management LLC cut its holdings in shares of WD-40 (NASDAQ:WDFC - Free Report) by 89.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 692 shares of the specialty chemicals company's stock after selling 5,659 shares during the quarter. Lazard Asset Management LLC's holdings in WD-40 were worth $167,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in WD-40 by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 1,627,684 shares of the specialty chemicals company's stock valued at $395,006,000 after purchasing an additional 16,763 shares during the last quarter. Geode Capital Management LLC boosted its holdings in WD-40 by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 385,779 shares of the specialty chemicals company's stock valued at $93,638,000 after purchasing an additional 7,664 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in WD-40 by 1.0% in the 4th quarter. Renaissance Technologies LLC now owns 227,661 shares of the specialty chemicals company's stock valued at $55,249,000 after purchasing an additional 2,300 shares during the last quarter. Norges Bank acquired a new position in WD-40 in the 4th quarter valued at about $54,571,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in WD-40 by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 150,557 shares of the specialty chemicals company's stock valued at $36,537,000 after purchasing an additional 5,095 shares during the last quarter. 91.52% of the stock is currently owned by institutional investors and hedge funds.

WD-40 Trading Down 1.5%

Shares of WDFC stock traded down $3.73 during trading hours on Wednesday, hitting $240.18. The company had a trading volume of 36,607 shares, compared to its average volume of 101,202. The company's fifty day moving average is $232.85 and its 200 day moving average is $243.44. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.44 and a quick ratio of 1.75. WD-40 has a fifty-two week low of $208.00 and a fifty-two week high of $292.36. The stock has a market capitalization of $3.25 billion, a PE ratio of 46.01 and a beta of 0.17.

WD-40 (NASDAQ:WDFC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 8th. The specialty chemicals company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.27 by $0.05. WD-40 had a net margin of 11.78% and a return on equity of 31.68%. The firm had revenue of $146.10 million for the quarter, compared to analyst estimates of $154.40 million. During the same period in the prior year, the business posted $1.14 EPS. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. Research analysts expect that WD-40 will post 5.42 earnings per share for the current fiscal year.

WD-40 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 18th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Thursday, April 17th. WD-40's payout ratio is 59.97%.

Analysts Set New Price Targets

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

Insider Activity

In related news, CFO Sara Kathleen Hyzer bought 256 shares of the stock in a transaction dated Friday, April 11th. The stock was acquired at an average price of $222.83 per share, for a total transaction of $57,044.48. Following the acquisition, the chief financial officer now owns 4,072 shares in the company, valued at approximately $907,363.76. This represents a 6.71% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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.