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

Kayne Anderson Rudnick Investment Management LLC reduced its stake in WD-40 (NASDAQ:WDFC - Free Report) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 563,630 shares of the specialty chemicals company's stock after selling 3,124 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 4.16% of WD-40 worth $136,782,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WDFC. D.A. Davidson & CO. increased 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 acquiring an additional 50 shares during the last quarter. HighTower Advisors LLC lifted its position in WD-40 by 0.9% during the fourth quarter. HighTower Advisors LLC now owns 6,697 shares of the specialty chemicals company's stock valued at $1,625,000 after purchasing an additional 57 shares during the last quarter. Inspire Investing LLC grew 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 buying an additional 61 shares in the last quarter. Truist Financial Corp increased its holdings in shares of 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 buying an additional 62 shares during the last quarter. Finally, Curbstone Financial Management Corp lifted its holdings in shares of WD-40 by 1.2% during the 4th quarter. Curbstone Financial Management Corp now owns 5,696 shares of the specialty chemicals company's stock worth $1,382,000 after acquiring an additional 70 shares during the last quarter. 91.52% of the stock is currently owned by institutional investors.

Insider Activity at WD-40

In other news, CFO Sara Kathleen Hyzer acquired 256 shares of the firm's stock in a transaction on Friday, April 11th. The shares were purchased at an average price of $222.83 per share, for a total transaction of $57,044.48. Following the completion of the transaction, the chief financial officer now owns 4,072 shares of the company's stock, valued at $907,363.76. The trade was a 6.71 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

WD-40 Price Performance

Shares of WDFC stock traded down $2.65 during trading hours on Friday, hitting $221.96. 31,911 shares of the company's stock were exchanged, compared to its average volume of 100,806. WD-40 has a 12-month low of $208.00 and a 12-month high of $292.36. The company has a market capitalization of $3.01 billion, a PE ratio of 42.53 and a beta of 0.03. The business's 50 day simple moving average is $233.96 and its 200-day simple moving average is $247.95. 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 announced its quarterly earnings data on Tuesday, April 8th. The specialty chemicals company reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.05. WD-40 had a return on equity of 31.68% and a net margin of 11.78%. The firm had revenue of $146.10 million for the quarter, compared to analysts' expectations of $154.40 million. During the same period last year, the firm earned $1.14 earnings per share. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that WD-40 will post 5.42 earnings per share for the current year.

WD-40 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 18th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Thursday, April 17th. WD-40's payout ratio is 59.97%.

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.