Reik & CO. LLC Reduces Position in WD-40 (NASDAQ:WDFC)

Reik & CO. LLC cut its holdings in WD-40 (NASDAQ:WDFC - Free Report) by 29.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,800 shares of the specialty chemicals company's stock after selling 4,500 shares during the period. WD-40 makes up 0.7% of Reik & CO. LLC's portfolio, making the stock its 17th largest position. Reik & CO. LLC owned 0.08% of WD-40 worth $2,582,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Sequoia Financial Advisors LLC bought a new stake in WD-40 in the fourth quarter worth $510,000. Stratos Wealth Partners LTD. bought a new position in shares of WD-40 during the fourth quarter valued at about $214,000. Allworth Financial LP raised its stake in shares of WD-40 by 122.3% during the fourth quarter. Allworth Financial LP now owns 738 shares of the specialty chemicals company's stock valued at $176,000 after acquiring an additional 406 shares during the last quarter. Trust Point Inc. bought a new position in shares of WD-40 during the fourth quarter valued at about $311,000. Finally, Pacer Advisors Inc. bought a new position in shares of WD-40 during the fourth quarter valued at about $56,000. 91.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson reaffirmed a "buy" rating and set a $313.00 price objective on shares of WD-40 in a research note on Tuesday, March 5th.

WD-40 Trading Down 1.5 %

Shares of NASDAQ:WDFC traded down $3.92 during midday trading on Tuesday, hitting $255.11. 341,648 shares of the stock traded hands, compared to its average volume of 132,383. The stock has a market capitalization of $3.46 billion, a PE ratio of 50.22 and a beta of -0.06. The business's 50 day moving average is $258.21 and its two-hundred day moving average is $240.31. The company has a quick ratio of 1.58, a current ratio of 2.40 and a debt-to-equity ratio of 0.40. WD-40 has a one year low of $163.82 and a one year high of $278.78.

WD-40 (NASDAQ:WDFC - Get Free Report) last released its quarterly earnings results on Tuesday, January 9th. The specialty chemicals company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.28. WD-40 had a net margin of 12.57% and a return on equity of 33.51%. The company had revenue of $140.40 million during the quarter, compared to the consensus estimate of $134.40 million. During the same period in the prior year, the firm earned $1.02 earnings per share. WD-40's revenue was up 12.4% on a year-over-year basis. As a group, research analysts forecast that WD-40 will post 5.13 earnings per share for the current year.

WD-40 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 19th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, April 18th. WD-40's payout ratio is currently 69.29%.

Insider Buying and Selling

In related news, VP Jeffrey G. Lindeman purchased 182 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average cost of $272.42 per share, with a total value of $49,580.44. Following the completion of the purchase, the vice president now directly owns 3,073 shares in the company, valued at $837,146.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.65% of the stock is owned by insiders.

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.