Kayne Anderson Rudnick Investment Management LLC Lowers Stake in WD-40 (WDFC)

Kayne Anderson Rudnick Investment Management LLC reduced its position in shares of WD-40 (NASDAQ:WDFC) by 10.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 487,108 shares of the specialty chemicals company’s stock after selling 59,327 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 3.50% of WD-40 worth $64,153,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WDFC. BlackRock Inc. lifted its position in WD-40 by 2.3% in the first quarter. BlackRock Inc. now owns 1,784,147 shares of the specialty chemicals company’s stock worth $234,970,000 after buying an additional 40,530 shares during the last quarter. Neuberger Berman Group LLC lifted its position in WD-40 by 4.3% in the first quarter. Neuberger Berman Group LLC now owns 687,245 shares of the specialty chemicals company’s stock worth $90,510,000 after buying an additional 28,280 shares during the last quarter. Renaissance Technologies LLC lifted its position in WD-40 by 4.4% in the fourth quarter. Renaissance Technologies LLC now owns 614,585 shares of the specialty chemicals company’s stock worth $72,521,000 after buying an additional 25,800 shares during the last quarter. VGI PARTNERS PTY Ltd lifted its position in WD-40 by 28.5% in the fourth quarter. VGI PARTNERS PTY Ltd now owns 357,956 shares of the specialty chemicals company’s stock worth $42,239,000 after buying an additional 79,459 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in WD-40 by 2.7% in the fourth quarter. Wells Fargo & Company MN now owns 204,788 shares of the specialty chemicals company’s stock worth $24,165,000 after buying an additional 5,341 shares during the last quarter. Hedge funds and other institutional investors own 85.09% of the company’s stock.

In other news, Director Daniel E. Pittard purchased 530 shares of the business’s stock in a transaction dated Thursday, May 10th. The shares were purchased at an average price of $132.65 per share, for a total transaction of $70,304.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven A. Brass sold 1,000 shares of the firm’s stock in a transaction on Friday, April 13th. The shares were sold at an average price of $130.83, for a total value of $130,830.00. Following the transaction, the insider now owns 5,211 shares in the company, valued at approximately $681,755.13. The disclosure for this sale can be found here. Company insiders own 3.62% of the company’s stock.

WDFC stock opened at $136.85 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.04 and a current ratio of 3.65. WD-40 has a twelve month low of $102.80 and a twelve month high of $140.55. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 36.79, a price-to-earnings-growth ratio of 3.43 and a beta of 0.54.

WD-40 (NASDAQ:WDFC) last released its earnings results on Thursday, April 5th. The specialty chemicals company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. WD-40 had a return on equity of 39.25% and a net margin of 14.29%. The business had revenue of $101.30 million for the quarter, compared to analyst estimates of $102.49 million. During the same quarter last year, the firm posted $0.87 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. sell-side analysts predict that WD-40 will post 4.09 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 30th. Shareholders of record on Friday, April 20th were paid a $0.54 dividend. The ex-dividend date of this dividend was Thursday, April 19th. This represents a $2.16 dividend on an annualized basis and a yield of 1.58%. WD-40’s payout ratio is 58.06%.

A number of analysts recently issued reports on the company. BidaskClub upgraded WD-40 from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. B. Riley reiterated a “neutral” rating and issued a $135.00 target price (up previously from $125.00) on shares of WD-40 in a research note on Friday, April 6th. Finally, Jefferies Group set a $120.00 target price on WD-40 and gave the stock a “hold” rating in a research note on Friday, April 6th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $128.75.

WD-40 Profile

WD-40 Company engages in the development and sale of maintenance products, and homecare and cleaning products. It offers multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name for various consumer uses; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand name; and bicycle maintenance products under the WD-40 Bike brand name comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products that are designed for avid and recreational cyclists, bike enthusiasts, and mechanics.

Institutional Ownership by Quarter for WD-40 (NASDAQ:WDFC)

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