Kayne Anderson Rudnick Investment Management LLC Has $136.78 Million Position in WD-40 (NASDAQ:WDFC)

Kayne Anderson Rudnick Investment Management LLC cut its position in shares of WD-40 (NASDAQ:WDFC - Free Report) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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.

Several other institutional investors have also made changes to their positions in the company. D.A. Davidson & CO. lifted its holdings in shares of WD-40 by 6.3% in the fourth quarter. D.A. Davidson & CO. now owns 845 shares of the specialty chemicals company's stock valued at $205,000 after purchasing an additional 50 shares in the last quarter. HighTower Advisors LLC increased its stake in WD-40 by 0.9% in the 4th quarter. HighTower Advisors LLC now owns 6,697 shares of the specialty chemicals company's stock valued at $1,625,000 after buying an additional 57 shares during the period. Inspire Investing LLC boosted its stake in shares of 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 buying an additional 61 shares during the period. Truist Financial Corp increased its stake in shares of WD-40 by 2.4% in the fourth quarter. Truist Financial Corp now owns 2,662 shares of the specialty chemicals company's stock worth $646,000 after acquiring an additional 62 shares during the last quarter. Finally, Curbstone Financial Management Corp raised its holdings in shares of WD-40 by 1.2% during the fourth 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 in the last quarter. 91.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at WD-40

In related news, CFO Sara Kathleen Hyzer bought 256 shares of WD-40 stock in a transaction that occurred on 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 completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.75% of the company's stock.

Analysts Set New Price Targets

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

WD-40 Stock Down 0.3 %

WD-40 stock traded down $0.76 during mid-day trading on Wednesday, hitting $224.16. 98,559 shares of the company's stock were exchanged, compared to its average volume of 101,095. WD-40 has a 1-year low of $208.00 and a 1-year high of $292.36. The stock has a 50 day moving average of $234.21 and a two-hundred day moving average of $248.32. The stock has a market cap of $3.04 billion, a P/E ratio of 42.94 and a beta of 0.03. 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 results on Tuesday, April 8th. The specialty chemicals company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.27 by $0.05. The company had revenue of $146.10 million for the quarter, compared to the consensus estimate of $154.40 million. WD-40 had a return on equity of 31.68% and a net margin of 11.78%. During the same quarter last year, the company posted $1.14 earnings per share. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, analysts anticipate that WD-40 will post 5.42 EPS for the current fiscal year.

WD-40 Announces Dividend

The firm 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 dividend of $0.94 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $3.76 annualized dividend and a yield of 1.68%. WD-40's payout ratio is 59.97%.

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.