Neuberger Berman Group LLC Cuts Stake in WD-40 (NASDAQ:WDFC)

Neuberger Berman Group LLC trimmed its stake in shares of WD-40 (NASDAQ:WDFC - Free Report) by 27.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 398,906 shares of the specialty chemicals company's stock after selling 150,288 shares during the period. Neuberger Berman Group LLC owned about 2.94% of WD-40 worth $96,807,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Coldstream Capital Management Inc. raised its holdings in WD-40 by 3.3% during the third quarter. Coldstream Capital Management Inc. now owns 1,243 shares of the specialty chemicals company's stock worth $321,000 after purchasing an additional 40 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of WD-40 by 6.3% during the 4th quarter. D.A. Davidson & CO. now owns 845 shares of the specialty chemicals company's stock worth $205,000 after buying an additional 50 shares during the last quarter. HighTower Advisors LLC grew 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 acquiring 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 valued at $402,000 after acquiring an additional 61 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in WD-40 by 2.4% during the 4th quarter. Truist Financial Corp now owns 2,662 shares of the specialty chemicals company's stock valued at $646,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 91.52% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

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

WD-40 Price Performance

Shares of NASDAQ WDFC traded down $0.67 during trading on Tuesday, reaching $222.57. The company had a trading volume of 26,452 shares, compared to its average volume of 101,141. The company has a current ratio of 2.44, a quick ratio of 1.75 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $3.01 billion, a PE ratio of 42.64 and a beta of 0.03. WD-40 has a twelve month low of $208.00 and a twelve month high of $292.36. The stock has a 50-day moving average price of $235.68 and a two-hundred day moving average price of $249.75.

WD-40 (NASDAQ:WDFC - Get Free Report) last released its earnings results 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. The company had revenue of $146.10 million for the quarter, compared to analyst estimates of $154.40 million. WD-40 had a net margin of 11.78% and a return on equity of 31.68%. The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 EPS. As a group, sell-side analysts predict that WD-40 will post 5.42 earnings per share for the current year.

WD-40 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 18th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, April 17th. WD-40's dividend payout ratio is presently 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.