Kayne Anderson Rudnick Investment Management LLC Sells 15,843 Shares of WD-40 (NASDAQ:WDFC)

Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in WD-40 (NASDAQ:WDFC) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 579,450 shares of the specialty chemicals company’s stock after selling 15,843 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 4.28% of WD-40 worth $127,270,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in shares of WD-40 in the fourth quarter worth $60,000. Teacher Retirement System of Texas lifted its stake in WD-40 by 199.5% in the 4th quarter. Teacher Retirement System of Texas now owns 3,142 shares of the specialty chemicals company’s stock worth $751,000 after purchasing an additional 2,093 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of WD-40 by 33.8% during the 4th quarter. Quadrant Capital Group LLC now owns 515 shares of the specialty chemicals company’s stock valued at $123,000 after purchasing an additional 130 shares during the last quarter. Norges Bank bought a new position in shares of WD-40 during the 4th quarter valued at about $19,697,000. Finally, Coldstream Capital Management Inc. purchased a new position in shares of WD-40 during the fourth quarter valued at about $293,000. 91.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, DA Davidson dropped their price target on WD-40 from $313.00 to $303.00 and set a “buy” rating for the company in a research note on Thursday, July 11th.

WD-40 Trading Down 1.8 %

WDFC stock opened at $255.91 on Friday. The firm has a market cap of $3.47 billion, a PE ratio of 50.28 and a beta of -0.08. The firm has a fifty day moving average price of $255.72 and a 200 day moving average price of $241.67. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.56 and a current ratio of 2.27. WD-40 has a fifty-two week low of $194.09 and a fifty-two week high of $278.78.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings data on Wednesday, July 10th. The specialty chemicals company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. The business had revenue of $155.05 million during the quarter, compared to analysts’ expectations of $145.80 million. WD-40 had a net margin of 12.07% and a return on equity of 32.43%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $1.38 EPS. Sell-side analysts anticipate that WD-40 will post 5.22 earnings per share for the current fiscal year.

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.