L.M. Kohn & Company Sells 1,775 Shares of WD-40 Company (NASDAQ:WDFC)

L.M. Kohn & Company cut its holdings in shares of WD-40 Company (NASDAQ:WDFC) by 36.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,133 shares of the specialty chemicals company’s stock after selling 1,775 shares during the quarter. L.M. Kohn & Company’s holdings in WD-40 were worth $764,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WDFC. Allspring Global Investments Holdings LLC increased its position in WD-40 by 209.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,672 shares of the specialty chemicals company’s stock valued at $401,000 after purchasing an additional 1,132 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of WD-40 by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 150,557 shares of the specialty chemicals company’s stock valued at $36,537,000 after buying an additional 5,095 shares during the period. Invesco Ltd. raised its stake in WD-40 by 9.5% in the fourth quarter. Invesco Ltd. now owns 73,061 shares of the specialty chemicals company’s stock worth $17,730,000 after buying an additional 6,330 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in WD-40 in the fourth quarter worth about $17,903,000. Finally, Vanguard Group Inc. boosted its position in WD-40 by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 1,627,684 shares of the specialty chemicals company’s stock valued at $395,006,000 after acquiring an additional 16,763 shares in the last quarter. Hedge funds and other institutional investors own 91.52% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CFO Sara Kathleen Hyzer purchased 256 shares of WD-40 stock in a transaction dated Friday, April 11th. The stock was purchased at an average cost of $222.83 per share, for a total transaction of $57,044.48. Following the completion of the acquisition, the chief financial officer now directly owns 4,072 shares of the company’s stock, valued at $907,363.76. The trade was a 6.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is currently owned by company insiders.

WD-40 Stock Performance

Shares of WDFC stock opened at $243.52 on Friday. The company’s fifty day moving average price is $235.47 and its 200-day moving average price is $239.56. The stock has a market cap of $3.30 billion, a PE ratio of 38.84 and a beta of 0.17. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.35. WD-40 Company has a 12 month low of $208.00 and a 12 month high of $292.36.

WD-40 (NASDAQ:WDFC) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $154.40 million. WD-40 had a net margin of 13.99% and a return on equity of 31.55%. WD-40’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the company posted $1.14 EPS. On average, equities analysts expect that WD-40 Company will post 5.42 EPS for the current fiscal year.

WD-40 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 18th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.54%. WD-40’s dividend payout ratio is currently 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.