Heartland Advisors Inc. Cuts Holdings in Oil-Dri Co. of America (ODC)

Heartland Advisors Inc. lowered its position in Oil-Dri Co. of America (NYSE:ODC) by 15.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,851 shares of the specialty chemicals company’s stock after selling 15,149 shares during the quarter. Heartland Advisors Inc. owned approximately 1.16% of Oil-Dri Co. of America worth $3,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ramsey Quantitative Systems purchased a new stake in Oil-Dri Co. of America in the fourth quarter worth approximately $116,000. Stone Ridge Asset Management LLC purchased a new stake in Oil-Dri Co. of America in the fourth quarter worth approximately $289,000. Kennedy Capital Management Inc. purchased a new stake in Oil-Dri Co. of America in the fourth quarter worth approximately $362,000. Deutsche Bank AG boosted its stake in Oil-Dri Co. of America by 77.6% in the fourth quarter. Deutsche Bank AG now owns 12,323 shares of the specialty chemicals company’s stock worth $509,000 after buying an additional 5,383 shares in the last quarter. Finally, Burney Co. purchased a new stake in Oil-Dri Co. of America in the first quarter worth approximately $778,000. 53.94% of the stock is owned by institutional investors and hedge funds.

Separately, TheStreet lowered Oil-Dri Co. of America from a “b” rating to a “c+” rating in a research note on Tuesday, March 27th.

Shares of ODC opened at $38.90 on Monday. The company has a market capitalization of $284.75 million, a price-to-earnings ratio of 24.78 and a beta of 0.99. The company has a quick ratio of 2.15, a current ratio of 2.82 and a debt-to-equity ratio of 0.05. Oil-Dri Co. of America has a 1 year low of $34.30 and a 1 year high of $50.82.

Oil-Dri Co. of America (NYSE:ODC) last issued its quarterly earnings data on Friday, March 9th. The specialty chemicals company reported $0.54 earnings per share (EPS) for the quarter. The firm had revenue of $68.89 million during the quarter. Oil-Dri Co. of America had a net margin of 2.44% and a return on equity of 9.20%.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 18th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Thursday, May 17th.

Oil-Dri Co. of America declared that its Board of Directors has initiated a share buyback plan on Wednesday, March 21st that permits the company to buyback 300,000 shares. This buyback authorization permits the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

In other news, Director Allan H. Selig acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The stock was purchased at an average price of $37.10 per share, for a total transaction of $37,100.00. Following the completion of the acquisition, the director now owns 33,000 shares in the company, valued at $1,224,300. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.98% of the stock is currently owned by insiders.

Oil-Dri Co. of America Profile

Oil-Dri Corporation of America develops, manufactures, and markets sorbent products in the United States and internationally. It provides agricultural and horticultural products, including functional granules and powders for crop protection chemical carriers, drying agents, and growing media under the Agsorb, Verge, Flo-Fre, and Terra-Green brand names.

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Institutional Ownership by Quarter for Oil-Dri Co. of America (NYSE:ODC)

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