Oil-Dri Corporation Of America (NYSE:ODC) Releases Earnings Results

Oil-Dri Corporation Of America (NYSE:ODC) issued its earnings results on Monday. The specialty chemicals company reported $1.06 earnings per share for the quarter, Zacks reports. Oil-Dri Corporation Of America had a net margin of 11.10% and a return on equity of 21.47%. The company had revenue of $120.49 million during the quarter. During the same period in the prior year, the company posted $2.25 EPS.

Oil-Dri Corporation Of America Stock Down 12.5%

Shares of NYSE:ODC opened at $46.25 on Wednesday. The business has a 50 day simple moving average of $56.99 and a two-hundred day simple moving average of $58.31. Oil-Dri Corporation Of America has a 1 year low of $36.75 and a 1 year high of $69.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.56 and a quick ratio of 1.82. The firm has a market capitalization of $677.10 million, a PE ratio of 12.71 and a beta of 0.75.

Oil-Dri Corporation Of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 7th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $0.72 annualized dividend and a yield of 1.6%. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is presently 19.46%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ODC shares. Wall Street Zen raised Oil-Dri Corporation Of America from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a report on Monday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Oil-Dri Corporation Of America presently has a consensus rating of “Buy”.

Insiders Place Their Bets

In other news, VP Walter Wade Robey sold 4,025 shares of Oil-Dri Corporation Of America stock in a transaction on Monday, October 20th. The stock was sold at an average price of $59.18, for a total transaction of $238,199.50. Following the completion of the sale, the vice president directly owned 25,000 shares in the company, valued at approximately $1,479,500. This trade represents a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Laura G. Scheland sold 850 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $60.30, for a total transaction of $51,255.00. Following the completion of the transaction, the vice president owned 39,900 shares in the company, valued at approximately $2,405,970. The trade was a 2.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 11.69% of the company’s stock.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Oil-Dri Corporation Of America by 1.4% during the third quarter. Vanguard Group Inc. now owns 641,978 shares of the specialty chemicals company’s stock valued at $39,186,000 after acquiring an additional 8,951 shares in the last quarter. Millennium Management LLC grew its stake in Oil-Dri Corporation Of America by 75.2% in the third quarter. Millennium Management LLC now owns 99,213 shares of the specialty chemicals company’s stock worth $6,056,000 after purchasing an additional 42,572 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Oil-Dri Corporation Of America by 122.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 87,725 shares of the specialty chemicals company’s stock worth $4,028,000 after purchasing an additional 48,309 shares during the period. Two Sigma Investments LP raised its position in Oil-Dri Corporation Of America by 111.8% during the 3rd quarter. Two Sigma Investments LP now owns 85,798 shares of the specialty chemicals company’s stock valued at $5,237,000 after purchasing an additional 45,294 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Oil-Dri Corporation Of America by 206.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,921 shares of the specialty chemicals company’s stock worth $2,681,000 after buying an additional 29,583 shares during the period. 49.01% of the stock is owned by hedge funds and other institutional investors.

About Oil-Dri Corporation Of America

Oil-Dri Corporation of America is a manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets. It operates through the Business to Business Products Group and Retail and Wholesale Products Group segments.