Oil-Dri Corporation Of America (NYSE:ODC) Trading 8.7% Higher – Here’s What Happened

Oil-Dri Corporation Of America (NYSE:ODC) shares traded up 8.7% during mid-day trading on Tuesday . The stock traded as high as $93.76 and last traded at $91.2780. 25,011 shares traded hands during trading, a decline of 64% from the average session volume of 68,804 shares. The stock had previously closed at $83.99.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Oil-Dri Corporation Of America from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Stock Up 14.4%

The stock has a 50 day moving average price of $73.99 and a 200 day moving average price of $63.38. The company has a market cap of $1.39 billion, a P/E ratio of 26.12 and a beta of 0.82. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.40 and a current ratio of 3.45.

Oil-Dri Corporation Of America (NYSE:ODC) last issued its quarterly earnings results on Monday, June 8th. The specialty chemicals company reported $1.00 earnings per share for the quarter. Oil-Dri Corporation Of America had a net margin of 11.01% and a return on equity of 20.18%. The company had revenue of $126.33 million during the quarter. During the same period in the previous year, the company posted $0.80 earnings per share.

Oil-Dri Corporation Of America Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 7th. This is a positive change from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.21. Oil-Dri Corporation Of America’s dividend payout ratio is currently 22.22%.

Insider Transactions at Oil-Dri Corporation Of America

In other Oil-Dri Corporation Of America news, Director Ellen-Blair Chube sold 1,390 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $73.06, for a total value of $101,553.40. Following the completion of the sale, the director directly owned 8,930 shares of the company’s stock, valued at approximately $652,425.80. This represents a 13.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Hindsley sold 6,000 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $63.90, for a total transaction of $383,400.00. Following the completion of the sale, the director directly owned 11,000 shares of the company’s stock, valued at $702,900. The trade was a 35.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 11.69% of the stock is currently owned by corporate insiders.

Institutional Trading of Oil-Dri Corporation Of America

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its stake in Oil-Dri Corporation Of America by 20.8% during the first quarter. Bank of America Corp DE now owns 14,223 shares of the specialty chemicals company’s stock valued at $926,000 after buying an additional 2,445 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in Oil-Dri Corporation Of America during the first quarter valued at about $259,000. Quantinno Capital Management LP lifted its stake in Oil-Dri Corporation Of America by 16.4% during the first quarter. Quantinno Capital Management LP now owns 8,944 shares of the specialty chemicals company’s stock valued at $582,000 after buying an additional 1,259 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Oil-Dri Corporation Of America by 17.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 85,264 shares of the specialty chemicals company’s stock valued at $5,550,000 after buying an additional 12,462 shares in the last quarter. Finally, Valmark Advisers Inc. purchased a new stake in Oil-Dri Corporation Of America during the first quarter valued at about $212,000. 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 specialty materials company that develops, manufactures and markets sorbent and filtration products for industrial, environmental and consumer applications. Its flagship offerings include clay- and diatomaceous earth–based cat litters, calcium silicate absorbents for spill control and cleanup, and purification media designed to remove contaminants from petroleum, chemical and food-processing streams.

Founded in 1941 and headquartered in Chicago, Illinois, the company has evolved from a single-product operation into a diversified provider of mineral- and chemical-based solutions.