Oil-Dri Corporation Of America (NYSE:ODC) Reaches New 12-Month High – Here’s What Happened

Oil-Dri Corporation Of America (NYSE:ODC)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $106.84 and last traded at $101.3650, with a volume of 3776 shares changing hands. The stock had previously closed at $101.68.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings raised Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Wall Street Zen downgraded shares of Oil-Dri Corporation Of America from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 21st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy”.

Oil-Dri Corporation Of America Price Performance

The business’s fifty day moving average price is $82.24 and its 200-day moving average price is $67.87. The company has a market capitalization of $1.46 billion, a P/E ratio of 25.89 and a beta of 0.82. The company has a current ratio of 3.28, a quick ratio of 2.40 and a debt-to-equity ratio of 0.14.

Oil-Dri Corporation Of America (NYSE:ODC) last released its earnings results on Monday, June 8th. The specialty chemicals company reported $1.00 EPS for the quarter. Oil-Dri Corporation Of America had a return on equity of 20.53% and a net margin of 11.35%.The business had revenue of $126.33 million for the quarter. During the same period in the prior year, the company earned $0.80 EPS.

Oil-Dri Corporation Of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders 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 dividend yield of 0.9%. The ex-dividend date is Friday, August 7th. This is an increase from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.20. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is currently 21.08%.

Insider Activity at Oil-Dri Corporation Of America

In other news, Director Ellen-Blair Chube sold 1,390 shares of the stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $73.06, for a total transaction of $101,553.40. Following the transaction, the director directly owned 8,930 shares in the company, valued at approximately $652,425.80. This represents a 13.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.69% of the company’s stock.

Institutional Trading of Oil-Dri Corporation Of America

Several hedge funds and other institutional investors have recently bought and sold shares of ODC. Russell Investments Group Ltd. grew its position in Oil-Dri Corporation Of America by 57.4% during the second quarter. Russell Investments Group Ltd. now owns 502 shares of the specialty chemicals company’s stock valued at $30,000 after acquiring an additional 183 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Oil-Dri Corporation Of America in the 2nd quarter worth approximately $45,000. Fifth Third Bancorp bought a new stake in shares of Oil-Dri Corporation Of America in the 1st quarter worth approximately $54,000. Legal & General Group Plc lifted its holdings in shares of Oil-Dri Corporation Of America by 20.1% in the 2nd quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company’s stock worth $63,000 after acquiring an additional 178 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co purchased a new stake in shares of Oil-Dri Corporation Of America in the 3rd quarter valued at $96,000. Hedge funds and other institutional investors own 49.01% of the company’s stock.

Oil-Dri Corporation Of America Company Profile

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.