Oil-Dri Corporation Of America (NYSE:ODC) Stock Price Down 6.1% – Time to Sell?

Oil-Dri Corporation Of America (NYSE:ODC)’s stock price was down 6.1% on Friday . The company traded as low as $90.83 and last traded at $90.6250. 16,564 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 85,426 shares. The stock had previously closed at $96.55.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a research report on Wednesday, July 29th. Wall Street Zen raised Oil-Dri Corporation Of America from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 12th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Price Performance

The company has a quick ratio of 2.40, a current ratio of 3.28 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.33 billion, a P/E ratio of 23.56 and a beta of 0.78. The firm has a 50 day moving average price of $96.01 and a 200 day moving average price of $77.58.

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

Oil-Dri Corporation Of America Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a $0.225 dividend. 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. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.0%. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is currently 21.08%.

Institutional Trading of Oil-Dri Corporation Of America

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its stake in shares of Oil-Dri Corporation Of America by 57.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 502 shares of the specialty chemicals company’s stock valued at $30,000 after buying an additional 183 shares in the last quarter. Raymond James Financial Inc. bought a new position in Oil-Dri Corporation Of America in the 2nd quarter worth $45,000. Fifth Third Bancorp purchased a new stake in Oil-Dri Corporation Of America in the 1st quarter worth $54,000. Legal & General Group Plc increased its stake in 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 buying an additional 178 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Oil-Dri Corporation Of America by 361.7% during the fourth quarter. State of Alaska Department of Revenue now owns 1,879 shares of the specialty chemicals company’s stock valued at $91,000 after acquiring an additional 1,472 shares during the period. 49.01% of the stock is currently owned by 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.