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

Oil-Dri Corporation Of America (NYSE:ODC) released its quarterly earnings data on Thursday. The specialty chemicals company reported $1.00 EPS for the quarter, FiscalAI reports. 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 $129.29 million during the quarter.

Oil-Dri Corporation Of America Trading Down 4.0%

Shares of Oil-Dri Corporation Of America stock traded down $3.50 during trading on Thursday, hitting $84.31. 124,501 shares of the company were exchanged, compared to its average volume of 94,433. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.28 and a quick ratio of 2.40. The firm has a market capitalization of $1.22 billion, a P/E ratio of 21.67 and a beta of 0.76. The firm’s fifty day moving average price is $90.51 and its 200 day moving average price is $85.80. Oil-Dri Corporation Of America has a 1-year low of $45.61 and a 1-year high of $107.00.

Oil-Dri Corporation Of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be issued a dividend of $0.2250 per share. The ex-dividend date is Friday, November 6th. This represents a $0.90 dividend on an annualized basis and a yield of 1.1%. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is 23.14%.

Analyst Ratings Changes

ODC has been the subject of several recent analyst reports. Wall Street Zen lowered Oil-Dri Corporation Of America from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Oil-Dri Corporation Of America has a consensus rating of “Buy”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC acquired a new stake in Oil-Dri Corporation Of America in the 2nd quarter valued at approximately $244,000. Arizona State Retirement System acquired a new position in Oil-Dri Corporation Of America during the second quarter worth $246,000. HighTower Advisors LLC lifted its position in Oil-Dri Corporation Of America by 5.0% during the 2nd quarter. HighTower Advisors LLC now owns 3,847 shares of the specialty chemicals company’s stock worth $393,000 after buying an additional 184 shares in the last quarter. Susquehanna International Group LLP grew its holdings in shares of Oil-Dri Corporation Of America by 69.5% in the 2nd quarter. Susquehanna International Group LLP now owns 6,550 shares of the specialty chemicals company’s stock valued at $669,000 after acquiring an additional 2,686 shares in the last quarter. Finally, Sheets Smith Wealth Management grew its stake in Oil-Dri Corporation Of America by 2.2% in the second quarter. Sheets Smith Wealth Management now owns 8,911 shares of the specialty chemicals company’s stock valued at $911,000 after purchasing an additional 195 shares in the last quarter. 49.01% of the stock is currently owned by institutional investors.

About Oil-Dri Corporation Of America

Oil-Dri Corporation of America develops, manufactures and markets mineral-based products designed to absorb, filter and control liquids and odors. The company serves consumer, industrial, agricultural and specialty markets, using products such as fuller’s earth and other absorbent minerals in a range of applications.

Its consumer products include cat litter and related animal-care products sold under brands such as Cat’s Pride and Jonny Cat. Oil-Dri also supplies absorbent products for industrial and commercial uses, including spill cleanup, oil and grease absorption, moisture control, filtration, sports-field maintenance and other specialized applications.

Founded in 1941, Oil-Dri is headquartered in Chicago, Illinois.