Oil-Dri Corporation Of America (NYSE:ODC) Stock Price Down 4.6% – Should You Sell?

Oil-Dri Corporation Of America (NYSE:ODC)’s share price fell 4.6% during mid-day trading on Wednesday . The stock traded as low as $71.79 and last traded at $70.4570. 39,659 shares were traded during mid-day trading, a decline of 39% from the average session volume of 64,690 shares. The stock had previously closed at $73.87.

Analysts Set New Price Targets

Several research firms have issued reports on ODC. Weiss Ratings upgraded shares of Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Wall Street Zen lowered shares of Oil-Dri Corporation Of America from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Oil-Dri Corporation Of America currently has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Stock Performance

The company has a current ratio of 3.45, a quick ratio of 2.40 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.06 billion, a PE ratio of 19.86 and a beta of 0.82. The firm’s 50-day simple moving average is $69.62 and its two-hundred day simple moving average is $61.19.

Oil-Dri Corporation Of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 8th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, May 8th. Oil-Dri Corporation Of America’s payout ratio is presently 22.22%.

Insiders Place Their Bets

In other Oil-Dri Corporation Of America news, Director Paul Hindsley sold 6,000 shares of Oil-Dri Corporation Of America stock in a transaction on 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 owned 11,000 shares of the company’s stock, valued at $702,900. This trade represents a 35.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ellen-Blair Chube sold 1,390 shares of Oil-Dri Corporation Of America stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $73.06, for a total transaction of $101,553.40. Following the sale, the director directly owned 8,930 shares of the company’s stock, valued at $652,425.80. This trade represents a 13.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 11.69% of the company’s stock.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

A number of institutional investors have recently modified their holdings of the stock. Legal & General Group Plc boosted its stake in shares of Oil-Dri Corporation Of America by 20.1% during the 2nd quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company’s stock valued at $63,000 after buying an additional 178 shares during the period. Russell Investments Group Ltd. boosted 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 during the period. Cardinal Capital Management boosted its stake in shares of Oil-Dri Corporation Of America by 0.3% during the 4th quarter. Cardinal Capital Management now owns 87,950 shares of the specialty chemicals company’s stock valued at $4,304,000 after buying an additional 279 shares during the period. Franklin Resources Inc. boosted its stake in shares of Oil-Dri Corporation Of America by 4.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,280 shares of the specialty chemicals company’s stock valued at $444,000 after buying an additional 284 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of Oil-Dri Corporation Of America by 9.4% during the 4th quarter. SG Americas Securities LLC now owns 4,567 shares of the specialty chemicals company’s stock valued at $224,000 after buying an additional 391 shares during the period. Institutional investors and hedge funds 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.