Oil-Dri Corporation Of America (NYSE:ODC) Trading Down 5.1% – Here’s Why

Oil-Dri Corporation Of America (NYSE:ODC) shares were down 5.1% during trading on Wednesday . The company traded as low as $92.19 and last traded at $93.5540. Approximately 38,656 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 70,661 shares. The stock had previously closed at $98.59.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ODC. Weiss Ratings upgraded Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Wall Street Zen lowered Oil-Dri Corporation Of America from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One 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 Trading Down 1.7%

The business has a 50 day simple moving average of $74.69 and a two-hundred day simple moving average of $63.70. 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 cap of $1.40 billion, a price-to-earnings ratio of 24.91 and a beta of 0.81.

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. The company had revenue of $126.33 million for the quarter. Oil-Dri Corporation Of America had a return on equity of 20.90% and a net margin of 11.35%.During the same period in the prior year, the business earned $0.80 EPS.

Oil-Dri Corporation Of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be given a dividend of $0.225 per share. The ex-dividend date is Friday, August 7th. This represents a $0.90 dividend on an annualized basis and a yield of 0.9%. This is an increase from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.21. Oil-Dri Corporation Of America’s payout ratio is presently 22.22%.

Insiders Place Their Bets

In other news, Director Paul Hindsley sold 6,000 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $63.90, for a total transaction of $383,400.00. Following 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ellen-Blair Chube sold 1,390 shares of the business’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $73.06, for a total value of $101,553.40. Following the sale, the director directly owned 8,930 shares in the company, valued at $652,425.80. This trade represents a 13.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 11.69% of the company’s stock.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

Institutional investors and hedge funds have recently bought and sold shares of the business. Tudor Investment Corp ET AL grew its stake in Oil-Dri Corporation Of America by 190.4% during the 3rd quarter. Tudor Investment Corp ET AL now owns 52,935 shares of the specialty chemicals company’s stock valued at $3,231,000 after acquiring an additional 34,706 shares in the last quarter. American Century Companies Inc. increased its position in Oil-Dri Corporation Of America by 9.6% in the 3rd quarter. American Century Companies Inc. now owns 401,152 shares of the specialty chemicals company’s stock worth $24,486,000 after purchasing an additional 35,302 shares during the last quarter. JPMorgan Chase & Co. increased its position in Oil-Dri Corporation Of America by 206.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,921 shares of the specialty chemicals company’s stock worth $2,681,000 after purchasing an additional 29,583 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in Oil-Dri Corporation Of America in the 3rd quarter worth about $483,000. Finally, Teton Advisors LLC acquired a new position in Oil-Dri Corporation Of America in the 3rd quarter worth about $842,000. 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.