Oil-Dri Corporation Of America $ODC Shares Acquired by Needham Investment Management LLC

Needham Investment Management LLC raised its position in Oil-Dri Corporation Of America (NYSE:ODC) by 10.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 635,000 shares of the specialty chemicals company’s stock after buying an additional 61,500 shares during the quarter. Oil-Dri Corporation Of America comprises about 2.0% of Needham Investment Management LLC’s holdings, making the stock its 11th largest position. Needham Investment Management LLC owned approximately 4.36% of Oil-Dri Corporation Of America worth $31,077,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Tudor Investment Corp ET AL increased its stake in Oil-Dri Corporation Of America by 190.4% in 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 buying an additional 34,706 shares during the period. American Century Companies Inc. increased its stake 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 valued at $24,486,000 after buying an additional 35,302 shares during the period. JPMorgan Chase & Co. increased its stake 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 valued at $2,681,000 after buying an additional 29,583 shares during the period. Teton Advisors LLC acquired a new position in Oil-Dri Corporation Of America in the 3rd quarter valued at $842,000. Finally, Diamond Hill Capital Management Inc. increased its stake in Oil-Dri Corporation Of America by 12.9% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 141,178 shares of the specialty chemicals company’s stock valued at $6,909,000 after buying an additional 16,124 shares during the period. 49.01% of the stock is owned by institutional investors and hedge funds.

Oil-Dri Corporation Of America Stock Performance

Shares of ODC opened at $93.72 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.40 and a current ratio of 3.28. Oil-Dri Corporation Of America has a 1 year low of $45.61 and a 1 year high of $99.03. The stock has a market capitalization of $1.36 billion, a P/E ratio of 24.09 and a beta of 0.82. The company’s fifty day moving average is $77.03 and its two-hundred day moving average is $64.83.

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

Oil-Dri Corporation Of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be paid a dividend of $0.225 per share. This is a boost from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, August 7th. 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 is currently 21.08%.

Insider Buying and Selling at Oil-Dri Corporation Of America

In other news, Director Ellen-Blair Chube sold 1,390 shares of the company’s 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 transaction, the director directly owned 8,930 shares of the company’s stock, valued at $652,425.80. This represents a 13.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.69% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ODC. Wall Street Zen raised shares of Oil-Dri Corporation Of America from a “hold” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings raised shares of Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.

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.