Bard Associates Inc. Takes $10.07 Million Position in Oil-Dri Corporation Of America $ODC

Bard Associates Inc. acquired a new stake in shares of Oil-Dri Corporation Of America (NYSE:ODC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 98,537 shares of the specialty chemicals company’s stock, valued at approximately $10,071,000. Oil-Dri Corporation Of America accounts for approximately 2.2% of Bard Associates Inc.’s portfolio, making the stock its 10th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Oil-Dri Corporation Of America in the 2nd quarter worth $84,762,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Oil-Dri Corporation Of America in the second quarter worth about $11,267,000. Bank of New York Mellon Corp purchased a new stake in shares of Oil-Dri Corporation Of America during the second quarter worth about $9,575,000. Needham Investment Management LLC raised its stake in Oil-Dri Corporation Of America by 10.7% during the 4th quarter. Needham Investment Management LLC now owns 635,000 shares of the specialty chemicals company’s stock valued at $31,077,000 after purchasing an additional 61,500 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Oil-Dri Corporation Of America by 122.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 87,725 shares of the specialty chemicals company’s stock worth $4,028,000 after purchasing an additional 48,309 shares in the last quarter. 49.01% of the stock is owned by hedge funds and other institutional investors.

Oil-Dri Corporation Of America Stock Down 2.8%

Shares of Oil-Dri Corporation Of America stock opened at $89.66 on Friday. Oil-Dri Corporation Of America has a 52-week low of $45.61 and a 52-week high of $107.00. The firm’s 50 day moving average price is $96.92 and its 200-day moving average price is $79.91. 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 company has a market cap of $1.30 billion, a P/E ratio of 23.05 and a beta of 0.78.

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

Oil-Dri Corporation Of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, August 7th. Oil-Dri Corporation Of America’s dividend payout ratio is presently 23.14%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ODC. Weiss Ratings reiterated a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a research note on Wednesday, July 29th. Wall Street Zen downgraded Oil-Dri Corporation Of America from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Oil-Dri Corporation Of America presently has a consensus rating of “Buy”.

Oil-Dri Corporation Of America 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.