Oil-Dri Corporation Of America (NYSE:ODC) Shares Gap Down – Here’s What Happened

Oil-Dri Corporation Of America (NYSE:ODC)’s share price gapped down prior to trading on Monday . The stock had previously closed at $52.52, but opened at $50.89. Oil-Dri Corporation Of America shares last traded at $51.2230, with a volume of 1,098 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ODC shares. Weiss Ratings reissued a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a research note on Monday, December 15th. Wall Street Zen cut Oil-Dri Corporation Of America from a “strong-buy” rating to a “hold” rating in a report on Saturday, December 13th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Stock Down 0.5%

The company has a debt-to-equity ratio of 0.15, a current ratio of 3.34 and a quick ratio of 2.23. The firm’s 50-day moving average price is $55.37 and its 200 day moving average price is $58.40. The firm has a market capitalization of $737.82 million, a price-to-earnings ratio of 13.98 and a beta of 0.75.

Oil-Dri Corporation Of America (NYSE:ODC) last posted its earnings results on Monday, December 8th. The specialty chemicals company reported $1.06 earnings per share (EPS) for the quarter. The firm had revenue of $120.49 million for the quarter. Oil-Dri Corporation Of America had a return on equity of 21.06% and a net margin of 11.10%.During the same period in the previous year, the company posted $2.25 EPS.

Oil-Dri Corporation Of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be given a dividend of $0.205 per share. The ex-dividend date is Friday, February 20th. This represents a $0.82 dividend on an annualized basis and a yield of 1.6%. This is a boost from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.18. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is 19.78%.

Insider Activity

In other Oil-Dri Corporation Of America news, VP Laura G. Scheland sold 850 shares of Oil-Dri Corporation Of America stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $60.30, for a total value of $51,255.00. Following the completion of the sale, the vice president directly owned 39,900 shares of the company’s stock, valued at approximately $2,405,970. The trade was a 2.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Walter Wade Robey sold 4,025 shares of Oil-Dri Corporation Of America stock in a transaction on Monday, October 20th. The shares were sold at an average price of $59.18, for a total value of $238,199.50. Following the completion of the sale, the vice president directly owned 25,000 shares of the company’s stock, valued at approximately $1,479,500. This represents a 13.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 11.69% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Gamco Investors INC. ET AL boosted its position in shares of Oil-Dri Corporation Of America by 99.3% in the first quarter. Gamco Investors INC. ET AL now owns 799,112 shares of the specialty chemicals company’s stock worth $36,695,000 after acquiring an additional 398,056 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Oil-Dri Corporation Of America by 119.3% in the 1st quarter. Vanguard Group Inc. now owns 612,195 shares of the specialty chemicals company’s stock valued at $28,112,000 after purchasing an additional 333,053 shares during the last quarter. Needham Investment Management LLC boosted its holdings in shares of Oil-Dri Corporation Of America by 100.5% in the 1st quarter. Needham Investment Management LLC now owns 561,500 shares of the specialty chemicals company’s stock valued at $25,784,000 after purchasing an additional 281,500 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Oil-Dri Corporation Of America by 126.4% during the 1st quarter. American Century Companies Inc. now owns 331,083 shares of the specialty chemicals company’s stock valued at $15,203,000 after buying an additional 184,844 shares during the period. Finally, Gabelli Funds LLC increased its holdings in shares of Oil-Dri Corporation Of America by 99.5% during the 1st quarter. Gabelli Funds LLC now owns 165,200 shares of the specialty chemicals company’s stock worth $7,586,000 after buying an additional 82,400 shares during the last quarter. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

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.