Oil-Dri Corporation Of America (NYSE:ODC) Reaches New 1-Year High – Here’s Why

Oil-Dri Corporation Of America (NYSE:ODC) shares hit a new 52-week high on Wednesday . The stock traded as high as $70.22 and last traded at $69.6220, with a volume of 7885 shares trading hands. The stock had previously closed at $68.42.

Analyst Ratings Changes

Several equities analysts recently weighed in on ODC shares. Wall Street Zen lowered shares of Oil-Dri Corporation Of America from a “strong-buy” rating to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oil-Dri Corporation Of America in a research report on Friday, March 27th. One investment 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 market cap of $1.02 billion, a P/E ratio of 19.17 and a beta of 0.79. The company has a quick ratio of 2.40, a current ratio of 3.45 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average price is $64.11 and its 200 day moving average price is $58.52.

Oil-Dri Corporation Of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be given a $0.205 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.2%. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is currently 22.22%.

Insider Activity at Oil-Dri Corporation Of America

In other news, Director Paul Hindsley sold 6,000 shares of Oil-Dri Corporation Of America stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $63.90, for a total value of $383,400.00. Following the transaction, the director owned 11,000 shares of the company’s stock, valued at $702,900. This trade represents a 35.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.69% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. grew its stake in shares of Oil-Dri Corporation Of America by 9.6% in the third quarter. American Century Companies Inc. now owns 401,152 shares of the specialty chemicals company’s stock worth $24,486,000 after acquiring an additional 35,302 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Oil-Dri Corporation Of America by 51.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 88,177 shares of the specialty chemicals company’s stock worth $5,382,000 after acquiring an additional 30,025 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Oil-Dri Corporation Of America in the third quarter worth $483,000. JPMorgan Chase & Co. grew its stake in shares of Oil-Dri Corporation Of America by 206.3% in the third quarter. JPMorgan Chase & Co. now owns 43,921 shares of the specialty chemicals company’s stock worth $2,681,000 after acquiring an additional 29,583 shares during the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in shares of Oil-Dri Corporation Of America in the third quarter worth $657,000. 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.