Oil-Dri Corporation Of America (NYSE:ODC) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Oil-Dri Corporation Of America (NYSE:ODC) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $78.76 and traded as high as $90.42. Oil-Dri Corporation Of America shares last traded at $90.2220, with a volume of 85,320 shares.

Wall Street Analysts Forecast Growth

ODC has been the topic of several research analyst reports. Wall Street Zen lowered Oil-Dri Corporation Of America from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reiterated a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Oil-Dri Corporation Of America Trading Up 2.7%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.40 and a current ratio of 3.28. The business’s 50-day moving average is $97.14 and its two-hundred day moving average is $78.76. The stock has a market capitalization of $1.31 billion, a PE ratio of 23.19 and a beta of 0.78.

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. 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 period last year, the company earned $0.80 earnings per share.

Oil-Dri Corporation Of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders 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 is an increase from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.20. This represents a $0.90 dividend on an annualized basis and a yield of 1.0%. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is presently 23.14%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ODC. Russell Investments Group Ltd. raised its position in shares of Oil-Dri Corporation Of America by 57.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 502 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 183 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Oil-Dri Corporation Of America during the second quarter worth $45,000. Fifth Third Bancorp acquired a new position in shares of Oil-Dri Corporation Of America in the first quarter worth $54,000. Trust Co. of Vermont purchased a new stake in shares of Oil-Dri Corporation Of America in the second quarter valued at $61,000. Finally, Legal & General Group Plc boosted its stake in shares of Oil-Dri Corporation Of America by 20.1% during the second quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company’s stock valued at $63,000 after acquiring an additional 178 shares during the last quarter. 49.01% of the stock is 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.