Oil-Dri Corporation Of America (NYSE:ODC) Hits New 52-Week High – Here’s Why

Shares of Oil-Dri Corporation Of America (NYSE:ODC) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $74.38 and last traded at $74.8550, with a volume of 50484 shares changing hands. The stock had previously closed at $74.38.

Wall Street Analysts Forecast Growth

ODC has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Oil-Dri Corporation Of America in a research report on Friday, March 27th. Wall Street Zen raised shares of Oil-Dri Corporation Of America from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Oil-Dri Corporation Of America presently has an average rating of “Buy”.

Oil-Dri Corporation Of America Stock Up 1.9%

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 has a market cap of $1.09 billion, a PE ratio of 20.36 and a beta of 0.79. The firm has a fifty day moving average of $66.97 and a 200 day moving average of $59.65.

Oil-Dri Corporation Of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, May 8th. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is 22.22%.

Insider Activity at Oil-Dri Corporation Of America

In other news, Director Paul Hindsley sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $63.90, for a total transaction of $383,400.00. Following the completion of the sale, the director owned 11,000 shares in the company, valued at approximately $702,900. The trade was a 35.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the transaction, the director owned 8,930 shares of the company’s stock, valued at approximately $652,425.80. The trade was a 13.47% decrease in their position. The disclosure for this sale is available in the SEC filing. 11.69% of the stock is owned by insiders.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc boosted its stake in Oil-Dri Corporation Of America by 20.1% in 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 in the last quarter. Russell Investments Group Ltd. increased its position in shares of Oil-Dri Corporation Of America by 57.4% during the second 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 in the last quarter. Cardinal Capital Management lifted its holdings in shares of Oil-Dri Corporation Of America by 0.3% in the 4th quarter. Cardinal Capital Management now owns 87,950 shares of the specialty chemicals company’s stock valued at $4,304,000 after purchasing an additional 279 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Oil-Dri Corporation Of America by 4.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,280 shares of the specialty chemicals company’s stock valued at $444,000 after purchasing an additional 284 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Oil-Dri Corporation Of America by 9.4% in the 4th quarter. SG Americas Securities LLC now owns 4,567 shares of the specialty chemicals company’s stock valued at $224,000 after purchasing an additional 391 shares during the period. 49.01% of the stock is currently owned by institutional investors and hedge funds.

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.