Oil-Dri Corporation Of America (NYSE:ODC) Issues Quarterly Earnings Results

Oil-Dri Corporation Of America (NYSE:ODC) issued its quarterly earnings results on Monday. The specialty chemicals company reported $1.00 earnings per share for the quarter, FiscalAI reports. The business had revenue of $126.33 million for the quarter. Oil-Dri Corporation Of America had a net margin of 11.01% and a return on equity of 20.18%.

Oil-Dri Corporation Of America Stock Up 0.3%

Shares of ODC stock traded up $0.22 during mid-day trading on Monday, hitting $84.25. 144,601 shares of the stock traded hands, compared to its average volume of 68,471. Oil-Dri Corporation Of America has a 52-week low of $45.61 and a 52-week high of $86.50. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.45 and a quick ratio of 2.40. The stock has a market cap of $1.22 billion, a P/E ratio of 22.83 and a beta of 0.81. The stock’s fifty day moving average is $73.56 and its two-hundred day moving average is $63.18.

Oil-Dri Corporation Of America Increases Dividend

The company also recently declared 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 of this dividend is Friday, August 7th. This is a positive change from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.21. This represents a $0.90 annualized dividend and a dividend yield of 1.1%. Oil-Dri Corporation Of America’s payout ratio is currently 24.39%.

Insider Buying and Selling

In related news, Director Ellen-Blair Chube sold 1,390 shares of Oil-Dri Corporation Of America stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $73.06, for a total value of $101,553.40. Following the completion of the sale, the director directly owned 8,930 shares in the company, valued at $652,425.80. This trade represents a 13.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Hindsley sold 6,000 shares of Oil-Dri Corporation Of America stock in a transaction that occurred on Friday, March 13th. The stock was 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 of the company’s stock, valued at $702,900. This trade represents a 35.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 11.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc raised its position in Oil-Dri Corporation Of America by 20.1% during the 2nd quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company’s stock worth $63,000 after buying an additional 178 shares during the last quarter. Russell Investments Group Ltd. raised its position in 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 buying an additional 183 shares during the last quarter. Cardinal Capital Management raised its position in Oil-Dri Corporation Of America by 0.3% during the 4th quarter. Cardinal Capital Management now owns 87,950 shares of the specialty chemicals company’s stock worth $4,304,000 after buying an additional 279 shares during the last quarter. Franklin Resources Inc. raised its position in Oil-Dri Corporation Of America by 4.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,280 shares of the specialty chemicals company’s stock worth $444,000 after buying an additional 284 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Oil-Dri Corporation Of America by 9.4% during the 4th quarter. SG Americas Securities LLC now owns 4,567 shares of the specialty chemicals company’s stock worth $224,000 after purchasing an additional 391 shares during the period. Institutional investors and hedge funds own 49.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ODC. Weiss Ratings raised Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Wall Street Zen lowered shares of Oil-Dri Corporation Of America from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Oil-Dri Corporation Of America presently has a consensus rating of “Buy”.

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.