Oil-Dri Corporation Of America (NYSE:ODC) Sets New 1-Year High – Here’s What Happened

Shares of Oil-Dri Corporation Of America (NYSE:ODC) reached a new 52-week high on Tuesday . The stock traded as high as $106.84 and last traded at $101.3650, with a volume of 3776 shares traded. The stock had previously closed at $101.68.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wall Street Zen lowered shares of Oil-Dri Corporation Of America from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 21st. Weiss Ratings upgraded shares of Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Stock Down 0.9%

The stock has a market cap of $1.47 billion, a PE ratio of 26.03 and a beta of 0.81. The business has a 50 day moving average of $83.39 and a 200-day moving average of $68.62. The company has a current ratio of 3.28, a quick ratio of 2.40 and a debt-to-equity ratio of 0.14.

Oil-Dri Corporation Of America (NYSE:ODC) last posted its quarterly earnings data 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 during the quarter. Oil-Dri Corporation Of America had a return on equity of 20.53% and a net margin of 11.35%.During the same period in the previous year, the company posted $0.80 earnings per share.

Oil-Dri Corporation Of America Increases Dividend

The firm also recently disclosed 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. This represents a $0.90 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 7th. This is an increase from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.20. Oil-Dri Corporation Of America’s payout ratio is 23.14%.

Insider Buying and Selling

In other Oil-Dri Corporation Of America news, Director Ellen-Blair Chube sold 1,390 shares of Oil-Dri Corporation Of America stock in a transaction 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 transaction, the director directly owned 8,930 shares in the company, valued at approximately $652,425.80. The trade was a 13.47% 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. Corporate insiders own 11.69% of the company’s stock.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in Oil-Dri Corporation Of America by 20.8% in the 1st quarter. Bank of America Corp DE now owns 14,223 shares of the specialty chemicals company’s stock valued at $926,000 after acquiring an additional 2,445 shares during the period. Janus Henderson Group PLC acquired a new stake in Oil-Dri Corporation Of America during the 1st quarter worth approximately $259,000. Quantinno Capital Management LP grew its stake in shares of Oil-Dri Corporation Of America by 16.4% in the 1st quarter. Quantinno Capital Management LP now owns 8,944 shares of the specialty chemicals company’s stock valued at $582,000 after purchasing an additional 1,259 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Oil-Dri Corporation Of America by 17.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 85,264 shares of the specialty chemicals company’s stock valued at $5,550,000 after purchasing an additional 12,462 shares during the last quarter. Finally, Valmark Advisers Inc. acquired a new stake in shares of Oil-Dri Corporation Of America during the first quarter worth $212,000. Hedge funds and other institutional investors 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.