News stories about Oil-Dri Co. Of America (NYSE:ODC) have trended somewhat positive this week, according to Accern. Accern scores the sentiment of press coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Oil-Dri Co. Of America earned a media sentiment score of 0.09 on Accern’s scale. Accern also assigned media stories about the specialty chemicals company an impact score of 46.8612042902979 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Separately, TheStreet cut Oil-Dri Co. Of America from a “b” rating to a “c+” rating in a research report on Tuesday, March 27th.
Shares of ODC traded up $1.18 during trading hours on Thursday, hitting $40.88. 7,154 shares of the stock were exchanged, compared to its average volume of 10,222. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.82. Oil-Dri Co. Of America has a 12-month low of $33.61 and a 12-month high of $50.82. The stock has a market capitalization of $282.77, a price-to-earnings ratio of 24.60 and a beta of 0.98.
Oil-Dri Co. Of America announced that its Board of Directors has initiated a stock buyback plan on Wednesday, March 21st that authorizes the company to repurchase 300,000 shares. This repurchase authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 18th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, May 17th.
In related news, Director Allan H. Selig bought 1,000 shares of the company’s stock in a transaction on Wednesday, March 14th. The stock was bought at an average cost of $37.10 per share, for a total transaction of $37,100.00. Following the acquisition, the director now directly owns 33,000 shares in the company, valued at $1,224,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 13.86% of the stock is owned by corporate insiders.
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About Oil-Dri Co. Of America
Oil-Dri Corporation of America develops, manufactures, and markets sorbent products in the United States and internationally. It provides agricultural and horticultural products, including functional granules and powders for crop protection chemical carriers, drying agents, and growing media under the Agsorb, Verge, Flo-Fre, and Terra-Green brand names.
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