Kennedy Capital Management LLC Decreases Stock Position in Oil-Dri Co. of America (NYSE:ODC)

Kennedy Capital Management LLC reduced its position in Oil-Dri Co. of America (NYSE:ODC) by 1.5% in the first quarter, Holdings Channel.com reports. The fund owned 18,000 shares of the specialty chemicals company’s stock after selling 266 shares during the period. Kennedy Capital Management LLC’s holdings in Oil-Dri Co. of America were worth $1,342,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ODC. Vanguard Group Inc. grew its position in shares of Oil-Dri Co. of America by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 269,360 shares of the specialty chemicals company’s stock valued at $16,633,000 after acquiring an additional 1,199 shares during the period. SG Americas Securities LLC grew its position in shares of Oil-Dri Co. of America by 27.9% during the 4th quarter. SG Americas Securities LLC now owns 2,280 shares of the specialty chemicals company’s stock valued at $153,000 after acquiring an additional 498 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Oil-Dri Co. of America by 25.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 17,114 shares of the specialty chemicals company’s stock valued at $1,148,000 after acquiring an additional 3,420 shares during the period. Strs Ohio boosted its holdings in Oil-Dri Co. of America by 91.7% in the 4th quarter. Strs Ohio now owns 2,300 shares of the specialty chemicals company’s stock worth $154,000 after buying an additional 1,100 shares during the period. Finally, Foundry Partners LLC boosted its holdings in Oil-Dri Co. of America by 0.8% in the 4th quarter. Foundry Partners LLC now owns 78,625 shares of the specialty chemicals company’s stock worth $5,274,000 after buying an additional 640 shares during the period. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

Oil-Dri Co. of America Stock Up 0.9 %

ODC opened at $65.10 on Thursday. The firm has a 50-day simple moving average of $68.39 and a two-hundred day simple moving average of $70.15. Oil-Dri Co. of America has a 52 week low of $54.80 and a 52 week high of $87.32. The company has a market capitalization of $474.58 million, a PE ratio of 10.96 and a beta of 0.61. The company has a quick ratio of 2.18, a current ratio of 3.06 and a debt-to-equity ratio of 0.20.

Oil-Dri Co. of America (NYSE:ODC) last released its quarterly earnings data on Thursday, June 6th. The specialty chemicals company reported $1.07 EPS for the quarter. Oil-Dri Co. of America had a net margin of 9.93% and a return on equity of 22.80%. The business had revenue of $106.78 million during the quarter.

Oil-Dri Co. of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.90%. This is a boost from Oil-Dri Co. of America’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, August 9th. Oil-Dri Co. of America’s dividend payout ratio is currently 19.53%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Oil-Dri Co. of America from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd.

Insider Activity

In related news, Director George C. Roeth sold 1,500 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $65.00, for a total value of $97,500.00. Following the sale, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $260,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.28% of the company’s stock.

About Oil-Dri Co. of America

Oil-Dri Corporation of America, together with its subsidiaries, develops, manufactures, and markets sorbent products in the United States and internationally. It operates in two segments, Retail and Wholesale Products Group, and Business to Business Products Group. The company provides agricultural and horticultural products, including mineral-based absorbent products that serve as carriers for biological and chemical active ingredients, drying agents, and growing media under the Agsorb, Verge, and Flo-Fre brand names.