Oil-Dri Co. of America (NYSE:ODC) Stock Price Up 6.3% After Dividend Announcement

Oil-Dri Co. of America (NYSE:ODC)’s stock price rose 6.3% on Wednesday following a dividend announcement from the company. The company traded as high as $85.65 and last traded at $85.65. Approximately 26,045 shares were traded during trading, an increase of 36% from the average daily volume of 19,158 shares. The stock had previously closed at $80.60.

The newly announced dividend which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.62 annualized dividend and a yield of 0.71%. Oil-Dri Co. of America’s dividend payout ratio is 20.03%.

Oil-Dri Co. of America Trading Up 1.2 %

The firm’s fifty day simple moving average is $70.00 and its 200 day simple moving average is $68.12. The stock has a market capitalization of $635.25 million, a P/E ratio of 14.08 and a beta of 0.58. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 2.63.

Oil-Dri Co. of America (NYSE:ODC) last released its earnings results on Thursday, October 10th. The specialty chemicals company reported $1.17 earnings per share (EPS) for the quarter. Oil-Dri Co. of America had a return on equity of 21.84% and a net margin of 9.92%. The firm had revenue of $113.70 million for the quarter.

Insiders Place Their Bets

In other news, VP Laura G. Scheland sold 2,500 shares of Oil-Dri Co. of America stock in a transaction on Friday, October 18th. The shares were sold at an average price of $69.27, for a total transaction of $173,175.00. Following the transaction, the vice president now owns 15,340 shares in the company, valued at approximately $1,062,601.80. The trade was a 14.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.66% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Franklin Resources Inc. bought a new stake in shares of Oil-Dri Co. of America during the 3rd quarter valued at about $216,000. Barclays PLC increased its stake in Oil-Dri Co. of America by 41.5% during the 3rd quarter. Barclays PLC now owns 9,743 shares of the specialty chemicals company’s stock valued at $673,000 after purchasing an additional 2,859 shares in the last quarter. State Street Corp raised its holdings in Oil-Dri Co. of America by 2.1% during the third quarter. State Street Corp now owns 103,006 shares of the specialty chemicals company’s stock worth $7,106,000 after buying an additional 2,114 shares during the last quarter. Needham Investment Management LLC raised its holdings in Oil-Dri Co. of America by 10.8% during the third quarter. Needham Investment Management LLC now owns 267,500 shares of the specialty chemicals company’s stock worth $18,455,000 after buying an additional 26,000 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Oil-Dri Co. of America by 30.2% in the third quarter. Janus Henderson Group PLC now owns 4,253 shares of the specialty chemicals company’s stock valued at $293,000 after buying an additional 986 shares in the last quarter. 49.01% of the stock is owned by institutional investors.

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.