StockNews.com Upgrades Oil-Dri Co. of America (NYSE:ODC) to “Buy”

StockNews.com upgraded shares of Oil-Dri Co. of America (NYSE:ODC) from a hold rating to a buy rating in a report released on Wednesday.

Oil-Dri Co. of America Stock Performance

ODC stock opened at $45.67 on Wednesday. The firm has a market cap of $666.50 million, a PE ratio of 14.75 and a beta of 0.44. Oil-Dri Co. of America has a 1-year low of $29.47 and a 1-year high of $49.72. The stock has a 50-day moving average price of $44.45 and a 200-day moving average price of $30.50. The company has a current ratio of 2.63, a quick ratio of 1.61 and a debt-to-equity ratio of 0.20.

Oil-Dri Co. of America (NYSE:ODC) last issued its quarterly earnings data on Tuesday, March 11th. The specialty chemicals company reported $0.89 earnings per share (EPS) for the quarter. Oil-Dri Co. of America had a net margin of 9.92% and a return on equity of 21.84%. The firm had revenue of $116.91 million during the quarter.

Oil-Dri Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.62 annualized dividend and a yield of 1.36%. Oil-Dri Co. of America’s payout ratio is 19.81%.

Insiders Place Their Bets

In other Oil-Dri Co. of America news, Director Amy Ryan sold 2,100 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $41.78, for a total value of $87,738.00. Following the completion of the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at $162,942. This trade represents a 35.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher B. Lamson sold 3,154 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $42.75, for a total value of $134,833.50. Following the completion of the transaction, the vice president now owns 70,796 shares in the company, valued at $3,026,529. This represents a 4.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.66% of the company’s stock.

Hedge Funds Weigh In On Oil-Dri Co. of America

A number of hedge funds and other institutional investors have recently modified their holdings of ODC. Needham Investment Management LLC boosted its holdings in Oil-Dri Co. of America by 4.7% during the 4th quarter. Needham Investment Management LLC now owns 280,000 shares of the specialty chemicals company’s stock valued at $24,539,000 after acquiring an additional 12,500 shares during the period. Royce & Associates LP boosted its stake in shares of Oil-Dri Co. of America by 2.5% during the 4th quarter. Royce & Associates LP now owns 166,000 shares of the specialty chemicals company’s stock valued at $14,548,000 after purchasing an additional 4,000 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Oil-Dri Co. of America by 11.5% during the 4th quarter. American Century Companies Inc. now owns 146,239 shares of the specialty chemicals company’s stock worth $12,816,000 after acquiring an additional 15,041 shares during the period. ProShare Advisors LLC raised its holdings in Oil-Dri Co. of America by 6.1% in the fourth quarter. ProShare Advisors LLC now owns 132,412 shares of the specialty chemicals company’s stock worth $11,605,000 after purchasing an additional 7,606 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Oil-Dri Co. of America by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 112,183 shares of the specialty chemicals company’s stock valued at $9,834,000 after acquiring an additional 352 shares during the period. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

Oil-Dri Co. of America Company Profile

Oil-Dri Corporation of America is a manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets. It operates through the Business to Business Products Group and Retail and Wholesale Products Group segments.