Oil-Dri Corporation Of America (NYSE:ODC) Sets New 12-Month High – What’s Next?

Oil-Dri Corporation Of America (NYSE:ODC) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $107.00 and last traded at $106.7270, with a volume of 129161 shares changing hands. The stock had previously closed at $104.41.

Wall Street Analyst Weigh In

ODC has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Wall Street Zen upgraded Oil-Dri Corporation Of America from a “buy” rating to a “strong-buy” rating in a research note on Sunday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.40 and a current ratio of 3.28. The firm’s 50 day simple moving average is $88.64 and its 200-day simple moving average is $71.87. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 26.63 and a beta of 0.77.

Oil-Dri Corporation Of America (NYSE:ODC) last issued its earnings results on Monday, June 8th. The specialty chemicals company reported $1.00 EPS for the quarter. The business had revenue of $126.33 million during the quarter. Oil-Dri Corporation Of America had a net margin of 11.35% and a return on equity of 20.53%. During the same quarter last year, the company earned $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. Investors of record on Friday, August 7th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.90 annualized dividend and a yield of 0.9%. This is a boost from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.20. Oil-Dri Corporation Of America’s dividend payout ratio is currently 23.14%.

Insider Buying and Selling

In other Oil-Dri Corporation Of America news, Director Ellen-Blair Chube sold 1,390 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $652,425.80. This trade represents a 13.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 11.69% of the company’s stock.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Oil-Dri Corporation Of America by 1.4% during the third quarter. Vanguard Group Inc. now owns 641,978 shares of the specialty chemicals company’s stock worth $39,186,000 after buying an additional 8,951 shares in the last quarter. Needham Investment Management LLC increased its stake in shares of Oil-Dri Corporation Of America by 10.7% in the 4th quarter. Needham Investment Management LLC now owns 635,000 shares of the specialty chemicals company’s stock worth $31,077,000 after acquiring an additional 61,500 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Oil-Dri Corporation Of America by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 273,483 shares of the specialty chemicals company’s stock worth $13,386,000 after acquiring an additional 10,102 shares during the period. State Street Corp raised its holdings in shares of Oil-Dri Corporation Of America by 3.2% during the 4th quarter. State Street Corp now owns 223,605 shares of the specialty chemicals company’s stock worth $10,943,000 after acquiring an additional 7,005 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of Oil-Dri Corporation Of America by 12.9% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 141,178 shares of the specialty chemicals company’s stock valued at $6,909,000 after acquiring an additional 16,124 shares during the last quarter. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

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.