Oil-Dri Corporation Of America (NYSE:ODC) Stock Crosses Above 200-Day Moving Average – Here’s Why

Oil-Dri Corporation Of America (NYSE:ODC) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $73.27 and traded as high as $97.99. Oil-Dri Corporation Of America shares last traded at $94.4260, with a volume of 157,644 shares.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ODC. 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 shares of Oil-Dri Corporation Of America from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 12th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Stock Performance

The company has a quick ratio of 2.40, a current ratio of 3.28 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $90.79 and a two-hundred day moving average price of $73.59. The stock has a market cap of $1.38 billion, a P/E ratio of 24.46 and a beta of 0.77.

Oil-Dri Corporation Of America (NYSE:ODC) last posted its quarterly earnings results on Monday, June 8th. The specialty chemicals company reported $1.00 EPS for the quarter. Oil-Dri Corporation Of America had a return on equity of 20.53% and a net margin of 11.35%.The company had revenue of $126.33 million for the quarter. During the same period in the prior year, the firm posted $0.80 earnings per share.

Oil-Dri Corporation Of America Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 0.9%. This is a boost from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, August 7th. Oil-Dri Corporation Of America’s payout ratio is presently 21.08%.

Institutional Trading of Oil-Dri Corporation Of America

A number of institutional investors and hedge funds have recently bought and sold shares of ODC. Vanguard Group Inc. lifted its stake in Oil-Dri Corporation Of America by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 641,978 shares of the specialty chemicals company’s stock worth $39,186,000 after purchasing an additional 8,951 shares in the last quarter. Needham Investment Management LLC lifted its position in shares of Oil-Dri Corporation Of America by 10.7% in the fourth quarter. Needham Investment Management LLC now owns 635,000 shares of the specialty chemicals company’s stock worth $31,077,000 after buying an additional 61,500 shares in the last quarter. Geode Capital Management LLC grew its holdings in 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 valued at $13,386,000 after buying an additional 10,102 shares in the last quarter. State Street Corp grew its holdings in 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 valued at $10,943,000 after buying an additional 7,005 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in Oil-Dri Corporation Of America by 12.9% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 141,178 shares of the specialty chemicals company’s stock worth $6,909,000 after acquiring an additional 16,124 shares during the last quarter. 49.01% of the stock is currently owned by 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.