Short Interest in Oil-Dri Corporation Of America (NYSE:ODC) Rises By 74.0%

Oil-Dri Corporation Of America (NYSE:ODC) was the target of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 654,754 shares, an increase of 74.0% from the July 30th total of 376,348 shares. Based on an average daily trading volume, of 180,285 shares, the days-to-cover ratio is presently 3.6 days. Currently, 5.1% of the company’s stock are short sold.

Oil-Dri Corporation Of America Stock Up 1.9%

NYSE ODC traded up $1.68 during trading hours on Tuesday, hitting $91.66. 49,654 shares of the company traded hands, compared to its average volume of 90,092. 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 business’s 50-day moving average is $96.61 and its 200-day moving average is $81.21. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 23.56 and a beta of 0.78. Oil-Dri Corporation Of America has a twelve month low of $45.61 and a twelve month high of $107.00.

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

Oil-Dri Corporation Of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were paid a dividend of $0.225 per share. The ex-dividend date was Friday, August 7th. This represents a $0.90 annualized dividend and a dividend yield of 1.0%. 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 (DPR) is presently 23.14%.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Several hedge funds have recently bought and sold shares of ODC. Royal Bank of Canada grew its holdings in Oil-Dri Corporation Of America by 79.0% during the first quarter. Royal Bank of Canada now owns 31,787 shares of the specialty chemicals company’s stock worth $1,460,000 after purchasing an additional 14,030 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Oil-Dri Corporation Of America by 108.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,792 shares of the specialty chemicals company’s stock valued at $266,000 after buying an additional 3,010 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Oil-Dri Corporation Of America by 122.6% in the first quarter. Goldman Sachs Group Inc. now owns 87,725 shares of the specialty chemicals company’s stock valued at $4,028,000 after buying an additional 48,309 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Oil-Dri Corporation Of America by 204.7% during the 1st quarter. Jane Street Group LLC now owns 19,498 shares of the specialty chemicals company’s stock worth $895,000 after acquiring an additional 13,099 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Oil-Dri Corporation Of America by 44.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,338 shares of the specialty chemicals company’s stock worth $846,000 after acquiring an additional 4,386 shares during the period. 49.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ODC shares. Wall Street Zen cut shares of Oil-Dri Corporation Of America from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a research report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

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.