Oil-Dri Corporation Of America (NYSE:ODC) Reaches New 1-Year High – Here’s Why

Oil-Dri Corporation Of America (NYSE:ODC)’s stock price hit a new 52-week high on Friday . The company traded as high as $85.67 and last traded at $84.58, with a volume of 23010 shares. The stock had previously closed at $84.08.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ODC. Weiss Ratings raised shares of Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Wall Street Zen lowered shares of Oil-Dri Corporation Of America from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Oil-Dri Corporation Of America currently has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Price Performance

The company has a quick ratio of 2.40, a current ratio of 3.45 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.22 billion, a P/E ratio of 22.79 and a beta of 0.81. The business’s 50-day simple moving average is $73.56 and its two-hundred day simple moving average is $63.13.

Oil-Dri Corporation Of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a dividend of $0.225 per share. This is a boost from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.21. This represents a $0.90 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, August 7th. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is 22.22%.

Insider Transactions at Oil-Dri Corporation Of America

In other Oil-Dri Corporation Of America news, Director Ellen-Blair Chube sold 1,390 shares of the stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $73.06, for a total transaction of $101,553.40. Following the completion of the transaction, the director owned 8,930 shares in the company, valued at $652,425.80. This trade represents a 13.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Hindsley sold 6,000 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $63.90, for a total transaction of $383,400.00. Following the transaction, the director owned 11,000 shares of the company’s stock, valued at $702,900. This represents a 35.29% decrease in their position. The SEC filing for this sale provides additional information. 11.69% of the stock is owned by company insiders.

Institutional Trading of Oil-Dri Corporation Of America

Several institutional investors and hedge funds have recently bought and sold shares of ODC. Russell Investments Group Ltd. lifted its stake in Oil-Dri Corporation Of America by 57.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 502 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 183 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Oil-Dri Corporation Of America in the 2nd quarter worth approximately $45,000. Fifth Third Bancorp purchased a new stake in Oil-Dri Corporation Of America in the 1st quarter worth approximately $54,000. Legal & General Group Plc lifted its stake in Oil-Dri Corporation Of America by 20.1% in the 2nd quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company’s stock worth $63,000 after purchasing an additional 178 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Oil-Dri Corporation Of America by 361.7% in the 4th quarter. State of Alaska Department of Revenue now owns 1,879 shares of the specialty chemicals company’s stock worth $91,000 after purchasing an additional 1,472 shares in 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.