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

Oil-Dri Corporation Of America (NYSE:ODC) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $57.36 and traded as high as $59.63. Oil-Dri Corporation Of America shares last traded at $58.37, with a volume of 62,504 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ODC. Wall Street Zen lowered Oil-Dri Corporation Of America from a “strong-buy” rating to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Stock Down 1.1%

The firm’s 50-day moving average price is $52.43 and its 200-day moving average price is $57.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.34 and a quick ratio of 2.23. The company has a market cap of $851.03 million, a price-to-earnings ratio of 16.04 and a beta of 0.77.

Oil-Dri Corporation Of America (NYSE:ODC) last announced its quarterly earnings results on Monday, December 8th. The specialty chemicals company reported $1.06 earnings per share for the quarter. Oil-Dri Corporation Of America had a net margin of 11.10% and a return on equity of 21.06%. The firm had revenue of $120.49 million during the quarter. During the same period last year, the company posted $2.25 earnings per share.

Oil-Dri Corporation Of America Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be given a $0.205 dividend. The ex-dividend date of this dividend is Friday, February 20th. This is a positive change from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.18. This represents a $0.82 annualized dividend and a dividend yield of 1.4%. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is currently 19.78%.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc raised its holdings in Oil-Dri Corporation Of America by 20.1% in the second quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company’s stock valued at $63,000 after acquiring an additional 178 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of 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 during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Oil-Dri Corporation Of America by 25.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,013 shares of the specialty chemicals company’s stock worth $60,000 after purchasing an additional 203 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Oil-Dri Corporation Of America by 4.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,280 shares of the specialty chemicals company’s stock valued at $444,000 after purchasing an additional 284 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its position in shares of Oil-Dri Corporation Of America by 2.3% during the second quarter. Apollon Wealth Management LLC now owns 12,638 shares of the specialty chemicals company’s stock worth $746,000 after purchasing an additional 287 shares during the last quarter. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

About Oil-Dri Corporation Of America

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.