Forum Financial Management LP Increases Stock Holdings in Oil-Dri Corporation Of America (NYSE:ODC)

Forum Financial Management LP raised its position in Oil-Dri Corporation Of America (NYSE:ODC) by 100.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 13,030 shares of the specialty chemicals company’s stock after purchasing an additional 6,515 shares during the period. Forum Financial Management LP owned 0.09% of Oil-Dri Corporation Of America worth $598,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont increased its position in shares of Oil-Dri Corporation Of America by 100.0% during the 1st quarter. Trust Co. of Vermont now owns 600 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 300 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Oil-Dri Corporation Of America by 98.0% during the first quarter. New York State Teachers Retirement System now owns 891 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 441 shares during the last quarter. GAMMA Investing LLC lifted its stake in Oil-Dri Corporation Of America by 9,083.3% in the first quarter. GAMMA Investing LLC now owns 2,755 shares of the specialty chemicals company’s stock valued at $127,000 after buying an additional 2,725 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Oil-Dri Corporation Of America in the first quarter valued at approximately $131,000. Finally, New York State Common Retirement Fund grew its holdings in Oil-Dri Corporation Of America by 100.0% during the first quarter. New York State Common Retirement Fund now owns 4,082 shares of the specialty chemicals company’s stock worth $187,000 after acquiring an additional 2,041 shares during the period. Hedge funds and other institutional investors own 49.01% of the company’s stock.

Oil-Dri Corporation Of America Price Performance

ODC stock opened at $62.60 on Friday. The firm has a market cap of $916.45 million, a P/E ratio of 18.41 and a beta of 0.65. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.85 and a current ratio of 2.83. The stock has a 50-day simple moving average of $54.07 and a 200-day simple moving average of $47.32. Oil-Dri Corporation Of America has a 1 year low of $30.95 and a 1 year high of $63.28.

Oil-Dri Corporation Of America (NYSE:ODC) last posted its quarterly earnings data on Thursday, June 5th. The specialty chemicals company reported $0.80 EPS for the quarter. The company had revenue of $115.50 million for the quarter. Oil-Dri Corporation Of America had a return on equity of 21.57% and a net margin of 10.44%.

Oil-Dri Corporation Of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, August 8th. This is a boost from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.16. Oil-Dri Corporation Of America’s payout ratio is currently 18.24%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Oil-Dri Corporation Of America from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 22nd.

Insider Buying and Selling

In related news, Director Ellen-Blair Chube sold 3,500 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $42.51, for a total transaction of $148,785.00. Following the sale, the director directly owned 11,820 shares in the company, valued at $502,468.20. This represents a 22.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.66% of the stock is currently owned by company insiders.

About Oil-Dri Corporation Of America

Oil-Dri Corporation of America is a manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets. It operates through the Business to Business Products Group and Retail and Wholesale Products Group segments.