Oil-Dri Corporation Of America (NYSE:ODC) Sets New 52-Week High – Here’s What Happened

Oil-Dri Corporation Of America (NYSE:ODC)’s share price hit a new 52-week high on Monday . The stock traded as high as $70.00 and last traded at $69.3750, with a volume of 38312 shares trading hands. The stock had previously closed at $67.84.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a report on Monday, December 22nd. Wall Street Zen cut Oil-Dri Corporation Of America from a “strong-buy” rating to a “hold” rating in a report on Saturday, December 13th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Oil-Dri Corporation Of America Stock Performance

The stock has a 50 day moving average price of $58.20 and a two-hundred day moving average price of $58.22. 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 capitalization of $1.00 billion, a price-to-earnings ratio of 18.85 and a beta of 0.77.

Oil-Dri Corporation Of America (NYSE:ODC) last issued its quarterly earnings data on Monday, December 8th. The specialty chemicals company reported $1.06 EPS 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 for the quarter. During the same period in the prior year, the company earned $2.25 EPS.

Oil-Dri Corporation Of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be given a $0.205 dividend. This is a boost from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, February 20th. This represents a $0.82 annualized dividend and a yield of 1.2%. Oil-Dri Corporation Of America’s dividend payout ratio is presently 22.53%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its position in shares of Oil-Dri Corporation Of America by 57.4% during the second quarter. Russell Investments Group Ltd. now owns 502 shares of the specialty chemicals company’s stock worth $30,000 after acquiring an additional 183 shares during the last quarter. Raymond James Financial Inc. bought a new position in Oil-Dri Corporation Of America in the second quarter valued at about $45,000. Ameritas Investment Partners Inc. increased its position in Oil-Dri Corporation Of America by 25.1% in the second 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 period. Legal & General Group Plc raised its holdings in Oil-Dri Corporation Of America by 20.1% during 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 during the last quarter. Finally, Copeland Capital Management LLC acquired a new position in Oil-Dri Corporation Of America during the 3rd quarter valued at about $67,000. 49.01% of the stock is currently owned by 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.