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

Oil-Dri Corporation Of America (NYSE:ODC) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $77.94 and last traded at $76.8150, with a volume of 42774 shares trading hands. The stock had previously closed at $77.28.

Analyst Upgrades and Downgrades

ODC has been the topic of several recent analyst reports. 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 cut shares of Oil-Dri Corporation Of America from a “buy” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy”.

Oil-Dri Corporation Of America Stock Down 0.6%

The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 20.82 and a beta of 0.82. The stock’s fifty day simple moving average is $68.48 and its two-hundred day simple moving average is $60.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.45 and a quick ratio of 2.40.

Oil-Dri Corporation Of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 8th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, May 8th. Oil-Dri Corporation Of America’s dividend payout ratio is 22.22%.

Insiders Place Their Bets

In other Oil-Dri Corporation Of America news, Director Ellen-Blair Chube sold 1,390 shares of the stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $73.06, for a total transaction of $101,553.40. Following the sale, the director directly owned 8,930 shares of the company’s stock, valued at approximately $652,425.80. This 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 at the SEC website. Also, Director Paul Hindsley sold 6,000 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $63.90, for a total transaction of $383,400.00. Following the sale, the director directly owned 11,000 shares in the company, valued at $702,900. This trade represents a 35.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 11.69% of the stock is currently owned by corporate insiders.

Institutional Trading of Oil-Dri Corporation Of America

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. raised its holdings 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 purchasing an additional 183 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Oil-Dri Corporation Of America during the second quarter worth $45,000. Fifth Third Bancorp bought a new position in shares of Oil-Dri Corporation Of America during the first quarter worth about $54,000. Legal & General Group Plc grew its position in shares of Oil-Dri Corporation Of America by 20.1% during the second quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company’s stock worth $63,000 after acquiring an additional 178 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co bought a new position in shares of Oil-Dri Corporation Of America during the third quarter worth about $96,000. 49.01% of the stock is owned by institutional investors and hedge funds.

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.