Oil-Dri Corporation Of America (NYSE:ODC) Sees Large Volume Increase – Time to Buy?

Oil-Dri Corporation Of America (NYSE:ODC) saw strong trading volume on Tuesday . 75,396 shares traded hands during trading, an increase of 19% from the previous session’s volume of 63,281 shares.The stock last traded at $75.77 and had previously closed at $76.17.

Analysts Set New Price Targets

ODC has been the topic of a number of recent research reports. Wall Street Zen downgraded Oil-Dri Corporation Of America from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Oil-Dri Corporation Of America Trading Down 0.1%

The company has a market cap of $1.10 billion, a price-to-earnings ratio of 20.62 and a beta of 0.82. The company’s 50 day moving average price is $69.40 and its 200 day moving average price is $61.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.40 and a current ratio of 3.45.

Oil-Dri Corporation Of America Dividend Announcement

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

Insider Buying and Selling at Oil-Dri Corporation Of America

In other news, Director Paul Hindsley sold 6,000 shares of Oil-Dri Corporation Of America stock in a transaction that occurred 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 owned 11,000 shares of the company’s stock, valued at approximately $702,900. This trade represents a 35.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ellen-Blair Chube sold 1,390 shares of the business’s 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 completion of the sale, the director directly owned 8,930 shares in the company, valued at $652,425.80. This trade represents a 13.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 11.69% of the company’s stock.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

Several hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its holdings in 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 buying an additional 178 shares during the last quarter. Russell Investments Group Ltd. raised its stake 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 valued at $30,000 after purchasing an additional 183 shares during the period. Cardinal Capital Management boosted its position in Oil-Dri Corporation Of America by 0.3% during the 4th quarter. Cardinal Capital Management now owns 87,950 shares of the specialty chemicals company’s stock worth $4,304,000 after acquiring an additional 279 shares during the last quarter. Franklin Resources Inc. grew its position in Oil-Dri Corporation Of America by 4.1% in the third 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, SG Americas Securities LLC grew its holdings in shares of Oil-Dri Corporation Of America by 9.4% in the 4th quarter. SG Americas Securities LLC now owns 4,567 shares of the specialty chemicals company’s stock valued at $224,000 after acquiring an additional 391 shares in the last quarter. Institutional investors own 49.01% of the company’s stock.

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.