Oil-Dri Corporation Of America (NYSE:ODC) Trading Down 4.6% – Time to Sell?

Oil-Dri Corporation Of America (NYSE:ODC)’s stock price traded down 4.6% during mid-day trading on Wednesday . The company traded as low as $71.79 and last traded at $70.4570. 39,659 shares were traded during trading, a decline of 39% from the average session volume of 64,690 shares. The stock had previously closed at $73.87.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded Oil-Dri Corporation Of America from a “buy” rating to a “hold” rating in a report 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 investment 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 Price Performance

The company has a market capitalization of $1.09 billion, a P/E ratio of 20.34 and a beta of 0.82. The company has a 50 day moving average price of $70.02 and a 200 day moving average price of $61.46. The company has a current ratio of 3.45, a quick ratio of 2.40 and a debt-to-equity ratio of 0.14.

Oil-Dri Corporation Of America Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Ellen-Blair Chube sold 1,390 shares of the business’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $73.06, for a total transaction of $101,553.40. Following the sale, the director owned 8,930 shares in the company, valued at $652,425.80. The trade was a 13.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paul Hindsley sold 6,000 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $63.90, for a total value of $383,400.00. Following the sale, the director owned 11,000 shares in the company, valued at $702,900. This represents a 35.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 11.69% of the company’s stock.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Institutional investors have recently made changes to their positions in the stock. Needham Investment Management LLC grew its holdings in shares of Oil-Dri Corporation Of America by 10.7% in the fourth quarter. Needham Investment Management LLC now owns 635,000 shares of the specialty chemicals company’s stock valued at $31,077,000 after acquiring an additional 61,500 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Oil-Dri Corporation Of America by 122.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 87,725 shares of the specialty chemicals company’s stock worth $4,028,000 after purchasing an additional 48,309 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of Oil-Dri Corporation Of America by 111.8% in the 3rd quarter. Two Sigma Investments LP now owns 85,798 shares of the specialty chemicals company’s stock worth $5,237,000 after purchasing an additional 45,294 shares in the last quarter. Millennium Management LLC lifted its position in shares of Oil-Dri Corporation Of America by 75.2% during the 3rd quarter. Millennium Management LLC now owns 99,213 shares of the specialty chemicals company’s stock valued at $6,056,000 after buying an additional 42,572 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Oil-Dri Corporation Of America by 9.6% during the 3rd quarter. American Century Companies Inc. now owns 401,152 shares of the specialty chemicals company’s stock valued at $24,486,000 after buying an additional 35,302 shares in the last quarter. Institutional investors own 49.01% of the company’s stock.

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.