Oil-Dri Corporation Of America (NYSE:ODC) Trading 8.7% Higher – Time to Buy?

Oil-Dri Corporation Of America (NYSE:ODC) traded up 8.7% during trading on Tuesday . The company traded as high as $93.76 and last traded at $91.2780. 25,011 shares were traded during trading, a decline of 64% from the average session volume of 68,804 shares. The stock had previously closed at $83.99.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Weiss Ratings upgraded shares of Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Wall Street Zen downgraded shares of Oil-Dri Corporation Of America from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Oil-Dri Corporation Of America presently has an average rating of “Buy”.

Oil-Dri Corporation Of America Stock Performance

The stock’s 50-day moving average price is $75.31 and its 200-day moving average price is $63.99. The company has a current ratio of 3.28, a quick ratio of 2.40 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.39 billion, a P/E ratio of 24.59 and a beta of 0.81.

Oil-Dri Corporation Of America (NYSE:ODC) last posted its quarterly earnings results on Monday, June 8th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter. Oil-Dri Corporation Of America had a net margin of 11.35% and a return on equity of 20.53%. The company had revenue of $126.33 million for the quarter. During the same quarter in the previous year, the business posted $0.80 earnings per share.

Oil-Dri Corporation Of America Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 7th. This is an increase from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.21. Oil-Dri Corporation Of America’s payout ratio is 23.14%.

Insider Transactions at Oil-Dri Corporation Of America

In other news, Director Ellen-Blair Chube sold 1,390 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $73.06, for a total value of $101,553.40. Following the transaction, the director directly owned 8,930 shares in the company, valued at approximately $652,425.80. This trade represents a 13.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Hindsley sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $63.90, for a total transaction of $383,400.00. Following the completion of the transaction, the director owned 11,000 shares in the company, valued at approximately $702,900. The trade was a 35.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 11.69% of the company’s stock.

Institutional Trading of Oil-Dri Corporation Of America

Large investors have recently modified their holdings of the company. Tudor Investment Corp ET AL increased its holdings in shares of Oil-Dri Corporation Of America by 190.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 52,935 shares of the specialty chemicals company’s stock worth $3,231,000 after acquiring an additional 34,706 shares during the period. American Century Companies Inc. increased its holdings in shares of Oil-Dri Corporation Of America by 9.6% in the 3rd quarter. American Century Companies Inc. now owns 401,152 shares of the specialty chemicals company’s stock worth $24,486,000 after acquiring an additional 35,302 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Oil-Dri Corporation Of America by 206.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,921 shares of the specialty chemicals company’s stock worth $2,681,000 after acquiring an additional 29,583 shares during the period. Allianz Asset Management GmbH acquired a new stake in shares of Oil-Dri Corporation Of America in the 3rd quarter worth about $483,000. Finally, Teton Advisors LLC acquired a new stake in shares of Oil-Dri Corporation Of America in the 3rd quarter worth about $842,000. Institutional investors and hedge funds 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.