ProShare Advisors LLC Trims Stock Position in Oil-Dri Corporation Of America $ODC

ProShare Advisors LLC trimmed its stake in Oil-Dri Corporation Of America (NYSE:ODC) by 77.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,951 shares of the specialty chemicals company’s stock after selling 149,311 shares during the period. ProShare Advisors LLC owned approximately 0.30% of Oil-Dri Corporation Of America worth $2,593,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MAI Capital Management boosted its stake in Oil-Dri Corporation Of America by 100.0% in the first quarter. MAI Capital Management now owns 600 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 300 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Oil-Dri Corporation Of America by 100.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,160 shares of the specialty chemicals company’s stock valued at $53,000 after purchasing an additional 580 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Oil-Dri Corporation Of America in the 1st quarter valued at about $105,000. New York State Common Retirement Fund boosted its position in shares of Oil-Dri Corporation Of America by 100.0% in the 1st quarter. New York State Common Retirement Fund now owns 4,082 shares of the specialty chemicals company’s stock valued at $187,000 after purchasing an additional 2,041 shares during the period. Finally, Corebridge Financial Inc. grew its stake in Oil-Dri Corporation Of America by 97.1% during the 1st quarter. Corebridge Financial Inc. now owns 4,797 shares of the specialty chemicals company’s stock worth $220,000 after buying an additional 2,363 shares during the last quarter. 49.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on ODC. Wall Street Zen upgraded Oil-Dri Corporation Of America from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Oil-Dri Corporation Of America presently has an average rating of “Buy”.

Oil-Dri Corporation Of America Trading Up 0.4%

NYSE:ODC opened at $57.11 on Friday. Oil-Dri Corporation Of America has a 12-month low of $33.55 and a 12-month high of $69.75. The company has a current ratio of 2.56, a quick ratio of 1.82 and a debt-to-equity ratio of 0.15. The stock’s 50 day simple moving average is $60.66 and its 200-day simple moving average is $57.28. The firm has a market cap of $836.19 million, a P/E ratio of 15.41 and a beta of 0.68.

Oil-Dri Corporation Of America (NYSE:ODC) last announced its quarterly earnings data on Thursday, October 9th. The specialty chemicals company reported $0.89 earnings per share (EPS) for the quarter. The company had revenue of $125.21 million for the quarter. Oil-Dri Corporation Of America had a net margin of 11.12% and a return on equity of 22.36%.

Oil-Dri Corporation Of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Friday, November 7th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 7th. Oil-Dri Corporation Of America’s dividend payout ratio is currently 19.46%.

Insider Activity

In related news, VP Walter Wade Robey sold 4,025 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $59.18, for a total value of $238,199.50. Following the completion of the sale, the vice president owned 25,000 shares in the company, valued at $1,479,500. This trade represents a 13.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Laura G. Scheland sold 850 shares of the business’s stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $60.30, for a total value of $51,255.00. Following the transaction, the vice president owned 39,900 shares in the company, valued at $2,405,970. The trade was a 2.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 11.69% of the company’s stock.

Oil-Dri Corporation Of America Profile

Oil-Dri Corporation of America is a manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets. It operates through the Business to Business Products Group and Retail and Wholesale Products Group segments.