Oil-Dri Corporation Of America (NYSE:ODC) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Oil-Dri Corporation Of America (NYSE:ODC) from a strong-buy rating to a buy rating in a research note published on Saturday morning.

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Oil-Dri Corporation Of America has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Price Performance

NYSE:ODC opened at $92.39 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.28 and a quick ratio of 2.40. The company has a 50 day moving average price of $97.31 and a 200-day moving average price of $79.15. Oil-Dri Corporation Of America has a 1-year low of $45.61 and a 1-year high of $107.00. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 23.75 and a beta of 0.78.

Oil-Dri Corporation Of America (NYSE:ODC) last announced 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 firm had revenue of $126.33 million for the quarter. During the same period last year, the company posted $0.80 earnings per share.

Oil-Dri Corporation Of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.90 dividend on an annualized basis and a yield of 1.0%. This is an increase from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.20. Oil-Dri Corporation Of America’s dividend payout ratio is 23.14%.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in shares of Oil-Dri Corporation Of America by 57.4% during the 2nd 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 last quarter. Raymond James Financial Inc. purchased a new position in Oil-Dri Corporation Of America in the 2nd quarter valued at about $45,000. Fifth Third Bancorp acquired a new stake in Oil-Dri Corporation Of America in the 1st quarter worth about $54,000. Trust Co. of Vermont acquired a new stake in Oil-Dri Corporation Of America in the 2nd quarter worth about $61,000. Finally, Legal & General Group Plc increased its stake in Oil-Dri Corporation Of America by 20.1% during the 2nd 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 in the last quarter. 49.01% of the stock is currently owned by institutional investors and hedge funds.

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.