Oil-Dri Corporation Of America (NYSE:ODC) Shares Gap Down on Insider Selling

Oil-Dri Corporation Of America (NYSE:ODC)’s stock price gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $65.43, but opened at $63.32. Oil-Dri Corporation Of America shares last traded at $63.78, with a volume of 5,769 shares traded.

Specifically, 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 value of $383,400.00. Following the sale, the director directly owned 11,000 shares of the company’s stock, valued at $702,900. This trade represents a 35.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Analysts Set New Price Targets

Several research analysts have commented on ODC shares. Wall Street Zen downgraded Oil-Dri Corporation Of America from a “strong-buy” rating to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Stock Up 1.5%

The firm has a 50-day simple moving average of $60.77 and a 200 day simple moving average of $58.58. The stock has a market capitalization of $940.26 million, a P/E ratio of 17.48 and a beta of 0.77. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.45 and a quick ratio of 2.40.

Oil-Dri Corporation Of America Announces Dividend

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 issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, May 8th. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is 22.22%.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Several hedge funds have recently added to or reduced their stakes in ODC. American Century Companies Inc. grew its stake in shares of Oil-Dri Corporation Of America by 9.6% in the third quarter. American Century Companies Inc. now owns 401,152 shares of the specialty chemicals company’s stock worth $24,486,000 after purchasing an additional 35,302 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Oil-Dri Corporation Of America by 51.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 88,177 shares of the specialty chemicals company’s stock worth $5,382,000 after purchasing an additional 30,025 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in Oil-Dri Corporation Of America during the 3rd quarter worth about $483,000. Sowell Financial Services LLC bought a new stake in shares of Oil-Dri Corporation Of America in the 3rd quarter valued at about $657,000. Finally, Teton Advisors LLC bought a new stake in shares of Oil-Dri Corporation Of America in the 3rd quarter valued at about $842,000. 49.01% of the stock is currently owned by institutional investors and hedge funds.

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.