Oil-Dri Corporation Of America (NYSE:ODC) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Oil-Dri Corporation Of America (NYSE:ODC) saw unusually-high trading volume on Tuesday . Approximately 75,396 shares changed hands during mid-day trading, an increase of 19% from the previous session’s volume of 63,281 shares.The stock last traded at $75.77 and had previously closed at $76.17.

Analysts Set New Price Targets

ODC has been the subject of several research analyst reports. Weiss Ratings upgraded Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Wall Street Zen cut Oil-Dri Corporation Of America from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Oil-Dri Corporation Of America Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 3.45 and a quick ratio of 2.40. The stock’s 50 day simple moving average is $69.81 and its two-hundred day simple moving average is $61.32. The company has a market capitalization of $1.09 billion, a P/E ratio of 20.40 and a beta of 0.82.

Oil-Dri Corporation Of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, May 8th. Oil-Dri Corporation Of America’s payout ratio is 22.22%.

Insiders Place Their Bets

In other Oil-Dri Corporation Of America news, Director Paul Hindsley sold 6,000 shares of the business’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 sale, the director directly owned 11,000 shares of the company’s stock, valued at approximately $702,900. The trade was a 35.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ellen-Blair Chube sold 1,390 shares of the company’s stock in a transaction on Wednesday, April 22nd. The shares were 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 of the company’s stock, valued at $652,425.80. The trade was a 13.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 11.69% of the company’s stock.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its stake in shares of Oil-Dri Corporation Of America by 20.8% in the 1st quarter. Bank of America Corp DE now owns 14,223 shares of the specialty chemicals company’s stock valued at $926,000 after acquiring an additional 2,445 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Oil-Dri Corporation Of America during the 1st quarter worth approximately $259,000. Quantinno Capital Management LP increased its stake in Oil-Dri Corporation Of America by 16.4% during the 1st quarter. Quantinno Capital Management LP now owns 8,944 shares of the specialty chemicals company’s stock worth $582,000 after purchasing an additional 1,259 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Oil-Dri Corporation Of America by 17.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 85,264 shares of the specialty chemicals company’s stock worth $5,550,000 after purchasing an additional 12,462 shares in the last quarter. Finally, Valmark Advisers Inc. bought a new stake in Oil-Dri Corporation Of America during the 1st quarter worth approximately $212,000. Institutional investors own 49.01% of the company’s stock.

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.