Oil-Dri Corporation Of America (NYSE:ODC) Issues Quarterly Earnings Results

Oil-Dri Corporation Of America (NYSE:ODC) posted its earnings results on Monday. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, FiscalAI reports. Oil-Dri Corporation Of America had a return on equity of 20.90% and a net margin of 11.35%.The company had revenue of $126.33 million during the quarter. During the same period last year, the business earned $0.80 EPS.

Oil-Dri Corporation Of America Stock Performance

NYSE ODC opened at $98.41 on Wednesday. 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 company has a market cap of $1.42 billion, a P/E ratio of 25.30 and a beta of 0.81. The stock has a 50-day moving average of $74.69 and a two-hundred day moving average of $63.70. Oil-Dri Corporation Of America has a 1-year low of $45.61 and a 1-year high of $99.03.

Oil-Dri Corporation Of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a $0.225 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.90 annualized dividend and a yield of 0.9%. This is an increase from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.21. Oil-Dri Corporation Of America’s dividend payout ratio is presently 22.22%.

Analysts Set New Price Targets

ODC has been the subject of a number of research analyst reports. Wall Street Zen cut Oil-Dri Corporation Of America from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. One equities 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”.

Insider Activity

In other Oil-Dri Corporation Of America news, Director Paul Hindsley sold 6,000 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $63.90, for a total transaction of $383,400.00. Following the sale, the director directly owned 11,000 shares in the company, valued at $702,900. This represents a 35.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ellen-Blair Chube sold 1,390 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 8,930 shares of the company’s stock, valued at $652,425.80. This represents a 13.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 11.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its stake in 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 in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Oil-Dri Corporation Of America in the 2nd quarter valued at about $45,000. Fifth Third Bancorp purchased a new position in shares of Oil-Dri Corporation Of America in the 1st quarter valued at about $54,000. Legal & General Group Plc grew its position in shares of Oil-Dri Corporation Of America by 20.1% during the second 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. Finally, State of Alaska Department of Revenue grew its position in shares of Oil-Dri Corporation Of America by 361.7% during the fourth quarter. State of Alaska Department of Revenue now owns 1,879 shares of the specialty chemicals company’s stock worth $91,000 after buying an additional 1,472 shares in the last quarter. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

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.