Oil-Dri Corporation Of America (NYSE:ODC) Hits New 1-Year High – What’s Next?

Oil-Dri Corporation Of America (NYSE:ODC) hit a new 52-week high during trading on Monday . The company traded as high as $107.00 and last traded at $106.7270, with a volume of 129161 shares changing hands. The stock had previously closed at $104.41.

Analysts Set New Price Targets

ODC has been the subject of several research reports. Wall Street Zen raised shares of Oil-Dri Corporation Of America from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Weiss Ratings upgraded Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently 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 3.28 and a quick ratio of 2.40. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 27.44 and a beta of 0.77. The firm has a 50 day simple moving average of $87.39 and a 200-day simple moving average of $71.08.

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 for the quarter. The business had revenue of $126.33 million during the quarter. Oil-Dri Corporation Of America had a net margin of 11.35% and a return on equity of 20.53%. During the same quarter in the prior year, the business earned $0.80 earnings per share.

Oil-Dri Corporation Of America Increases Dividend

The company 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. This is an increase from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.20. This represents a $0.90 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, August 7th. Oil-Dri Corporation Of America’s payout ratio is presently 21.08%.

Insider Buying and Selling at Oil-Dri Corporation Of America

In other news, Director Ellen-Blair Chube sold 1,390 shares of Oil-Dri Corporation Of America 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 completion of the sale, the director directly owned 8,930 shares of the company’s stock, valued at approximately $652,425.80. The trade was a 13.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.69% of the company’s stock.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL lifted its position in Oil-Dri Corporation Of America by 190.4% in the third quarter. Tudor Investment Corp ET AL now owns 52,935 shares of the specialty chemicals company’s stock valued at $3,231,000 after purchasing an additional 34,706 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Oil-Dri Corporation Of America by 206.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,921 shares of the specialty chemicals company’s stock worth $2,681,000 after buying an additional 29,583 shares in the last quarter. Barnett & Company Inc. lifted its holdings in shares of Oil-Dri Corporation Of America by 116.5% in the 1st quarter. Barnett & Company Inc. now owns 26,850 shares of the specialty chemicals company’s stock valued at $1,748,000 after buying an additional 14,450 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of Oil-Dri Corporation Of America by 12.9% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 141,178 shares of the specialty chemicals company’s stock valued at $6,909,000 after buying an additional 16,124 shares in the last quarter. Finally, Needham Investment Management LLC grew its holdings in Oil-Dri Corporation Of America by 10.7% during the fourth quarter. Needham Investment Management LLC now owns 635,000 shares of the specialty chemicals company’s stock worth $31,077,000 after acquiring an additional 61,500 shares during the period. 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.