Oil-Dri Corporation Of America (NYSE:ODC) Reaches New 1-Year High – Time to Buy?

Oil-Dri Corporation Of America (NYSE:ODC) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $99.25 and last traded at $99.40, with a volume of 64028 shares trading hands. The stock had previously closed at $94.74.

Analyst Ratings Changes

Several research analysts recently weighed in on ODC shares. Weiss Ratings raised 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 downgraded Oil-Dri Corporation Of America from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 21st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Price Performance

The stock has a market cap of $1.46 billion, a PE ratio of 25.85 and a beta of 0.81. The company has a quick ratio of 2.40, a current ratio of 3.28 and a debt-to-equity ratio of 0.14. The company’s fifty day moving average is $81.01 and its 200 day moving average is $67.15.

Oil-Dri Corporation Of America (NYSE:ODC) last released its quarterly earnings data 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 company had revenue of $126.33 million during the quarter. During the same quarter in the prior year, the firm earned $0.80 earnings per share.

Oil-Dri Corporation Of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 7th. This is a positive change from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.20. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is presently 23.14%.

Insiders Place Their Bets

In related news, 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 completion of the sale, the director directly owned 8,930 shares of the company’s stock, valued at approximately $652,425.80. This represents a 13.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.69% of the company’s stock.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Several institutional investors and hedge funds have recently modified their holdings of ODC. Russell Investments Group Ltd. raised its holdings 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 valued at $30,000 after buying an additional 183 shares during the period. Raymond James Financial Inc. acquired a new position in Oil-Dri Corporation Of America during the 2nd quarter worth approximately $45,000. Fifth Third Bancorp purchased a new position in Oil-Dri Corporation Of America in the 1st quarter worth approximately $54,000. Legal & General Group Plc boosted its holdings in Oil-Dri Corporation Of America by 20.1% in the 2nd quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company’s stock worth $63,000 after acquiring an additional 178 shares during the period. Finally, State of Alaska Department of Revenue grew its position in Oil-Dri Corporation Of America by 361.7% in the fourth quarter. State of Alaska Department of Revenue now owns 1,879 shares of the specialty chemicals company’s stock valued at $91,000 after acquiring an additional 1,472 shares in the last quarter. Hedge funds and other institutional investors own 49.01% of the company’s stock.

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.