Spark Investment Management LLC Has $246,000 Stake in Oil-Dri Corporation Of America (ODC)
Spark Investment Management LLC continued to hold its position in Oil-Dri Corporation Of America (NYSE:ODC) during the second quarter, Holdings Channel reports. The institutional investor owned 5,873 shares of the specialty chemicals company’s stock at the end of the second quarter. Spark Investment Management LLC’s holdings in Oil-Dri Corporation Of America were worth $246,000 at the end of the most recent reporting period.
Separately, Russell Investments Group Ltd. boosted its position in Oil-Dri Corporation Of America by 16.1% in the second quarter. Russell Investments Group Ltd. now owns 9,911 shares of the specialty chemicals company’s stock worth $417,000 after buying an additional 1,377 shares during the last quarter. 54.13% of the stock is owned by institutional investors and hedge funds.
Shares of Oil-Dri Corporation Of America (NYSE ODC) opened at 40.40 on Wednesday. The company has a market capitalization of $294.76 million, a price-to-earnings ratio of 20.17 and a beta of 1.08. The firm’s 50-day moving average price is $41.47 and its 200-day moving average price is $38.13. Oil-Dri Corporation Of America has a 12 month low of $31.35 and a 12 month high of $43.84.
Oil-Dri Corporation Of America (NYSE:ODC) last released its quarterly earnings results on Wednesday, June 7th. The specialty chemicals company reported $0.44 EPS for the quarter. Oil-Dri Corporation Of America had a return on equity of 12.39% and a net margin of 5.63%. The business had revenue of $64.75 million during the quarter.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a dividend of $0.23 per share. This is a positive change from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Wednesday, August 16th. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is currently 43.56%.
Separately, BidaskClub cut Oil-Dri Corporation Of America from a “sell” rating to a “strong sell” rating in a report on Monday.
In other news, Director Allan H. Selig purchased 1,000 shares of the stock in a transaction dated Friday, July 21st. The stock was acquired at an average cost of $43.51 per share, for a total transaction of $43,510.00. Following the completion of the transaction, the director now directly owns 30,500 shares in the company, valued at approximately $1,327,055. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 13.86% of the company’s stock.
Oil-Dri Corporation Of America Company Profile
Oil-Dri Corporation of America is engaged in developing, manufacturing and/or marketing sorbent products. The Company operates through two segments: Retail and Wholesale Products Group, and Business to Business Products Group. The Retail and Wholesale Products Group’s customers include mass merchandisers, wholesale clubs, drugstore chains, dollar stores, distributors of industrial cleanup and automotive products, environmental service companies and sports field product users.
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