Allspring Global Investments Holdings LLC raised its stake in Oil-Dri Corporation Of America (NYSE:ODC - Free Report) by 87.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,876 shares of the specialty chemicals company's stock after purchasing an additional 7,863 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.12% of Oil-Dri Corporation Of America worth $775,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in ODC. Needham Investment Management LLC raised its position in shares of Oil-Dri Corporation Of America by 4.7% in the 4th quarter. Needham Investment Management LLC now owns 280,000 shares of the specialty chemicals company's stock worth $24,539,000 after buying an additional 12,500 shares during the period. Royce & Associates LP increased its position in shares of Oil-Dri Corporation Of America by 2.5% in the fourth quarter. Royce & Associates LP now owns 166,000 shares of the specialty chemicals company's stock worth $14,548,000 after acquiring an additional 4,000 shares in the last quarter. American Century Companies Inc. raised its position in Oil-Dri Corporation Of America by 11.5% in the fourth quarter. American Century Companies Inc. now owns 146,239 shares of the specialty chemicals company's stock valued at $12,816,000 after purchasing an additional 15,041 shares during the period. ProShare Advisors LLC raised its holdings in shares of Oil-Dri Corporation Of America by 6.1% during the 4th quarter. ProShare Advisors LLC now owns 132,412 shares of the specialty chemicals company's stock valued at $11,605,000 after buying an additional 7,606 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Oil-Dri Corporation Of America by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 112,183 shares of the specialty chemicals company's stock worth $9,834,000 after purchasing an additional 352 shares in the last quarter. Institutional investors and hedge funds own 49.01% of the company's stock.
Insider Buying and Selling at Oil-Dri Corporation Of America
In related news, Director Ellen-Blair Chube sold 2,500 shares of Oil-Dri Corporation Of America stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $55.83, for a total value of $139,575.00. Following the sale, the director directly owned 9,320 shares in the company, valued at $520,335.60. This trade represents a 21.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.66% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Separately, Wall Street Zen downgraded Oil-Dri Corporation Of America from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 22nd.
Get Our Latest Analysis on Oil-Dri Corporation Of America
Oil-Dri Corporation Of America Stock Performance
NYSE:ODC traded down $0.24 during trading hours on Friday, reaching $58.29. 90,281 shares of the stock were exchanged, compared to its average volume of 41,665. The company has a quick ratio of 1.85, a current ratio of 2.83 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $853.29 million, a P/E ratio of 17.14 and a beta of 0.65. Oil-Dri Corporation Of America has a 52 week low of $30.95 and a 52 week high of $60.70. The firm has a 50 day simple moving average of $53.12 and a 200-day simple moving average of $46.99.
Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The specialty chemicals company reported $0.80 earnings per share (EPS) for the quarter. The company had revenue of $115.50 million for the quarter. Oil-Dri Corporation Of America had a net margin of 10.44% and a return on equity of 21.57%.
Oil-Dri Corporation Of America Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.24%. This is a positive change from Oil-Dri Corporation Of America's previous quarterly dividend of $0.16. Oil-Dri Corporation Of America's dividend payout ratio is currently 18.24%.
Oil-Dri Corporation Of America Company Profile
(
Free Report)
Oil-Dri Corporation of America is a manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets. It operates through the Business to Business Products Group and Retail and Wholesale Products Group segments.
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