Allspring Global Investments Holdings LLC Raises Stake in Oil-Dri Corporation Of America $ODC

Key Points

• Allspring Global Investments Holdings LLC has increased its stake in Oil-Dri Corporation by 244.6%, owning 58,152 shares valued at approximately $3.43 million as of the latest SEC filing.
• Oil-Dri Corporation announced a quarterly dividend of $0.18 per share, with a dividend yield of 1.2%, payable on November 21st for stockholders of record on November 7th.
• Wall Street analysts have upgraded Oil-Dri Corporation from a "buy" to a "strong-buy" rating, signaling confidence in the company's growth potential.

Allspring Global Investments Holdings LLC boosted its position in Oil-Dri Corporation Of America (NYSE:ODC - Free Report) by 244.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,152 shares of the specialty chemicals company's stock after buying an additional 41,276 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.40% of Oil-Dri Corporation Of America worth $3,430,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ODC. Trust Co. of Vermont lifted its holdings in Oil-Dri Corporation Of America by 100.0% in the first quarter. Trust Co. of Vermont now owns 600 shares of the specialty chemicals company's stock valued at $28,000 after acquiring an additional 300 shares during the period. MAI Capital Management lifted its holdings in Oil-Dri Corporation Of America by 100.0% in the first quarter. MAI Capital Management now owns 600 shares of the specialty chemicals company's stock valued at $28,000 after acquiring an additional 300 shares during the period. New York State Teachers Retirement System lifted its holdings in Oil-Dri Corporation Of America by 98.0% in the first quarter. New York State Teachers Retirement System now owns 891 shares of the specialty chemicals company's stock valued at $41,000 after acquiring an additional 441 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Oil-Dri Corporation Of America by 100.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,160 shares of the specialty chemicals company's stock valued at $53,000 after acquiring an additional 580 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Oil-Dri Corporation Of America in the first quarter valued at approximately $105,000. 49.01% of the stock is owned by institutional investors and hedge funds.

Oil-Dri Corporation Of America Trading Down 1.6%

Shares of ODC stock opened at $59.03 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.56 and a quick ratio of 1.82. The company has a market cap of $864.20 million, a price-to-earnings ratio of 15.93 and a beta of 0.70. The stock has a 50 day simple moving average of $61.82 and a 200-day simple moving average of $55.38. Oil-Dri Corporation Of America has a 1-year low of $33.46 and a 1-year high of $69.75.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last announced its earnings results on Thursday, October 9th. The specialty chemicals company reported $0.89 earnings per share for the quarter. The business had revenue of $125.21 million during the quarter. Oil-Dri Corporation Of America had a return on equity of 22.36% and a net margin of 11.12%.

Oil-Dri Corporation Of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Friday, November 7th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, November 7th. Oil-Dri Corporation Of America's dividend payout ratio is presently 19.46%.

Insider Buying and Selling at Oil-Dri Corporation Of America

In other news, Director Amy Ryan sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $60.62, for a total transaction of $60,620.00. Following the completion of the transaction, the director directly owned 2,900 shares of the company's stock, valued at $175,798. This represents a 25.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 11.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ODC shares. Wall Street Zen raised Oil-Dri Corporation Of America from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 11th. Weiss Ratings reissued a "buy (b)" rating on shares of Oil-Dri Corporation Of America in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy".

Oil-Dri Corporation Of America Profile

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.

Want to see what other hedge funds are holding ODC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oil-Dri Corporation Of America (NYSE:ODC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.