Oil-Dri Corporation Of America $ODC Holdings Lifted by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Oil-Dri Corporation Of America by 126.4%, acquiring an additional 184,844 shares during the 1st quarter, bringing its total ownership to approximately 2.27% of the company.
• Oil-Dri Corporation Of America recently announced a dividend increase, raising its quarterly dividend from $0.16 to $0.18, which represents a 1.2% yield.
• Institutional investors now own 49.01% of Oil-Dri Corporation Of America's stock, reflecting strong interest from various hedge funds and investment firms.

American Century Companies Inc. grew its stake in Oil-Dri Corporation Of America (NYSE:ODC - Free Report) by 126.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 331,083 shares of the specialty chemicals company's stock after purchasing an additional 184,844 shares during the period. American Century Companies Inc. owned about 2.27% of Oil-Dri Corporation Of America worth $15,203,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its stake in Oil-Dri Corporation Of America by 87.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,876 shares of the specialty chemicals company's stock valued at $775,000 after purchasing an additional 7,863 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Oil-Dri Corporation Of America by 97.6% in the 1st quarter. Rhumbline Advisers now owns 14,518 shares of the specialty chemicals company's stock worth $667,000 after acquiring an additional 7,172 shares during the last quarter. Informed Momentum Co LLC acquired a new stake in shares of Oil-Dri Corporation Of America during the 1st quarter worth about $915,000. New York State Teachers Retirement System increased its position in shares of Oil-Dri Corporation Of America by 98.0% during the 1st quarter. New York State Teachers Retirement System now owns 891 shares of the specialty chemicals company's stock worth $41,000 after purchasing an additional 441 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Oil-Dri Corporation Of America by 103.3% during the 1st quarter. Bank of New York Mellon Corp now owns 97,052 shares of the specialty chemicals company's stock worth $4,457,000 after purchasing an additional 49,312 shares during the last quarter. Hedge funds and other institutional investors own 49.01% of the company's stock.

Oil-Dri Corporation Of America Stock Performance

Shares of NYSE ODC traded up $0.21 during mid-day trading on Friday, hitting $59.32. 34,322 shares of the company were exchanged, compared to its average volume of 74,920. The firm has a market cap of $868.50 million, a price-to-earnings ratio of 17.45 and a beta of 0.67. The company has a quick ratio of 1.85, a current ratio of 2.83 and a debt-to-equity ratio of 0.16. Oil-Dri Corporation Of America has a 1-year low of $32.06 and a 1-year high of $63.82. The stock has a 50 day simple moving average of $58.91 and a 200-day simple moving average of $50.97.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The specialty chemicals company reported $0.80 earnings per share (EPS) for the quarter. The firm had revenue of $115.50 million during the quarter. Oil-Dri Corporation Of America had a return on equity of 21.57% and a net margin of 10.44%.

Oil-Dri Corporation Of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Oil-Dri Corporation Of America's previous quarterly dividend of $0.16. Oil-Dri Corporation Of America's dividend payout ratio is currently 21.18%.

Insider Transactions at Oil-Dri Corporation Of America

In other Oil-Dri Corporation Of America news, Director Ellen-Blair Chube sold 2,500 shares of Oil-Dri Corporation Of America stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $55.83, for a total transaction of $139,575.00. Following the sale, the director directly owned 9,320 shares in the company, valued at $520,335.60. The trade was a 21.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy Ryan sold 1,000 shares of Oil-Dri Corporation Of America stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $60.62, for a total value of $60,620.00. Following the completion of the transaction, the director owned 2,900 shares of the company's stock, valued at approximately $175,798. The trade was a 25.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,000 shares of company stock worth $354,570 in the last three months. 11.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, 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 22nd.

About Oil-Dri Corporation Of America

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.