Bank of New York Mellon Corp Purchases New Holdings in Oil-Dri Corporation Of America $ODC

Key Points

• Bank of New York Mellon purchased 93,682 shares of Oil-Dri Corporation of America, valued at approximately $9.6 million, representing about 0.65% of the company. Institutional investors collectively own 49.01% of ODC.
• Analyst sentiment remains positive, with MarketBeat reporting an average “Buy” rating despite Wall Street Zen downgrading the stock from “strong-buy” to “buy.”
• ODC reported quarterly EPS of $1.00 on revenue of $126.33 million, compared with $0.80 EPS in the year-earlier period. The stock opened at $90.89, versus a 12-month range of $45.61 to $107.00.

Bank of New York Mellon Corp purchased a new position in shares of Oil-Dri Corporation Of America (NYSE:ODC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 93,682 shares of the specialty chemicals company's stock, valued at approximately $9,575,000. Bank of New York Mellon Corp owned approximately 0.65% of Oil-Dri Corporation Of America at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ODC. State of Wyoming acquired a new stake in shares of Oil-Dri Corporation Of America during the 2nd quarter worth $371,000. Bank of America Corp DE raised its position in shares of Oil-Dri Corporation Of America by 20.8% in the 1st quarter. Bank of America Corp DE now owns 14,223 shares of the specialty chemicals company's stock valued at $926,000 after buying an additional 2,445 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Oil-Dri Corporation Of America in the 1st quarter valued at approximately $259,000. Quantinno Capital Management LP lifted its holdings in shares of Oil-Dri Corporation Of America by 16.4% during the 1st quarter. Quantinno Capital Management LP now owns 8,944 shares of the specialty chemicals company's stock worth $582,000 after acquiring an additional 1,259 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Oil-Dri Corporation Of America by 17.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 85,264 shares of the specialty chemicals company's stock worth $5,550,000 after acquiring an additional 12,462 shares in the last quarter. Institutional investors own 49.01% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on ODC. Wall Street Zen downgraded shares of Oil-Dri Corporation Of America from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a "buy (b)" rating on shares of Oil-Dri Corporation Of America in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy".

Oil-Dri Corporation Of America Price Performance

ODC stock opened at $90.89 on Thursday. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 23.37 and a beta of 0.77. Oil-Dri Corporation Of America has a 12-month low of $45.61 and a 12-month high of $107.00. The company's fifty day simple moving average is $96.37 and its 200 day simple moving average is $81.57. The company has a quick ratio of 2.40, a current ratio of 3.28 and a debt-to-equity ratio of 0.14.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last released its quarterly earnings data on Monday, June 8th. The specialty chemicals company reported $1.00 earnings per share 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 EPS.

Oil-Dri Corporation Of America Company Profile

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.

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