Barnett & Company Inc. Makes New $271,000 Investment in Oil-Dri Corporation Of America (NYSE:ODC)

Key Points

• Barnett & Company Inc. has acquired a new stake in Oil-Dri Corporation Of America, purchasing 5,900 shares valued at approximately $271,000.
• Several institutional investors, including Invesco Ltd. and Deutsche Bank AG, have significantly increased their holdings in Oil-Dri Corporation during the first quarter.
• Oil-Dri Corporation announced a quarterly dividend increase from $0.16 to $0.18 per share, reflecting an annualized yield of 1.2%.

Barnett & Company Inc. acquired a new position in shares of Oil-Dri Corporation Of America (NYSE:ODC - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 5,900 shares of the specialty chemicals company's stock, valued at approximately $271,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ODC. Invesco Ltd. increased its position in Oil-Dri Corporation Of America by 89.9% during the first quarter. Invesco Ltd. now owns 13,146 shares of the specialty chemicals company's stock worth $604,000 after buying an additional 6,222 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Oil-Dri Corporation Of America by 32.3% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,598 shares of the specialty chemicals company's stock worth $395,000 after purchasing an additional 2,098 shares in the last quarter. Bard Associates Inc. increased its position in Oil-Dri Corporation Of America by 97.4% during the 1st quarter. Bard Associates Inc. now owns 113,881 shares of the specialty chemicals company's stock worth $5,229,000 after purchasing an additional 56,177 shares in the last quarter. Deutsche Bank AG raised its stake in Oil-Dri Corporation Of America by 216.8% in the 1st quarter. Deutsche Bank AG now owns 4,866 shares of the specialty chemicals company's stock valued at $223,000 after purchasing an additional 3,330 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Oil-Dri Corporation Of America by 108.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 28,353 shares of the specialty chemicals company's stock valued at $1,302,000 after purchasing an additional 14,740 shares in the last quarter. Hedge funds and other institutional investors own 49.01% of the company's stock.

Oil-Dri Corporation Of America Trading Up 0.7%

NYSE ODC traded up $0.42 during trading hours on Wednesday, hitting $61.37. 26,089 shares of the company's stock were exchanged, compared to its average volume of 46,846. Oil-Dri Corporation Of America has a 12-month low of $31.40 and a 12-month high of $63.82. The business's 50 day moving average is $58.08 and its 200-day moving average is $49.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.85 and a current ratio of 2.83. The firm has a market capitalization of $898.38 million, a P/E ratio of 18.14 and a beta of 0.67.

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

Oil-Dri Corporation Of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 8th. 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 (DPR) is presently 21.18%.

Insider Transactions at Oil-Dri Corporation Of America

In other Oil-Dri Corporation Of America news, VP Christopher B. Lamson sold 2,500 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $61.75, for a total transaction of $154,375.00. Following the completion of the sale, the vice president directly owned 11,453 shares in the company, valued at $707,222.75. The trade was a 17.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy Ryan sold 1,000 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $60.62, for a total value of $60,620.00. Following the completion of the transaction, the director directly owned 2,900 shares in the company, valued at $175,798. This trade represents a 25.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,000 shares of company stock worth $354,570. 11.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Oil-Dri Corporation Of America from a "strong-buy" rating to a "buy" rating in a 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.