Forum Financial Management LP acquired a new stake in shares of Oil-Dri Co. of America (NYSE:ODC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,515 shares of the specialty chemicals company's stock, valued at approximately $571,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Oil-Dri Co. of America by 12.6% during the third quarter. JPMorgan Chase & Co. now owns 2,401 shares of the specialty chemicals company's stock valued at $166,000 after purchasing an additional 268 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Oil-Dri Co. of America by 973.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,157 shares of the specialty chemicals company's stock worth $189,000 after buying an additional 1,956 shares in the last quarter. Mariner LLC purchased a new position in shares of Oil-Dri Co. of America in the fourth quarter worth about $222,000. Two Sigma Advisers LP purchased a new position in shares of Oil-Dri Co. of America in the fourth quarter worth about $228,000. Finally, LPL Financial LLC purchased a new position in shares of Oil-Dri Co. of America in the fourth quarter worth about $235,000. 49.01% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, Director Ellen-Blair Chube sold 3,500 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $42.51, for a total transaction of $148,785.00. Following the completion of the sale, the director now directly owns 11,820 shares in the company, valued at approximately $502,468.20. This trade represents a 22.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 11.66% of the stock is owned by company insiders.
Analysts Set New Price Targets
Separately, Wall Street Zen raised shares of Oil-Dri Co. of America from a "hold" rating to a "buy" rating in a research note on Monday, April 28th.
Check Out Our Latest Research Report on ODC
Oil-Dri Co. of America Price Performance
Shares of NYSE:ODC traded up $0.32 during midday trading on Friday, hitting $49.91. The company's stock had a trading volume of 8,966 shares, compared to its average volume of 41,058. The business's 50 day simple moving average is $44.88 and its 200 day simple moving average is $39.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.61 and a current ratio of 2.63. The company has a market cap of $728.36 million, a P/E ratio of 16.11 and a beta of 0.54. Oil-Dri Co. of America has a 12-month low of $29.47 and a 12-month high of $50.27.
Oil-Dri Co. of America (NYSE:ODC - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The specialty chemicals company reported $0.89 earnings per share (EPS) for the quarter. Oil-Dri Co. of America had a net margin of 9.92% and a return on equity of 21.84%. The firm had revenue of $116.91 million during the quarter.
Oil-Dri Co. of America Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Friday, May 9th. Oil-Dri Co. of America's payout ratio is currently 19.81%.
About Oil-Dri Co. of America
(
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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