Forum Financial Management LP Buys 6,515 Shares of Oil-Dri Corporation Of America (NYSE:ODC)

Forum Financial Management LP lifted its stake in Oil-Dri Corporation Of America (NYSE:ODC - Free Report) by 100.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,030 shares of the specialty chemicals company's stock after purchasing an additional 6,515 shares during the quarter. Forum Financial Management LP owned 0.09% of Oil-Dri Corporation Of America worth $598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of ODC. Allspring Global Investments Holdings LLC raised its stake in shares of Oil-Dri Corporation Of America by 87.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,876 shares of the specialty chemicals company's stock worth $775,000 after purchasing an additional 7,863 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Oil-Dri Corporation Of America by 97.6% during the 1st quarter. Rhumbline Advisers now owns 14,518 shares of the specialty chemicals company's stock valued at $667,000 after purchasing an additional 7,172 shares during the period. New York State Teachers Retirement System grew its stake 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 valued at $41,000 after purchasing an additional 441 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Oil-Dri Corporation Of America by 94.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,567 shares of the specialty chemicals company's stock valued at $807,000 after purchasing an additional 8,542 shares during the period. Finally, Miracle Mile Advisors LLC grew its stake in shares of Oil-Dri Corporation Of America by 100.0% during the 1st quarter. Miracle Mile Advisors LLC now owns 28,000 shares of the specialty chemicals company's stock valued at $1,286,000 after purchasing an additional 14,000 shares during the period. Hedge funds and other institutional investors own 49.01% of the company's stock.

Insider Buying and Selling at Oil-Dri Corporation Of America

In other news, Director Ellen-Blair Chube sold 2,500 shares of the business's 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 transaction, the director owned 9,320 shares of the company's stock, valued at approximately $520,335.60. The trade was a 21.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 11.66% of the company's stock.

Oil-Dri Corporation Of America Stock Performance

ODC traded up $0.44 during midday trading on Monday, reaching $61.91. The company had a trading volume of 18,886 shares, compared to its average volume of 42,471. The company has a quick ratio of 1.85, a current ratio of 2.83 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average of $54.72 and a two-hundred day moving average of $47.63. The company has a market cap of $906.36 million, a P/E ratio of 18.21 and a beta of 0.65. Oil-Dri Corporation Of America has a 1 year low of $30.95 and a 1 year high of $63.82.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The specialty chemicals company reported $0.80 earnings per share for the quarter. The business 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 announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.16%. This is an increase from Oil-Dri Corporation Of America's previous quarterly dividend of $0.16. Oil-Dri Corporation Of America's payout ratio is currently 18.24%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Oil-Dri Corporation Of America from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 22nd.

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.