Oil-Dri Corporation Of America $ODC Shares Bought by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. increased its stake in Oil-Dri Corporation by 99.3% during the first quarter, owning approximately 5.48% of the company, valued at $36.7 million.
• Other institutional investors, including Vanguard Group and Royce & Associates, also significantly boosted their positions in Oil-Dri Corporation, highlighting increased institutional interest.
• Oil-Dri Corporation recently increased its quarterly dividend to $0.18 per share, up from $0.16, reflecting a 1.2% dividend yield and a payout ratio of 21.18%.

Gamco Investors INC. ET AL grew its holdings in shares of Oil-Dri Corporation Of America (NYSE:ODC - Free Report) by 99.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 799,112 shares of the specialty chemicals company's stock after buying an additional 398,056 shares during the quarter. Gamco Investors INC. ET AL owned 5.48% of Oil-Dri Corporation Of America worth $36,695,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Trust Co. of Vermont raised its position in shares of Oil-Dri Corporation Of America by 100.0% during the 1st quarter. Trust Co. of Vermont now owns 600 shares of the specialty chemicals company's stock valued at $28,000 after buying an additional 300 shares in the last quarter. New York State Teachers Retirement System raised 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 valued at $41,000 after buying an additional 441 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Oil-Dri Corporation Of America by 100.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,160 shares of the specialty chemicals company's stock valued at $53,000 after buying an additional 580 shares in the last quarter. Millennium Management LLC raised its position in Oil-Dri Corporation Of America by 14.5% in the 4th quarter. Millennium Management LLC now owns 7,175 shares of the specialty chemicals company's stock worth $629,000 after purchasing an additional 909 shares during the period. Finally, Barclays PLC raised its position in Oil-Dri Corporation Of America by 9.5% in the 4th quarter. Barclays PLC now owns 10,666 shares of the specialty chemicals company's stock worth $934,000 after purchasing an additional 923 shares during the period. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

Oil-Dri Corporation Of America Trading Up 0.4%

Oil-Dri Corporation Of America stock traded up $0.21 during midday trading on Friday, reaching $59.32. The stock had a trading volume of 34,322 shares, compared to its average volume of 74,920. 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 52-week low of $32.06 and a 52-week high of $63.82. The firm has a market cap of $868.38 million, a price-to-earnings ratio of 17.45 and a beta of 0.67. The company has a fifty day moving average of $58.91 and a 200 day moving average of $50.97.

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

Oil-Dri Corporation Of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a $0.18 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.72 dividend on an annualized basis and a 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 payout ratio is currently 21.18%.

Insiders Place Their Bets

In other news, Director Amy Ryan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $60.62, for a total transaction of $60,620.00. Following the transaction, the director directly owned 2,900 shares in the company, valued at approximately $175,798. This trade represents a 25.64% 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. Also, Director Ellen-Blair Chube sold 2,500 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were 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 in the company, valued at approximately $520,335.60. This represents a 21.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,000 shares of company stock worth $354,570 in the last three months. Corporate insiders own 11.66% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of 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.