Informed Momentum Co LLC Takes $915,000 Position in Oil-Dri Corporation Of America (NYSE:ODC)

Key Points

• Informed Momentum Co LLC invested approximately $915,000 in Oil-Dri Corporation Of America, acquiring 19,928 shares, which represents about 0.14% of the company.
• Multiple institutional investors have dramatically increased their stakes in Oil-Dri, with some like Allspring Global Investments Holdings LLC boosting their holdings by as much as 87.2%.
• Oil-Dri Corporation Of America has announced an increase in its quarterly dividend to $0.18, set to be paid to shareholders on August 22, indicating a positive shift in its financial strategy.

Informed Momentum Co LLC purchased a new stake in shares of Oil-Dri Corporation Of America (NYSE:ODC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 19,928 shares of the specialty chemicals company's stock, valued at approximately $915,000. Informed Momentum Co LLC owned 0.14% of Oil-Dri Corporation Of America at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ODC. LPL Financial LLC bought a new position in shares of Oil-Dri Corporation Of America during the 4th quarter valued at $235,000. JPMorgan Chase & Co. lifted its holdings in shares of Oil-Dri Corporation Of America by 238.0% during the 4th quarter. JPMorgan Chase & Co. now owns 8,116 shares of the specialty chemicals company's stock valued at $711,000 after buying an additional 5,715 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Oil-Dri Corporation Of America by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 112,183 shares of the specialty chemicals company's stock valued at $9,834,000 after buying an additional 352 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Oil-Dri Corporation Of America by 2.4% during the 4th quarter. Wells Fargo & Company MN now owns 24,894 shares of the specialty chemicals company's stock valued at $2,182,000 after buying an additional 594 shares during the period. Finally, Barclays PLC raised its holdings 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 owned by institutional investors.

Oil-Dri Corporation Of America Stock Performance

Oil-Dri Corporation Of America stock traded down $0.89 during trading on Friday, reaching $59.23. The company had a trading volume of 124,470 shares, compared to its average volume of 61,497. Oil-Dri Corporation Of America has a 52 week low of $32.06 and a 52 week high of $63.82. The firm's 50-day simple moving average is $58.60 and its 200 day simple moving average is $49.84. The firm has a market capitalization of $867.13 million, a price-to-earnings ratio of 17.42 and a beta of 0.67. The company has a current ratio of 2.83, a quick ratio of 1.85 and a debt-to-equity ratio of 0.16.

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

Oil-Dri Corporation Of America Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be issued a dividend of $0.18 per share. This is a boost from Oil-Dri Corporation Of America's previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 8th. Oil-Dri Corporation Of America's payout ratio is 21.18%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Oil-Dri Corporation Of America

In other Oil-Dri Corporation Of America news, Director Ellen-Blair Chube sold 2,500 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $55.83, for a total transaction of $139,575.00. Following the sale, the director directly owned 9,320 shares of the company's stock, valued at $520,335.60. This trade represents a 21.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher B. Lamson sold 2,500 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $61.75, for a total value of $154,375.00. Following the sale, the vice president directly owned 11,453 shares in the company, valued at approximately $707,222.75. This represents a 17.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,000 shares of company stock valued at $354,570 over the last ninety days. 11.66% of the stock is currently owned by company insiders.

Oil-Dri Corporation Of America Company 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.