Invesco Ltd. Buys 6,222 Shares of Oil-Dri Corporation Of America $ODC

Key Points

• Invesco Ltd. increased its stake in Oil-Dri Corporation of America by 89.9%, owning a total of 13,146 shares valued at approximately $604,000.
• Multiple institutional investors have also increased their holdings in Oil-Dri, with Vanguard Group growing its stake by 119.3% to 612,195 shares worth $28.1 million.
• Wall Street analysts downgraded Oil-Dri from a "strong-buy" to a "buy" rating, indicating a shift in sentiment regarding the company's stock performance.

Invesco Ltd. boosted its stake in Oil-Dri Corporation Of America (NYSE:ODC - Free Report) by 89.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 13,146 shares of the specialty chemicals company's stock after buying an additional 6,222 shares during the period. Invesco Ltd. owned approximately 0.09% of Oil-Dri Corporation Of America worth $604,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of ODC. Vanguard Group Inc. grew its stake in Oil-Dri Corporation Of America by 119.3% in the 1st quarter. Vanguard Group Inc. now owns 612,195 shares of the specialty chemicals company's stock valued at $28,112,000 after buying an additional 333,053 shares during the last quarter. Royce & Associates LP grew its position in shares of Oil-Dri Corporation Of America by 102.4% during the 1st quarter. Royce & Associates LP now owns 336,000 shares of the specialty chemicals company's stock worth $15,429,000 after purchasing an additional 170,000 shares in the last quarter. Bard Associates Inc. grew its position in shares of 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. Bank of New York Mellon Corp grew its position in shares of Oil-Dri Corporation Of America by 103.3% during the 1st quarter. Bank of New York Mellon Corp now owns 97,052 shares of the specialty chemicals company's stock worth $4,457,000 after purchasing an additional 49,312 shares in the last quarter. Finally, Cardinal Capital Management grew its position in shares of Oil-Dri Corporation Of America by 99.9% during the 1st quarter. Cardinal Capital Management now owns 95,433 shares of the specialty chemicals company's stock worth $4,382,000 after purchasing an additional 47,683 shares in the last quarter. Institutional investors and hedge funds own 49.01% of the company's stock.

Analyst Upgrades and Downgrades

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.

Oil-Dri Corporation Of America Stock Performance

Shares of NYSE:ODC traded down $0.49 on Friday, reaching $63.87. 50,269 shares of the company's stock were exchanged, compared to its average volume of 73,769. The company has a fifty day moving average of $59.29 and a 200-day moving average of $51.62. Oil-Dri Corporation Of America has a twelve month low of $32.06 and a twelve month high of $65.03. The company has a market capitalization of $935.06 million, a price-to-earnings ratio of 18.79 and a beta of 0.69. 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 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 for the quarter.

Insider Transactions at Oil-Dri Corporation Of America

In other news, Director Amy Ryan sold 1,000 shares of the company's 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 completion of the sale, the director owned 2,900 shares of the company's stock, valued at approximately $175,798. This represents a 25.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ellen-Blair Chube sold 2,500 shares of the company'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 sale, the director directly owned 9,320 shares of the company's stock, valued at approximately $520,335.60. This trade represents a 21.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,000 shares of company stock valued at $354,570. Company insiders own 11.66% of the company's stock.

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.