Legal & General Group Plc Takes $1.20 Million Position in Oil-Dri Corporation Of America $ODC

Key Points

• Legal & General Group Plc acquired 11,733 shares of Oil-Dri Corporation of America in the second quarter, valued at approximately $1.20 million and representing 0.08% of the company.
• Several other institutional investors also initiated positions, including Bard Associates with an investment of about $10.1 million. Institutional investors collectively own 49.01% of ODC.
• Oil-Dri reported quarterly EPS of $1.00 on revenue of $126.33 million, up from $0.80 EPS a year earlier; analysts maintain a consensus “Buy” rating despite the stock trading at $87.80.

Legal & General Group Plc bought a new stake in Oil-Dri Corporation Of America (NYSE:ODC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 11,733 shares of the specialty chemicals company's stock, valued at approximately $1,199,000. Legal & General Group Plc owned 0.08% of Oil-Dri Corporation Of America at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new position in Oil-Dri Corporation Of America in the 2nd quarter valued at about $273,000. Algert Global LLC bought a new stake in Oil-Dri Corporation Of America during the 2nd quarter worth approximately $417,000. Quantbot Technologies LP purchased a new stake in shares of Oil-Dri Corporation Of America in the second quarter worth approximately $1,115,000. Bard Associates Inc. bought a new position in shares of Oil-Dri Corporation Of America in the second quarter valued at approximately $10,071,000. Finally, Virtus Advisers LLC bought a new position in shares of Oil-Dri Corporation Of America in the second quarter valued at approximately $294,000. 49.01% of the stock is owned by institutional investors.

Oil-Dri Corporation Of America Price Performance

Shares of Oil-Dri Corporation Of America stock opened at $87.80 on Monday. Oil-Dri Corporation Of America has a 52-week low of $45.61 and a 52-week high of $107.00. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 22.57 and a beta of 0.77. The company has a fifty day moving average of $95.87 and a 200-day moving average of $81.91. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.40 and a current ratio of 3.28.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last released its quarterly earnings data on Monday, June 8th. The specialty chemicals company reported $1.00 EPS for the quarter. Oil-Dri Corporation Of America had a return on equity of 20.53% and a net margin of 11.35%.The firm had revenue of $126.33 million for the quarter. During the same quarter in the prior year, the firm posted $0.80 EPS.

Wall Street Analyst Weigh In

ODC has been the subject of several recent research reports. Wall Street Zen downgraded Oil-Dri Corporation Of America from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Oil-Dri Corporation Of America in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Oil-Dri Corporation Of America presently has a consensus rating of "Buy".

Oil-Dri Corporation Of America Company Profile

Oil-Dri Corporation of America is a specialty materials company that develops, manufactures and markets sorbent and filtration products for industrial, environmental and consumer applications. Its flagship offerings include clay- and diatomaceous earth–based cat litters, calcium silicate absorbents for spill control and cleanup, and purification media designed to remove contaminants from petroleum, chemical and food-processing streams.

Founded in 1941 and headquartered in Chicago, Illinois, the company has evolved from a single-product operation into a diversified provider of mineral- and chemical-based solutions.

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