Oil-Dri Corporation Of America $ODC Shares Purchased by Martingale Asset Management L P

Key Points

• Martingale Asset Management L.P. increased its holdings in Oil-Dri Corporation Of America by 143.6%, owning 12,240 shares valued at $562,000 after acquiring an additional 7,215 shares in Q1.
• Insider transactions show significant selling activity, with directors and executives selling a total of 6,000 shares worth approximately $354,570 over the last 90 days.
• Oil-Dri Corporation Of America recently raised its quarterly dividend to $0.18 per share, increasing the annualized yield to 1.2%.

Martingale Asset Management L P boosted its holdings in Oil-Dri Corporation Of America (NYSE:ODC - Free Report) by 143.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,240 shares of the specialty chemicals company's stock after purchasing an additional 7,215 shares during the period. Martingale Asset Management L P owned about 0.08% of Oil-Dri Corporation Of America worth $562,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ODC. Trust Co. of Vermont boosted its holdings in Oil-Dri Corporation Of America by 100.0% in the first quarter. Trust Co. of Vermont now owns 600 shares of the specialty chemicals company's stock valued at $28,000 after purchasing an additional 300 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Oil-Dri Corporation Of America by 98.0% in the first 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 last quarter. Quantbot Technologies LP purchased a new position in Oil-Dri Corporation Of America in the first quarter valued at about $105,000. GAMMA Investing LLC boosted its holdings in Oil-Dri Corporation Of America by 9,083.3% in the first quarter. GAMMA Investing LLC now owns 2,755 shares of the specialty chemicals company's stock valued at $127,000 after purchasing an additional 2,725 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in Oil-Dri Corporation Of America in the first quarter valued at about $131,000. Hedge funds and other institutional investors own 49.01% of the company's stock.

Oil-Dri Corporation Of America Stock Performance

NYSE:ODC traded up $0.54 during trading hours on Thursday, reaching $59.13. 54,180 shares of the stock were exchanged, compared to its average volume of 74,248. 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 firm has a 50 day simple moving average of $58.87 and a 200-day simple moving average of $50.80. Oil-Dri Corporation Of America has a 52 week low of $32.06 and a 52 week high of $63.82. The stock has a market capitalization of $865.59 million, a P/E ratio of 17.39 and a beta of 0.67.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last announced 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 for 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 declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, August 8th. This is a positive change 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%.

Analysts Set New Price Targets

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

Insider Transactions at Oil-Dri Corporation Of America

In other news, Director Ellen-Blair Chube sold 2,500 shares of the 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 in the company, valued at approximately $520,335.60. This represents a 21.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher B. Lamson sold 2,500 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $61.75, for a total value of $154,375.00. Following the sale, the vice president owned 11,453 shares in the company, valued at $707,222.75. The trade was a 17.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,000 shares of company stock worth $354,570. 11.66% of the stock is currently owned by company insiders.

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.