Miracle Mile Advisors LLC lifted its stake in Oil-Dri Co. of America (NYSE:ODC - Free Report) by 100.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,000 shares of the specialty chemicals company's stock after buying an additional 14,000 shares during the quarter. Miracle Mile Advisors LLC owned approximately 0.19% of Oil-Dri Co. of America worth $1,286,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. Victory Capital Management Inc. raised its stake in Oil-Dri Co. of America by 17.8% during the fourth quarter. Victory Capital Management Inc. now owns 26,793 shares of the specialty chemicals company's stock worth $2,348,000 after purchasing an additional 4,050 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Oil-Dri Co. of America by 18.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,500 shares of the specialty chemicals company's stock worth $570,000 after acquiring an additional 1,000 shares in the last quarter. Royce & Associates LP grew its holdings in Oil-Dri Co. of America by 2.5% during the 4th quarter. Royce & Associates LP now owns 166,000 shares of the specialty chemicals company's stock worth $14,548,000 after acquiring an additional 4,000 shares in the last quarter. American Century Companies Inc. grew its holdings in Oil-Dri Co. of America by 11.5% during the 4th quarter. American Century Companies Inc. now owns 146,239 shares of the specialty chemicals company's stock worth $12,816,000 after acquiring an additional 15,041 shares in the last quarter. Finally, LPL Financial LLC purchased a new stake in shares of Oil-Dri Co. of America during the 4th quarter worth approximately $235,000. Hedge funds and other institutional investors own 49.01% of the company's stock.
Oil-Dri Co. of America Stock Performance
ODC traded down $1.25 during trading on Friday, hitting $56.29. The stock had a trading volume of 33,957 shares, compared to its average volume of 41,176. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.61 and a current ratio of 2.63. The firm has a market capitalization of $821.48 million, a P/E ratio of 18.19 and a beta of 0.62. The company's 50-day moving average price is $46.59 and its 200 day moving average price is $41.70. Oil-Dri Co. of America has a twelve month low of $29.47 and a twelve month high of $60.57.
Oil-Dri Co. of America (NYSE:ODC - Get Free Report) last posted 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 Co. of America had a net margin of 9.92% and a return on equity of 21.84%.
Oil-Dri Co. of America Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.28%. This is a positive change from Oil-Dri Co. of America's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, August 8th. Oil-Dri Co. of America's dividend payout ratio is 21.18%.
Insider Transactions at Oil-Dri Co. of America
In other Oil-Dri Co. of America news, Director Ellen-Blair Chube sold 3,500 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $42.51, for a total value of $148,785.00. Following the completion of the sale, the director now owns 11,820 shares of the company's stock, valued at $502,468.20. This trade represents a 22.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.66% of the company's stock.
Analysts Set New Price Targets
Separately, Wall Street Zen upgraded shares of Oil-Dri Co. of America from a "hold" rating to a "buy" rating in a research report on Monday, April 28th.
Check Out Our Latest Stock Report on Oil-Dri Co. of America
Oil-Dri Co. of America Company Profile
(
Free Report)
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.
Further Reading
Before you consider Oil-Dri Co. of America, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Oil-Dri Co. of America wasn't on the list.
While Oil-Dri Co. of America currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
