Bard Associates Inc. Boosts Stock Holdings in Oil-Dri Corporation Of America (NYSE:ODC)

Key Points

• Bard Associates Inc. significantly increased its stake in Oil-Dri Corporation Of America by 97.4%, owning approximately 0.78% of the company valued at $5.23 million.
• Oil-Dri Corporation Of America recently raised its quarterly dividend from $0.16 to $0.18 per share, representing a yield of 1.3%.
• Despite fluctuating share performance, the company reported EPS of $0.80 and revenue of $115.50 million last quarter.

Bard Associates Inc. grew its position in Oil-Dri Corporation Of America (NYSE:ODC - Free Report) by 97.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,881 shares of the specialty chemicals company's stock after buying an additional 56,177 shares during the quarter. Oil-Dri Corporation Of America accounts for 2.0% of Bard Associates Inc.'s holdings, making the stock its 8th largest holding. Bard Associates Inc. owned approximately 0.78% of Oil-Dri Corporation Of America worth $5,229,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ODC. Trust Co. of Vermont increased its position in Oil-Dri Corporation Of America by 100.0% during the 1st quarter. Trust Co. of Vermont now owns 600 shares of the specialty chemicals company's stock worth $28,000 after purchasing an additional 300 shares during the period. New York State Teachers Retirement System raised its position in shares of Oil-Dri Corporation Of America by 98.0% in the 1st quarter. New York State Teachers Retirement System now owns 891 shares of the specialty chemicals company's stock worth $41,000 after buying an additional 441 shares during the period. GAMMA Investing LLC raised its position 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 period. Harbor Capital Advisors Inc. purchased a new position in Oil-Dri Corporation Of America in the first quarter valued at about $131,000. Finally, New York State Common Retirement Fund increased its position in shares of Oil-Dri Corporation Of America by 100.0% during the first quarter. New York State Common Retirement Fund now owns 4,082 shares of the specialty chemicals company's stock worth $187,000 after acquiring an additional 2,041 shares during the last quarter. 49.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Oil-Dri Corporation Of America

In related news, Director Ellen-Blair Chube sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $55.83, for a total value of $139,575.00. Following the completion of the sale, the director 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Christopher B. Lamson sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $61.75, for a total transaction of $154,375.00. Following the completion of the transaction, the vice president directly owned 11,453 shares in the company, valued at approximately $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. Over the last 90 days, insiders sold 6,000 shares of company stock worth $354,570. Company insiders own 11.66% of the company's stock.

Wall Street Analysts Forecast Growth

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

Oil-Dri Corporation Of America Stock Performance

Shares of NYSE ODC traded up $1.01 during midday trading on Friday, hitting $57.83. 69,058 shares of the company's stock were exchanged, compared to its average volume of 68,830. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.83 and a quick ratio of 1.85. The stock's 50 day moving average price is $57.71 and its 200-day moving average price is $49.24. The firm has a market cap of $846.63 million, a P/E ratio of 17.01 and a beta of 0.67. Oil-Dri Corporation Of America has a twelve month low of $31.11 and a twelve month high of $63.82.

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 company had revenue of $115.50 million for the quarter.

Oil-Dri Corporation Of America Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be paid a $0.18 dividend. The ex-dividend date is Friday, August 8th. This is a boost from Oil-Dri Corporation Of America's previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. Oil-Dri Corporation Of America's dividend payout ratio is 18.24%.

Oil-Dri Corporation Of America 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.