Bard Associates Inc. Increases Stock Position 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. boosted its holdings in Oil-Dri Corporation Of America (NYSE:ODC - Free Report) by 97.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,881 shares of the specialty chemicals company's stock after acquiring an additional 56,177 shares during the quarter. Oil-Dri Corporation Of America accounts for about 2.0% of Bard Associates Inc.'s investment portfolio, making the stock its 8th biggest position. Bard Associates Inc. owned about 0.78% of Oil-Dri Corporation Of America worth $5,229,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted 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 worth $28,112,000 after purchasing an additional 333,053 shares during the period. Royce & Associates LP raised its stake in Oil-Dri Corporation Of America by 102.4% in 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. Bank of New York Mellon Corp raised its stake in Oil-Dri Corporation Of America by 103.3% in 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. Cardinal Capital Management increased its holdings in Oil-Dri Corporation Of America by 99.9% in the 1st quarter. Cardinal Capital Management now owns 95,433 shares of the specialty chemicals company's stock valued at $4,382,000 after buying an additional 47,683 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its holdings in shares of Oil-Dri Corporation Of America by 42.1% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 139,092 shares of the specialty chemicals company's stock valued at $6,387,000 after purchasing an additional 41,212 shares during the last quarter. 49.01% of the stock is owned by institutional investors.

Oil-Dri Corporation Of America Stock Up 3.3%

Shares of Oil-Dri Corporation Of America stock traded up $1.93 during trading on Tuesday, reaching $60.06. 20,361 shares of the company traded hands, compared to its average volume of 46,765. 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 company has a 50 day moving average price of $57.87 and a 200-day moving average price of $49.39. Oil-Dri Corporation Of America has a 1-year low of $31.40 and a 1-year high of $63.82. The firm has a market capitalization of $879.21 million, a PE ratio of 17.66 and a beta of 0.67.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last posted 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 during the quarter.

Oil-Dri Corporation Of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, August 8th. This is an increase from Oil-Dri Corporation Of America's previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.2%. Oil-Dri Corporation Of America's dividend payout ratio (DPR) is currently 21.18%.

Analysts Set New Price Targets

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

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 sale, the director directly 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 through the SEC website. Also, Director Amy Ryan sold 1,000 shares of the firm'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 directly owned 2,900 shares in the company, valued at $175,798. This represents a 25.64% 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. 11.66% of the stock is owned by company insiders.

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.