Bank of New York Mellon Corp Has $4.46 Million Holdings in Oil-Dri Corporation Of America (NYSE:ODC)

Key Points

• Bank of New York Mellon Corp significantly increased its stake in Oil-Dri Corporation Of America by 103.3% during the first quarter, owning approximately 0.66% of the company worth $4,457,000.
• Oil-Dri Corporation recently announced a quarterly dividend increase from $0.16 to $0.18, marking an annualized dividend yield of 1.21%.
• The company's stock is currently trading at $59.31 and has shown strong financial metrics, including a net margin of 10.44% and a return on equity of 21.57%.

Bank of New York Mellon Corp boosted its stake in Oil-Dri Corporation Of America (NYSE:ODC - Free Report) by 103.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,052 shares of the specialty chemicals company's stock after purchasing an additional 49,312 shares during the period. Bank of New York Mellon Corp owned approximately 0.66% of Oil-Dri Corporation Of America worth $4,457,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System increased its holdings in 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 valued at $41,000 after purchasing an additional 441 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Oil-Dri Corporation Of America by 87.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 16,876 shares of the specialty chemicals company's stock valued at $775,000 after acquiring an additional 7,863 shares in the last quarter. Trust Co. of Vermont grew its stake in shares of Oil-Dri Corporation Of America by 100.0% during the first quarter. Trust Co. of Vermont now owns 600 shares of the specialty chemicals company's stock valued at $28,000 after acquiring an additional 300 shares in the last quarter. Cardinal Capital Management grew its stake in shares of Oil-Dri Corporation Of America by 99.9% during the first quarter. Cardinal Capital Management now owns 95,433 shares of the specialty chemicals company's stock valued at $4,382,000 after acquiring an additional 47,683 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Oil-Dri Corporation Of America by 94.6% during the first quarter. Janney Montgomery Scott LLC now owns 17,567 shares of the specialty chemicals company's stock valued at $807,000 after acquiring an additional 8,542 shares in the last quarter. 49.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Oil-Dri Corporation Of America news, Director Ellen-Blair Chube sold 2,500 shares of Oil-Dri Corporation Of America 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 transaction, the director owned 9,320 shares in the company, valued at approximately $520,335.60. The trade was a 21.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher B. Lamson sold 2,500 shares of Oil-Dri Corporation Of America stock in a transaction that occurred on Monday, July 21st. The stock was 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 owned 11,453 shares in the company, valued at approximately $707,222.75. This trade represents a 17.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,000 shares of company stock worth $354,570. 11.66% of the stock is owned by insiders.

Oil-Dri Corporation Of America Stock Performance

Shares of ODC traded up $0.22 during mid-day trading on Tuesday, reaching $57.61. 2,689 shares of the company's stock traded hands, compared to its average volume of 46,211. The business's 50-day moving average price is $56.21 and its 200-day moving average price is $48.37. The stock has a market capitalization of $843.37 million, a P/E ratio of 16.90 and a beta of 0.65. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.85 and a current ratio of 2.83. Oil-Dri Corporation Of America has a 12 month low of $30.99 and a 12 month high of $63.82.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The specialty chemicals company reported $0.80 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 business had revenue of $115.50 million for the quarter.

Oil-Dri Corporation Of America Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given a $0.18 dividend. This is a positive change from Oil-Dri Corporation Of America's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.72 annualized dividend and a yield of 1.25%. Oil-Dri Corporation Of America's payout ratio is 18.24%.

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.