Janney Montgomery Scott LLC lifted its holdings in shares of Oil-Dri Corporation Of America (NYSE:ODC - Free Report) by 94.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,567 shares of the specialty chemicals company's stock after acquiring an additional 8,542 shares during the period. Janney Montgomery Scott LLC owned approximately 0.12% of Oil-Dri Corporation Of America worth $807,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in ODC. Rhumbline Advisers boosted its holdings in Oil-Dri Corporation Of America by 97.6% during the 1st quarter. Rhumbline Advisers now owns 14,518 shares of the specialty chemicals company's stock worth $667,000 after acquiring an additional 7,172 shares during the last quarter. Miracle Mile Advisors LLC boosted its holdings in Oil-Dri Corporation Of America by 100.0% during the first quarter. Miracle Mile Advisors LLC now owns 28,000 shares of the specialty chemicals company's stock worth $1,286,000 after purchasing an additional 14,000 shares during the last quarter. Two Sigma Investments LP bought a new stake in Oil-Dri Corporation Of America in the 4th quarter worth about $522,000. Citadel Advisors LLC bought a new position in shares of Oil-Dri Corporation Of America during the 4th quarter worth approximately $701,000. Finally, GAMMA Investing LLC boosted its stake in shares of Oil-Dri Corporation Of America by 9,083.3% in the 1st quarter. GAMMA Investing LLC now owns 2,755 shares of the specialty chemicals company's stock worth $127,000 after buying an additional 2,725 shares during the last quarter. Institutional investors and hedge funds own 49.01% of the company's stock.
Insiders Place Their Bets
In other news, Director Ellen-Blair Chube sold 3,500 shares of Oil-Dri Corporation Of America stock in a transaction dated 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 transaction, the director owned 11,820 shares in the company, valued at $502,468.20. This trade represents a 22.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 11.66% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
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.
Check Out Our Latest Research Report on ODC
Oil-Dri Corporation Of America Stock Performance
Shares of NYSE:ODC traded up $1.22 during midday trading on Wednesday, reaching $60.21. The company had a trading volume of 77,232 shares, compared to its average volume of 41,307. The stock has a market cap of $881.53 million, a P/E ratio of 17.35 and a beta of 0.65. The company's 50 day moving average price is $50.78 and its 200 day moving average price is $45.51. The company has a current ratio of 2.83, a quick ratio of 1.85 and a debt-to-equity ratio of 0.16. Oil-Dri Corporation Of America has a 52-week low of $29.47 and a 52-week high of $60.72.
Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last released its earnings results on Thursday, June 5th. The specialty chemicals company reported $0.80 earnings per share for the quarter. The firm had revenue of $115.50 million during the quarter. Oil-Dri Corporation Of America had a net margin of 10.44% and a return on equity of 21.57%.
Oil-Dri Corporation Of America Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be paid a dividend of $0.18 per share. This is an increase from Oil-Dri Corporation Of America's previous quarterly dividend of $0.16. The ex-dividend date is Friday, August 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.20%. Oil-Dri Corporation Of America's dividend payout ratio is presently 18.24%.
About Oil-Dri Corporation Of America
(
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.
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