Needham Investment Management LLC Has $25.78 Million Holdings in Oil-Dri Corporation Of America $ODC

Key Points

• Needham Investment Management LLC increased its stake in Oil-Dri Corporation Of America by 100.5% in Q1, making it the firm’s 6th largest stock position, representing about 2.4% of its investment portfolio.
• Multiple hedge funds, including Trust Co. of Vermont and MAI Capital Management, have also significantly increased their positions in the company during the same quarter.
• Wall Street analysts recently downgraded Oil-Dri Corporation Of America's stock from a "strong-buy" rating to a "buy" rating, indicating a shift in sentiment regarding the stock's growth potential.

Needham Investment Management LLC grew its stake in Oil-Dri Corporation Of America (NYSE:ODC - Free Report) by 100.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 561,500 shares of the specialty chemicals company's stock after buying an additional 281,500 shares during the quarter. Oil-Dri Corporation Of America accounts for approximately 2.4% of Needham Investment Management LLC's portfolio, making the stock its 6th biggest position. Needham Investment Management LLC owned approximately 3.85% of Oil-Dri Corporation Of America worth $25,784,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Oil-Dri Corporation Of America by 87.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,876 shares of the specialty chemicals company's stock valued at $775,000 after purchasing an additional 7,863 shares during the last quarter. Rhumbline Advisers lifted its position in Oil-Dri Corporation Of America by 97.6% in the first quarter. Rhumbline Advisers now owns 14,518 shares of the specialty chemicals company's stock valued at $667,000 after purchasing an additional 7,172 shares during the period. Informed Momentum Co LLC purchased a new position in shares of Oil-Dri Corporation Of America during the 1st quarter worth approximately $915,000. New York State Teachers Retirement System raised its position in Oil-Dri Corporation Of America by 98.0% in the first quarter. New York State Teachers Retirement System now owns 891 shares of the specialty chemicals company's stock worth $41,000 after acquiring an additional 441 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of 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 valued at $4,457,000 after purchasing an additional 49,312 shares in the last quarter. Hedge funds and other institutional investors own 49.01% of the company's stock.

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 report on Sunday, June 22nd.

Insiders Place Their Bets

In related news, Director Amy Ryan sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $60.62, for a total transaction of $60,620.00. Following the sale, the director directly owned 2,900 shares of the company's stock, valued at approximately $175,798. This represents a 25.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher B. Lamson sold 2,500 shares of the firm's stock in a transaction dated 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. The trade was a 17.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,000 shares of company stock worth $354,570 in the last three months. 11.66% of the stock is owned by insiders.

Oil-Dri Corporation Of America Stock Up 0.0%

NYSE ODC traded up $0.01 during trading hours on Tuesday, hitting $65.28. The company had a trading volume of 52,113 shares, compared to its average volume of 74,336. The firm's 50 day moving average is $59.55 and its 200 day moving average is $51.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.83 and a quick ratio of 1.85. Oil-Dri Corporation Of America has a fifty-two week low of $32.13 and a fifty-two week high of $65.86. The company has a market capitalization of $955.73 million, a price-to-earnings ratio of 19.20 and a beta of 0.69.

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.