Vanguard Group Inc. Has $28.11 Million Stock Holdings in Oil-Dri Corporation Of America $ODC

Key Points

• Vanguard Group Inc. has increased its stake in Oil-Dri Corporation of America by 119.3%, now owning approximately 4.19% of the company, valued at around $28.1 million.
• Several institutional investors, including Allspring Global Investments and Bank of New York Mellon, have significantly boosted their holdings in Oil-Dri Corporation during the first quarter of 2023, leading to a 49.01% ownership by institutional investors overall.
• Oil-Dri Corporation recently declared a quarterly dividend of $0.18 per share, an increase from the previous $0.16, with a payout ratio currently at 21.18%.

Vanguard Group Inc. lifted its position in Oil-Dri Corporation Of America (NYSE:ODC - Free Report) by 119.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 612,195 shares of the specialty chemicals company's stock after acquiring an additional 333,053 shares during the period. Vanguard Group Inc. owned about 4.19% of Oil-Dri Corporation Of America worth $28,112,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ODC. Royce & Associates LP grew its position in Oil-Dri Corporation Of America by 102.4% during the first quarter. Royce & Associates LP now owns 336,000 shares of the specialty chemicals company's stock valued at $15,429,000 after purchasing an additional 170,000 shares in the last quarter. Bank of New York Mellon Corp grew its position in Oil-Dri Corporation Of America by 103.3% during the first 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. Cardinal Capital Management grew its position in 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 purchasing an additional 47,683 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in Oil-Dri Corporation Of America by 42.1% during the first 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 in the last quarter. Finally, Foundry Partners LLC grew its position in Oil-Dri Corporation Of America by 67.4% during the first quarter. Foundry Partners LLC now owns 61,895 shares of the specialty chemicals company's stock valued at $2,842,000 after purchasing an additional 24,929 shares in the last quarter. 49.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Oil-Dri Corporation Of America

In related news, VP Christopher B. Lamson sold 2,500 shares of the company's stock in a transaction 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 $707,222.75. This represents a 17.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Amy Ryan sold 1,000 shares of the company's stock in a transaction 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 transaction, the director owned 2,900 shares of the company's stock, valued at approximately $175,798. The trade was a 25.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,000 shares of company stock worth $354,570 in the last ninety days. 11.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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.

Oil-Dri Corporation Of America Stock Performance

Shares of NYSE ODC traded up $0.21 during trading hours on Friday, hitting $59.32. 34,322 shares of the stock were exchanged, compared to its average volume of 74,920. 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's 50 day moving average is $58.91 and its 200 day moving average is $50.97. The firm has a market capitalization of $868.50 million, a P/E ratio of 17.45 and a beta of 0.67. Oil-Dri Corporation Of America has a one year low of $32.06 and a one year 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 earnings per share (EPS) for the quarter. The business 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 business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, August 8th. This is an increase from Oil-Dri Corporation Of America's previous quarterly dividend of $0.16. Oil-Dri Corporation Of America's dividend payout ratio is currently 21.18%.

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.