Oil-Dri Corporation Of America $ODC Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors reduced its Oil-Dri stake by 11% in the first quarter, selling 56,769 shares and retaining 461,334 shares worth approximately $30 million, or 3.19% of the company.
• Other institutions, including Goldman Sachs, Jane Street, Royal Bank of Canada and JPMorgan, increased their positions; institutional and hedge-fund investors collectively own 49.01% of ODC.
• Oil-Dri reported quarterly EPS of $1.00 on $126.33 million in revenue and raised its quarterly dividend to $0.225, equivalent to $0.90 annually and a 0.9% yield. Analysts cited in the article maintain an overall “Buy” rating.

Dimensional Fund Advisors LP trimmed its holdings in Oil-Dri Corporation Of America (NYSE:ODC - Free Report) by 11.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 461,334 shares of the specialty chemicals company's stock after selling 56,769 shares during the period. Dimensional Fund Advisors LP owned about 3.19% of Oil-Dri Corporation Of America worth $30,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Royal Bank of Canada increased its stake in shares of Oil-Dri Corporation Of America by 79.0% in the first quarter. Royal Bank of Canada now owns 31,787 shares of the specialty chemicals company's stock worth $1,460,000 after buying an additional 14,030 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Oil-Dri Corporation Of America by 108.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,792 shares of the specialty chemicals company's stock worth $266,000 after acquiring an additional 3,010 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Oil-Dri Corporation Of America by 122.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 87,725 shares of the specialty chemicals company's stock worth $4,028,000 after purchasing an additional 48,309 shares during the last quarter. Jane Street Group LLC increased its position in shares of Oil-Dri Corporation Of America by 204.7% in the 1st quarter. Jane Street Group LLC now owns 19,498 shares of the specialty chemicals company's stock worth $895,000 after purchasing an additional 13,099 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Oil-Dri Corporation Of America by 44.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,338 shares of the specialty chemicals company's stock valued at $846,000 after purchasing an additional 4,386 shares in the last quarter. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ODC has been the subject of a number of research reports. Wall Street Zen upgraded Oil-Dri Corporation Of America from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 12th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Oil-Dri Corporation Of America in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy".

Oil-Dri Corporation Of America Stock Up 1.5%

ODC stock opened at $99.09 on Wednesday. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 25.47 and a beta of 0.78. Oil-Dri Corporation Of America has a 1-year low of $45.61 and a 1-year high of $107.00. The firm has a fifty day moving average price of $95.31 and a two-hundred day moving average price of $76.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.28 and a quick ratio of 2.40.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last posted its quarterly earnings results on Monday, June 8th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter. Oil-Dri Corporation Of America had a net margin of 11.35% and a return on equity of 20.53%. The company had revenue of $126.33 million for the quarter. During the same quarter in the previous year, the business posted $0.80 earnings per share.

Oil-Dri Corporation Of America Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be paid a $0.225 dividend. The ex-dividend date is Friday, August 7th. This is an increase from Oil-Dri Corporation Of America's previous quarterly dividend of $0.20. This represents a $0.90 dividend on an annualized basis and a yield of 0.9%. Oil-Dri Corporation Of America's payout ratio is presently 21.08%.

Oil-Dri Corporation Of America Company Profile

Oil-Dri Corporation of America is a specialty materials company that develops, manufactures and markets sorbent and filtration products for industrial, environmental and consumer applications. Its flagship offerings include clay- and diatomaceous earth–based cat litters, calcium silicate absorbents for spill control and cleanup, and purification media designed to remove contaminants from petroleum, chemical and food-processing streams.

Founded in 1941 and headquartered in Chicago, Illinois, the company has evolved from a single-product operation into a diversified provider of mineral- and chemical-based solutions.

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