Teton Advisors Inc. Buys 8,300 Shares of Oil-Dri Corporation Of America $ODC

Key Points

• Teton Advisors Inc. significantly increased its holdings in Oil-Dri Corporation Of America by 95.4%, owning 17,000 shares valued at approximately $781,000 as of the latest reporting period.
• Several institutional investors also raised their stakes in Oil-Dri Corporation during the 1st quarter, including Allspring Global Investments and Bank of New York Mellon Corp, highlighting increased interest in the company.
• The company has declared a quarterly dividend of $0.18, up from $0.16, indicating ongoing profitability and commitment to returning value to shareholders.

Teton Advisors Inc. grew its stake in shares of Oil-Dri Corporation Of America (NYSE:ODC - Free Report) by 95.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,000 shares of the specialty chemicals company's stock after acquiring an additional 8,300 shares during the period. Teton Advisors Inc. owned 0.12% of Oil-Dri Corporation Of America worth $781,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Gamco Investors INC. ET AL grew its holdings in shares of Oil-Dri Corporation Of America by 99.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 799,112 shares of the specialty chemicals company's stock valued at $36,695,000 after acquiring an additional 398,056 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of Oil-Dri Corporation Of America by 99.5% during the 1st quarter. Gabelli Funds LLC now owns 165,200 shares of the specialty chemicals company's stock valued at $7,586,000 after acquiring an additional 82,400 shares in the last quarter. Corebridge Financial Inc. grew its holdings in shares of Oil-Dri Corporation Of America by 97.1% during the 1st quarter. Corebridge Financial Inc. now owns 4,797 shares of the specialty chemicals company's stock valued at $220,000 after acquiring an additional 2,363 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Oil-Dri Corporation Of America by 95.2% during the 1st quarter. MetLife Investment Management LLC now owns 5,621 shares of the specialty chemicals company's stock valued at $258,000 after acquiring an additional 2,742 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Oil-Dri Corporation Of America by 100.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,160 shares of the specialty chemicals company's stock valued at $53,000 after acquiring an additional 580 shares in the last quarter. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

Oil-Dri Corporation Of America Stock Performance

ODC stock traded up $0.21 during mid-day trading on Friday, reaching $59.32. 34,322 shares of the stock traded hands, compared to its average volume of 74,920. The company has a quick ratio of 1.85, a current ratio of 2.83 and a debt-to-equity ratio of 0.16. Oil-Dri Corporation Of America has a 52 week low of $32.06 and a 52 week high of $63.82. The business has a 50-day moving average of $58.91 and a two-hundred day moving average of $50.91. The firm has a market capitalization of $868.50 million, a PE ratio of 17.45 and a beta of 0.67.

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

Oil-Dri Corporation Of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Oil-Dri Corporation Of America's previous quarterly dividend of $0.16. The ex-dividend date was Friday, August 8th. Oil-Dri Corporation Of America's dividend payout ratio is currently 21.18%.

Insider Buying and Selling at Oil-Dri Corporation Of America

In other Oil-Dri Corporation Of America news, Director Amy Ryan sold 1,000 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $60.62, for a total transaction of $60,620.00. Following the completion of the sale, the director directly owned 2,900 shares in the company, valued at $175,798. This represents a 25.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher B. Lamson sold 2,500 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $61.75, for a total transaction of $154,375.00. Following the sale, the vice president owned 11,453 shares of the company's stock, valued at $707,222.75. This trade represents a 17.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,000 shares of company stock worth $354,570 over the last ninety days. Company insiders own 11.66% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Oil-Dri Corporation Of America from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 22nd.

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.