Forum Financial Management LP Makes New $571,000 Investment in Oil-Dri Co. of America (NYSE:ODC)

Forum Financial Management LP bought a new position in shares of Oil-Dri Co. of America (NYSE:ODC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 6,515 shares of the specialty chemicals company's stock, valued at approximately $571,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ODC. FMR LLC increased its holdings in shares of Oil-Dri Co. of America by 81.6% in the 3rd quarter. FMR LLC now owns 445 shares of the specialty chemicals company's stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Oil-Dri Co. of America by 12.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,401 shares of the specialty chemicals company's stock valued at $166,000 after acquiring an additional 268 shares during the period. Franklin Resources Inc. purchased a new stake in shares of Oil-Dri Co. of America during the 3rd quarter worth approximately $216,000. Mariner LLC acquired a new stake in Oil-Dri Co. of America in the fourth quarter valued at $222,000. Finally, LPL Financial LLC purchased a new position in shares of Oil-Dri Co. of America in the fourth quarter valued at $235,000. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Oil-Dri Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 11th.

Insiders Place Their Bets

In related news, Director Ellen-Blair Chube sold 3,500 shares of Oil-Dri Co. 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 sale, the director now directly owns 11,820 shares in the company, valued at $502,468.20. This trade represents a 22.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.66% of the stock is currently owned by company insiders.

Oil-Dri Co. of America Stock Down 0.2 %

Shares of NYSE ODC traded down $0.10 on Friday, hitting $41.87. The company had a trading volume of 5,874 shares, compared to its average volume of 36,884. The business has a 50 day moving average of $44.72 and a two-hundred day moving average of $34.24. The firm has a market capitalization of $611.08 million, a P/E ratio of 13.53 and a beta of 0.55. The company has a quick ratio of 1.61, a current ratio of 2.63 and a debt-to-equity ratio of 0.20. Oil-Dri Co. of America has a 12-month low of $29.47 and a 12-month high of $49.72.

Oil-Dri Co. of America (NYSE:ODC - Get Free Report) last released its quarterly earnings results on Tuesday, March 11th. The specialty chemicals company reported $0.89 EPS for the quarter. The business had revenue of $116.91 million for the quarter. Oil-Dri Co. of America had a return on equity of 21.84% and a net margin of 9.92%.

Oil-Dri Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.48%. The ex-dividend date is Friday, May 9th. Oil-Dri Co. of America's payout ratio is currently 19.81%.

Oil-Dri Co. 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.