Needham Investment Management LLC Grows Position in Oil-Dri Co. of America (NYSE:ODC)

Needham Investment Management LLC grew its position in Oil-Dri Co. of America (NYSE:ODC - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 280,000 shares of the specialty chemicals company's stock after purchasing an additional 12,500 shares during the quarter. Oil-Dri Co. of America makes up about 1.9% of Needham Investment Management LLC's investment portfolio, making the stock its 14th largest holding. Needham Investment Management LLC owned approximately 1.92% of Oil-Dri Co. of America worth $24,539,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ODC. American Century Companies Inc. boosted its position in shares of Oil-Dri Co. of America by 11.5% during the fourth quarter. American Century Companies Inc. now owns 146,239 shares of the specialty chemicals company's stock worth $12,816,000 after acquiring an additional 15,041 shares during the last quarter. Walleye Capital LLC bought a new stake in Oil-Dri Co. of America in the fourth quarter worth about $772,000. Citadel Advisors LLC bought a new stake in Oil-Dri Co. of America in the fourth quarter worth about $701,000. Forum Financial Management LP purchased a new position in Oil-Dri Co. of America in the 4th quarter worth about $571,000. Finally, JPMorgan Chase & Co. increased its stake in Oil-Dri Co. of America by 238.0% in the 4th quarter. JPMorgan Chase & Co. now owns 8,116 shares of the specialty chemicals company's stock worth $711,000 after buying an additional 5,715 shares during the period. 49.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Oil-Dri Co. of America from a "hold" rating to a "buy" rating in a report on Monday, April 28th.

Oil-Dri Co. of America Stock Up 2.1%

Oil-Dri Co. of America stock traded up $1.01 during midday trading on Friday, hitting $48.36. 43,532 shares of the company's stock were exchanged, compared to its average volume of 41,773. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.61 and a current ratio of 2.63. Oil-Dri Co. of America has a 12 month low of $29.47 and a 12 month high of $49.72. The firm has a 50-day moving average of $44.73 and a two-hundred day moving average of $37.06. The company has a market cap of $705.84 million, a PE ratio of 15.63 and a beta of 0.54.

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 earnings per share for the quarter. Oil-Dri Co. of America had a net margin of 9.92% and a return on equity of 21.84%. The business had revenue of $116.91 million for the quarter.

Oil-Dri Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a $0.155 dividend. The ex-dividend date is Friday, May 9th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.28%. Oil-Dri Co. of America's payout ratio is 19.81%.

Insider Buying and Selling

In other news, Director Ellen-Blair Chube sold 3,500 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $42.51, for a total transaction of $148,785.00. Following the sale, the director now owns 11,820 shares in the company, valued at approximately $502,468.20. The trade was a 22.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.66% of the stock is owned by company insiders.

Oil-Dri Co. of America Company 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.