Oil-Dri Co. of America (NYSE:ODC) to Issue Quarterly Dividend of $0.18

Oil-Dri Co. of America (NYSE:ODC - Get Free Report) announced a quarterly dividend on Thursday, June 5th, Wall Street Journal reports. Stockholders of record on Friday, August 8th will be given a dividend of 0.18 per share by the specialty chemicals company on Friday, August 22nd. This represents a $0.72 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, August 8th. This is a 16.1% increase from Oil-Dri Co. of America's previous quarterly dividend of $0.16.

Oil-Dri Co. of America has increased its dividend by an average of 4.2% per year over the last three years and has increased its dividend every year for the last 11 years.

Oil-Dri Co. of America Stock Performance

Shares of ODC stock traded up $3.97 during trading hours on Friday, hitting $54.86. The stock had a trading volume of 104,771 shares, compared to its average volume of 41,120. The firm has a market capitalization of $800.68 million, a PE ratio of 17.73 and a beta of 0.62. Oil-Dri Co. of America has a twelve month low of $29.47 and a twelve month high of $55.83. The stock's 50 day moving average is $45.32 and its 200 day moving average is $40.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.63 and a quick ratio of 1.61.

Oil-Dri Co. of America (NYSE:ODC - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The specialty chemicals company reported $0.80 earnings per share for the quarter. Oil-Dri Co. of America had a return on equity of 21.84% and a net margin of 9.92%. The firm had revenue of $115.50 million during the quarter.

Insider Buying and Selling

In other Oil-Dri Co. of America news, Director Ellen-Blair Chube sold 3,500 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $42.51, for a total value of $148,785.00. Following the completion of the transaction, the director now owns 11,820 shares in the company, valued at approximately $502,468.20. This represents a 22.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 11.66% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ODC. Royal Bank of Canada raised its position in Oil-Dri Co. 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 acquiring an additional 14,030 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Oil-Dri Co. of America by 108.2% in the first 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. raised its position in Oil-Dri Co. of America by 122.6% in the first quarter. Goldman Sachs Group Inc. now owns 87,725 shares of the specialty chemicals company's stock worth $4,028,000 after acquiring an additional 48,309 shares in the last quarter. Finally, Jane Street Group LLC raised its position in Oil-Dri Co. of America by 204.7% in the first quarter. Jane Street Group LLC now owns 19,498 shares of the specialty chemicals company's stock worth $895,000 after acquiring an additional 13,099 shares in the last quarter. Hedge funds and other institutional investors own 49.01% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Oil-Dri Co. of America from a "hold" rating to a "buy" rating in a report on Monday, April 28th.

About Oil-Dri Co. of America

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.