Oil-Dri Co. of America (NYSE:ODC - Get Free Report)'s stock price gapped up prior to trading on Friday after the company announced a dividend. The stock had previously closed at $50.89, but opened at $53.52. Oil-Dri Co. of America shares last traded at $54.87, with a volume of 18,735 shares traded. The newly announced dividend which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, August 8th. This is a positive change from Oil-Dri Co. of America's previous quarterly dividend of $0.16. Oil-Dri Co. of America's payout ratio is currently 19.81%.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen raised Oil-Dri Co. of America from a "hold" rating to a "buy" rating in a research report on Monday, April 28th.
Check Out Our Latest Stock Analysis on Oil-Dri Co. of America
Oil-Dri Co. of America Trading Up 7.8%
The stock has a 50-day simple moving average of $45.32 and a two-hundred day simple moving average of $40.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.61 and a current ratio of 2.63. The firm has a market cap of $800.75 million, a PE ratio of 17.73 and a beta of 0.54.
Oil-Dri Co. of America (NYSE:ODC - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The specialty chemicals company reported $0.80 EPS for the quarter. Oil-Dri Co. of America had a net margin of 9.92% and a return on equity of 21.84%. The firm had revenue of $115.50 million during the quarter.
Insider Activity at Oil-Dri Co. of America
In other Oil-Dri Co. of America news, Director Ellen-Blair Chube sold 3,500 shares of the company's stock in a transaction that occurred 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 directly owns 11,820 shares in the company, valued at $502,468.20. This represents a 22.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 11.66% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL boosted its position in shares of Oil-Dri Co. 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 during the last quarter. Vanguard Group Inc. increased its stake in Oil-Dri Co. of America by 119.3% in the first quarter. Vanguard Group Inc. now owns 612,195 shares of the specialty chemicals company's stock worth $28,112,000 after purchasing an additional 333,053 shares during the period. Needham Investment Management LLC grew its position in shares of Oil-Dri Co. of America by 100.5% during the 1st quarter. Needham Investment Management LLC now owns 561,500 shares of the specialty chemicals company's stock worth $25,784,000 after buying an additional 281,500 shares in the last quarter. Royce & Associates LP grew its position in shares of Oil-Dri Co. of America by 102.4% during the 1st quarter. Royce & Associates LP now owns 336,000 shares of the specialty chemicals company's stock worth $15,429,000 after buying an additional 170,000 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Oil-Dri Co. of America by 126.4% during the 1st quarter. American Century Companies Inc. now owns 331,083 shares of the specialty chemicals company's stock worth $15,203,000 after buying an additional 184,844 shares in the last quarter. 49.01% of the stock is currently owned by institutional investors.
About Oil-Dri Co. of America
(
Get Free Report)
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.
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