Oil-Dri Corporation Of America (NYSE:ODC) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen cut shares of Oil-Dri Corporation Of America (NYSE:ODC - Free Report) from a strong-buy rating to a buy rating in a research report report published on Sunday.

Oil-Dri Corporation Of America Trading Down 1.3%

ODC traded down $0.77 during midday trading on Friday, reaching $57.20. 52,672 shares of the company's stock traded hands, compared to its average volume of 41,879. Oil-Dri Corporation Of America has a 52 week low of $29.47 and a 52 week high of $60.32. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.83 and a quick ratio of 1.85. The firm has a fifty day moving average of $48.86 and a two-hundred day moving average of $44.09. The stock has a market capitalization of $837.41 million, a price-to-earnings ratio of 16.82 and a beta of 0.62.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last posted its earnings results on Thursday, June 5th. The specialty chemicals company reported $0.80 earnings per share (EPS) for the quarter. The firm had revenue of $115.50 million for the quarter. Oil-Dri Corporation Of America had a return on equity of 21.57% and a net margin of 10.44%.

Oil-Dri Corporation Of America Increases Dividend

The business also recently announced a quarterly 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 1.26%. This is a boost from Oil-Dri Corporation Of America's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, August 8th. Oil-Dri Corporation Of America's dividend payout ratio (DPR) is currently 18.24%.

Insider Activity

In other news, Director Ellen-Blair Chube sold 3,500 shares of the 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 owns 11,820 shares of the company's stock, valued at approximately $502,468.20. This represents a 22.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.66% of the company's stock.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Several hedge funds have recently made changes to their positions in ODC. Trust Co. of Vermont lifted its position in Oil-Dri Corporation Of America by 100.0% during the first quarter. Trust Co. of Vermont now owns 600 shares of the specialty chemicals company's stock valued at $28,000 after buying an additional 300 shares during the period. MAI Capital Management grew its position in shares of Oil-Dri Corporation Of America by 100.0% in the 1st quarter. MAI Capital Management now owns 600 shares of the specialty chemicals company's stock worth $28,000 after buying an additional 300 shares during the period. New York State Teachers Retirement System increased its stake in shares of Oil-Dri Corporation Of America by 98.0% in the 1st quarter. New York State Teachers Retirement System now owns 891 shares of the specialty chemicals company's stock worth $41,000 after acquiring an additional 441 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Oil-Dri Corporation Of America by 100.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,160 shares of the specialty chemicals company's stock worth $53,000 after acquiring an additional 580 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Oil-Dri Corporation Of America in the 1st quarter worth about $105,000. 49.01% of the stock is currently owned by institutional investors.

About Oil-Dri Corporation 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.