Oil-Dri Corporation Of America (NYSE:ODC) Rating Lowered to "Buy" at Wall Street Zen

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

Oil-Dri Corporation Of America Stock Up 1.4%

NYSE ODC traded up $0.77 during mid-day trading on Friday, reaching $57.11. 120,605 shares of the company's stock traded hands, compared to its average volume of 41,603. The company has a current ratio of 2.83, a quick ratio of 1.85 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $48.24 and a 200-day simple moving average of $43.70. Oil-Dri Corporation Of America has a 1-year low of $29.47 and a 1-year high of $60.32. The company has a market cap of $836.09 million, a price-to-earnings ratio of 16.80 and a beta of 0.61.

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

Oil-Dri Corporation Of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, August 8th. This is an increase from Oil-Dri Corporation Of America's previous quarterly dividend of $0.16. Oil-Dri Corporation Of America's dividend payout ratio (DPR) is presently 18.24%.

Insiders Place Their Bets

In related news, Director Ellen-Blair Chube sold 2,500 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $55.83, for a total value of $139,575.00. Following the completion of the sale, the director now directly owns 9,320 shares in the company, valued at approximately $520,335.60. This trade represents a 21.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 11.66% of the company's stock.

Institutional Trading of Oil-Dri Corporation Of America

Institutional investors have recently modified their holdings of the business. Trust Co. of Vermont raised its holdings in Oil-Dri Corporation Of America by 100.0% during the 1st quarter. Trust Co. of Vermont now owns 600 shares of the specialty chemicals company's stock valued at $28,000 after acquiring an additional 300 shares during the period. MAI Capital Management lifted its holdings in Oil-Dri Corporation Of America by 100.0% in the first 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 lifted its holdings in Oil-Dri Corporation Of America by 98.0% in the first quarter. New York State Teachers Retirement System now owns 891 shares of the specialty chemicals company's stock worth $41,000 after buying an additional 441 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Oil-Dri Corporation Of America by 100.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,160 shares of the specialty chemicals company's stock worth $53,000 after buying an additional 580 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Oil-Dri Corporation Of America in the first quarter worth about $105,000. Institutional investors own 49.01% of the company's stock.

Oil-Dri Corporation 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.