Oil-Dri Corporation Of America (NYSE:ODC) Hits New 1-Year High - What's Next?

Key Points

• Oil-Dri Corporation of America (NYSE: ODC) hit a new 52-week high of $107.00, ending the session up about 2.2% as trading volume picked up. The move came after a strong run that pushed the stock well above its 50-day and 200-day moving averages.
• Recent analyst commentary has turned more positive, with Wall Street Zen upgrading the stock to “strong-buy” and Weiss Ratings lifting its rating to “buy.” MarketBeat data shows the stock currently carries an average analyst rating of “Buy.”
• The company reported strong quarterly results with EPS of $1.00 on revenue of $126.33 million, and it also raised its quarterly dividend to $0.225 per share from $0.20. That implies an annualized dividend of $0.90 and a yield of about 0.8%.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $107.00 and last traded at $106.7270, with a volume of 129161 shares changing hands. The stock had previously closed at $104.41.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ODC shares. Wall Street Zen raised Oil-Dri Corporation Of America from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Weiss Ratings upgraded shares of Oil-Dri Corporation Of America from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, May 1st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy".

Oil-Dri Corporation Of America Stock Up 2.2%

The company has a market cap of $1.55 billion, a price-to-earnings ratio of 27.44 and a beta of 0.77. The company has a current ratio of 3.28, a quick ratio of 2.40 and a debt-to-equity ratio of 0.14. The business has a fifty day moving average of $87.39 and a two-hundred day moving average of $71.08.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last released its quarterly earnings results on Monday, June 8th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter. The firm had revenue of $126.33 million for the quarter. Oil-Dri Corporation Of America had a net margin of 11.35% and a return on equity of 20.53%. During the same period in the prior year, the business posted $0.80 EPS.

Oil-Dri Corporation Of America Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 0.8%. This is a positive change from Oil-Dri Corporation Of America's previous quarterly dividend of $0.20. The ex-dividend date is Friday, August 7th. Oil-Dri Corporation Of America's dividend payout ratio (DPR) is 21.08%.

Insider Activity at Oil-Dri Corporation Of America

In related news, Director Ellen-Blair Chube sold 1,390 shares of the company's stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $73.06, for a total transaction of $101,553.40. Following the completion of the transaction, the director owned 8,930 shares in the company, valued at $652,425.80. This represents a 13.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 11.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Several large investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in shares of Oil-Dri Corporation 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Oil-Dri Corporation Of America by 108.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,792 shares of the specialty chemicals company's stock valued at $266,000 after purchasing an additional 3,010 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Oil-Dri Corporation Of America by 122.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 87,725 shares of the specialty chemicals company's stock valued at $4,028,000 after purchasing an additional 48,309 shares during the last quarter. Jane Street Group LLC lifted its holdings in Oil-Dri Corporation Of America by 204.7% in the 1st quarter. Jane Street Group LLC now owns 19,498 shares of the specialty chemicals company's stock valued at $895,000 after purchasing an additional 13,099 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Oil-Dri Corporation Of America by 44.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,338 shares of the specialty chemicals company's stock valued at $846,000 after purchasing an additional 4,386 shares in the last quarter. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

Oil-Dri Corporation Of America Company Profile

Oil-Dri Corporation of America is a specialty materials company that develops, manufactures and markets sorbent and filtration products for industrial, environmental and consumer applications. Its flagship offerings include clay- and diatomaceous earth–based cat litters, calcium silicate absorbents for spill control and cleanup, and purification media designed to remove contaminants from petroleum, chemical and food-processing streams.

Founded in 1941 and headquartered in Chicago, Illinois, the company has evolved from a single-product operation into a diversified provider of mineral- and chemical-based solutions.

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