Oil-Dri Corporation Of America (NYSE:ODC) Hits New 12-Month High - Should You Buy?

Key Points

• Oil-Dri Corporation Of America reached a new 52-week high of $66.24, reflecting significant trading activity with a recent volume of 1,882 shares.
• Wall Street analysts recently downgraded the company's rating from "strong-buy" to "buy," indicating a shift in sentiment towards its stock.
• Insider trading shows notable selling activity, with directors selling a combined total of 3,500 shares, highlighting potential concerns about management confidence in the stock's future performance.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $66.24 and last traded at $66.14, with a volume of 1882 shares changing hands. The stock had previously closed at $65.55.

Analyst Ratings Changes

Separately, Wall Street Zen cut Oil-Dri Corporation Of America from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 22nd.

Oil-Dri Corporation Of America Stock Performance

The firm has a 50 day simple moving average of $60.03 and a 200-day simple moving average of $52.62. The company has a market cap of $982.56 million, a price-to-earnings ratio of 19.74 and a beta of 0.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.83 and a quick ratio of 1.85.

Insider Transactions at Oil-Dri Corporation Of America

In related news, Director Amy Ryan sold 1,000 shares of Oil-Dri Corporation Of America stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $60.62, for a total value of $60,620.00. Following the completion of the transaction, the director directly owned 2,900 shares in the company, valued at approximately $175,798. This trade represents a 25.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Christopher B. Lamson sold 2,500 shares of Oil-Dri Corporation Of America stock in a transaction on Monday, July 21st. The shares were sold at an average price of $61.75, for a total value of $154,375.00. Following the completion of the transaction, the vice president owned 11,453 shares of the company's stock, valued at approximately $707,222.75. This trade represents a 17.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,000 shares of company stock worth $354,570 over the last ninety days. Company insiders own 11.66% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its holdings in Oil-Dri Corporation Of America by 57.4% in the second quarter. Russell Investments Group Ltd. now owns 502 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 183 shares during the period. Trust Co. of Vermont lifted 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 worth $28,000 after buying an additional 300 shares during the last quarter. MAI Capital Management lifted its holdings in Oil-Dri Corporation Of America by 100.0% during 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 last quarter. Raymond James Financial Inc. purchased a new stake in Oil-Dri Corporation Of America during the 2nd quarter worth about $45,000. Finally, New York State Teachers Retirement System lifted its holdings in Oil-Dri Corporation Of America by 98.0% during the 1st 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 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 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.