Oil-Dri Corporation Of America (NYSE:ODC) Hits New 52-Week High - Here's Why

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) hit 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. The stock had previously closed at $65.55.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Oil-Dri Corporation Of America from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 22nd.

Oil-Dri Corporation Of America Trading Up 1.4%

The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.85 and a current ratio of 2.83. The stock's 50-day simple moving average is $59.66 and its 200-day simple moving average is $52.03. The firm has a market capitalization of $973.56 million, a PE ratio of 19.56 and a beta of 0.69.

Insider Buying and Selling at Oil-Dri Corporation Of America

In other Oil-Dri Corporation Of America news, Director Ellen-Blair Chube sold 2,500 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $55.83, for a total transaction of $139,575.00. Following the transaction, the director directly owned 9,320 shares of the company's stock, valued at approximately $520,335.60. The trade was a 21.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy Ryan sold 1,000 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $60.62, for a total transaction of $60,620.00. Following the transaction, the director directly owned 2,900 shares in the company, valued at approximately $175,798. The trade was a 25.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,000 shares of company stock valued at $354,570. 11.66% of the stock is currently owned by company insiders.

Institutional Trading of Oil-Dri Corporation Of America

A number of hedge funds have recently modified their holdings of the business. Legal & General Group Plc boosted its holdings in shares of Oil-Dri Corporation Of America by 20.1% during the 2nd quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company's stock valued at $63,000 after buying an additional 178 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Oil-Dri Corporation Of America by 57.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 502 shares of the specialty chemicals company's stock worth $30,000 after purchasing an additional 183 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in Oil-Dri Corporation Of America by 25.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,013 shares of the specialty chemicals company's stock worth $60,000 after purchasing an additional 203 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in Oil-Dri Corporation Of America by 2.3% in the 2nd quarter. Apollon Wealth Management LLC now owns 12,638 shares of the specialty chemicals company's stock worth $746,000 after purchasing an additional 287 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in Oil-Dri Corporation Of America by 100.0% in the 1st quarter. Trust Co. of Vermont now owns 600 shares of the specialty chemicals company's stock worth $28,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 49.01% of the company's stock.

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.

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