Oil-Dri Corporation Of America (NYSE:ODC) Posts Quarterly Earnings Results

Key Points

• Oil-Dri Corporation reported a quarterly earnings of $0.89 per share, with a return on equity of 21.57% and a net margin of 10.44%.
• The company announced a quarterly dividend of $0.18, to be paid on November 21st, representing an annualized yield of 1.2%.
• Shares of Oil-Dri traded down 0.8% to $60.17, with analysts maintaining a consensus rating of "Buy."

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) released its earnings results on Thursday. The specialty chemicals company reported $0.89 earnings per share for the quarter, Zacks reports. 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 Trading Down 0.8%

Shares of NYSE:ODC traded down $0.51 during midday trading on Thursday, reaching $60.17. 82,356 shares of the company's stock were exchanged, compared to its average volume of 50,981. Oil-Dri Corporation Of America has a fifty-two week low of $32.50 and a fifty-two week high of $69.75. The stock has a market cap of $880.82 million, a price-to-earnings ratio of 17.70 and a beta of 0.70. 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's 50 day simple moving average is $61.26 and its two-hundred day simple moving average is $54.42.

Oil-Dri Corporation Of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Friday, November 7th will be issued a $0.18 dividend. The ex-dividend date is Friday, November 7th. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. Oil-Dri Corporation Of America's dividend payout ratio (DPR) is presently 21.18%.

Analyst Upgrades and Downgrades

ODC has been the topic of several analyst reports. 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. Weiss Ratings reissued a "buy (b)" rating on shares of Oil-Dri Corporation Of America in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Oil-Dri Corporation Of America has a consensus rating of "Buy".

Insider Buying and Selling

In other Oil-Dri Corporation Of America news, Director Amy Ryan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $60.62, for a total value of $60,620.00. Following the completion of the sale, the director owned 2,900 shares of the company's stock, valued at $175,798. This trade represents a 25.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher B. Lamson sold 2,500 shares of Oil-Dri Corporation Of America stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $61.75, for a total value of $154,375.00. Following the sale, the vice president owned 11,453 shares in the company, valued at $707,222.75. This represents a 17.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Several hedge funds have recently bought and sold shares of ODC. State of Tennessee Department of Treasury acquired a new position in shares of Oil-Dri Corporation Of America during the 2nd quarter valued at about $169,000. Tidal Investments LLC acquired a new stake in shares of Oil-Dri Corporation Of America during the 2nd quarter worth approximately $461,000. BNP Paribas Financial Markets grew its holdings in shares of Oil-Dri Corporation Of America by 156.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 8,786 shares of the specialty chemicals company's stock worth $518,000 after purchasing an additional 5,357 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Oil-Dri Corporation Of America by 5.0% during the 2nd quarter. Bank of America Corp DE now owns 11,890 shares of the specialty chemicals company's stock worth $701,000 after purchasing an additional 561 shares in the last quarter. Finally, PDT Partners LLC grew its holdings in shares of Oil-Dri Corporation Of America by 11.3% during the 2nd quarter. PDT Partners LLC now owns 9,847 shares of the specialty chemicals company's stock worth $581,000 after purchasing an additional 1,003 shares in the last quarter. 49.01% of the stock is owned by hedge funds and other 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.

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