Oil-Dri Corporation Of America (NYSE:ODC) Raised to Strong-Buy at Wall Street Zen

Key Points

• Oil-Dri Corporation of America (NYSE: ODC) was upgraded by Wall Street Zen from “buy” to “strong-buy”, reinforcing a bullish analyst outlook. Weiss Ratings also raised its view of the stock, and MarketBeat says the overall consensus remains a Buy.
• Shares rose 2.3% to $104.88, close to the stock’s 52-week high of $106.84. The company now has a market value of about $1.52 billion and trades above both its 50-day and 200-day moving averages.
• The company recently reported strong quarterly results, including $1.00 EPS on $126.33 million in revenue, up from $0.80 EPS a year earlier. Oil-Dri also shows solid balance-sheet metrics, including a low debt-to-equity ratio and strong liquidity.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Sunday.

Separately, Weiss Ratings upgraded Oil-Dri Corporation Of America from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, May 1st. 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".

Oil-Dri Corporation Of America Stock Up 2.3%

Shares of ODC stock traded up $2.32 on Friday, hitting $104.88. The stock had a trading volume of 101,153 shares, compared to its average volume of 111,718. The stock's 50 day moving average is $87.39 and its 200-day moving average is $70.94. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 26.96 and a beta of 0.77. Oil-Dri Corporation Of America has a 52-week low of $45.61 and a 52-week high of $106.84. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.40 and a current ratio of 3.28.

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. Oil-Dri Corporation Of America had a net margin of 11.35% and a return on equity of 20.53%. The firm had revenue of $126.33 million for the quarter. During the same period last year, the firm earned $0.80 EPS.

Insider Transactions at Oil-Dri Corporation Of America

In other Oil-Dri Corporation Of America news, Director Ellen-Blair Chube sold 1,390 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $73.06, for a total transaction of $101,553.40. Following the transaction, the director owned 8,930 shares of the company's stock, valued at $652,425.80. This trade represents a 13.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 11.69% of the stock is owned by insiders.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

Hedge funds have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL lifted its holdings in Oil-Dri Corporation Of America by 190.4% in the third quarter. Tudor Investment Corp ET AL now owns 52,935 shares of the specialty chemicals company's stock worth $3,231,000 after acquiring an additional 34,706 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Oil-Dri Corporation Of America by 206.3% during the third quarter. JPMorgan Chase & Co. now owns 43,921 shares of the specialty chemicals company's stock valued at $2,681,000 after purchasing an additional 29,583 shares during the last quarter. Barnett & Company Inc. grew its holdings in shares of Oil-Dri Corporation Of America by 116.5% during the first quarter. Barnett & Company Inc. now owns 26,850 shares of the specialty chemicals company's stock valued at $1,748,000 after purchasing an additional 14,450 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Oil-Dri Corporation Of America by 12.9% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 141,178 shares of the specialty chemicals company's stock worth $6,909,000 after purchasing an additional 16,124 shares during the period. Finally, Round Rock Advisors LLC raised its position in shares of Oil-Dri Corporation Of America by 72.1% during the 4th quarter. Round Rock Advisors LLC now owns 21,404 shares of the specialty chemicals company's stock worth $1,048,000 after purchasing an additional 8,964 shares during the period. Institutional investors and hedge funds own 49.01% of the company's stock.

About Oil-Dri Corporation Of America

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.