Oil-Dri Corporation Of America (NYSE:ODC) Reaches New 1-Year High - Here's Why

Key Points

• Shares of Oil‑Dri (NYSE:ODC) hit a new 52‑week high, trading as high as $70.22 (last $69.62) with a market cap near $1.02 billion and 50‑/200‑day moving averages of $64.11/$58.52.
• The company declared a quarterly dividend of $0.205 per share (annualized $0.82) with an ex‑dividend date of May 8 and payment on May 22, implying about a 1.2% yield and a 22.22% payout ratio.
• Analyst views are mixed but average to a Buy (Weiss Ratings reiterated buy while Wall Street Zen cut to hold); Director Paul Hindsley sold 6,000 shares (reducing his stake by ~35%) and institutions own roughly 49% of the stock.

Shares of Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $70.22 and last traded at $69.6220, with a volume of 7885 shares traded. The stock had previously closed at $68.42.

Analyst Upgrades and Downgrades

Several analysts recently commented on ODC shares. Weiss Ratings restated a "buy (b-)" rating on shares of Oil-Dri Corporation Of America in a report on Friday, March 27th. Wall Street Zen cut shares of Oil-Dri Corporation Of America from a "strong-buy" rating to a "hold" rating in a report on Saturday, December 13th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy".

Oil-Dri Corporation Of America Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 3.45 and a quick ratio of 2.40. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 19.17 and a beta of 0.79. The firm's fifty day moving average is $64.11 and its 200 day moving average is $58.52.

Oil-Dri Corporation Of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, May 8th. Oil-Dri Corporation Of America's dividend payout ratio (DPR) is presently 22.22%.

Insiders Place Their Bets

In related news, Director Paul Hindsley sold 6,000 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $63.90, for a total transaction of $383,400.00. Following the transaction, the director owned 11,000 shares of the company's stock, valued at approximately $702,900. This trade represents a 35.29% 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. Insiders own 11.69% of the company's stock.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its position in Oil-Dri Corporation Of America by 9.6% during the third quarter. American Century Companies Inc. now owns 401,152 shares of the specialty chemicals company's stock valued at $24,486,000 after acquiring an additional 35,302 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Oil-Dri Corporation Of America by 51.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 88,177 shares of the specialty chemicals company's stock valued at $5,382,000 after acquiring an additional 30,025 shares in the last quarter. Allianz Asset Management GmbH bought a new position in Oil-Dri Corporation Of America during the third quarter valued at approximately $483,000. JPMorgan Chase & Co. raised its position in 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 acquiring an additional 29,583 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new position in Oil-Dri Corporation Of America during the third quarter valued at approximately $657,000. Institutional investors 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.

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