Oil-Dri Corporation Of America (NYSE:ODC) Sees Strong Trading Volume - Still a Buy?

Key Points

• Oil-Dri Corporation of America saw unusually high trading volume, with about 77,626 shares changing hands, while the stock traded around $94.88 and was down slightly on the day.
• Recent analyst actions have been positive: Weiss Ratings and Wall Street Zen both upgraded the stock, and MarketBeat data shows an overall Buy consensus.
• The company posted solid fundamentals, including $1.00 EPS on $126.33 million in revenue, and it also raised its quarterly dividend to $0.225 per share from $0.20.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) shares saw unusually-high trading volume on Thursday . Approximately 77,626 shares changed hands during mid-day trading, a decline of 6% from the previous session's volume of 82,348 shares.The stock last traded at $94.8810 and had previously closed at $94.79.

Wall Street Analysts Forecast Growth

ODC has been the topic of several recent research reports. Weiss Ratings raised Oil-Dri Corporation Of America from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 1st. Wall Street Zen upgraded Oil-Dri Corporation Of America from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy".

Oil-Dri Corporation Of America Trading Down 0.3%

The company has a debt-to-equity ratio of 0.14, a current ratio of 3.28 and a quick ratio of 2.40. The business's 50 day simple moving average is $91.13 and its 200 day simple moving average is $73.92. The stock has a market cap of $1.37 billion, a P/E ratio of 24.29 and a beta of 0.77.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last issued its earnings results on Monday, June 8th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter. The business had revenue of $126.33 million during the quarter. Oil-Dri Corporation Of America had a return on equity of 20.53% and a net margin of 11.35%.During the same period in the previous year, the company posted $0.80 earnings per share.

Oil-Dri Corporation Of America Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.90 annualized dividend and a yield of 1.0%. This is an increase from Oil-Dri Corporation Of America's previous quarterly dividend of $0.20. Oil-Dri Corporation Of America's payout ratio is 21.08%.

Institutional Trading of Oil-Dri Corporation Of America

Several hedge funds have recently modified their holdings of ODC. Russell Investments Group Ltd. boosted its holdings in shares of 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 acquiring an additional 183 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Oil-Dri Corporation Of America during the 2nd quarter valued at $45,000. Fifth Third Bancorp acquired a new stake in Oil-Dri Corporation Of America during the 1st quarter valued at $54,000. Legal & General Group Plc raised its position in Oil-Dri Corporation Of America by 20.1% in the 2nd quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company's stock valued at $63,000 after purchasing an additional 178 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Oil-Dri Corporation Of America by 361.7% in the 4th quarter. State of Alaska Department of Revenue now owns 1,879 shares of the specialty chemicals company's stock valued at $91,000 after purchasing an additional 1,472 shares during the last quarter. 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.

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