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

Shares of Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $60.70 and last traded at $60.21, with a volume of 77222 shares. The stock had previously closed at $58.99.

Wall Street Analysts Forecast Growth

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

Oil-Dri Corporation Of America Stock Performance

The firm has a market cap of $883.23 million, a price-to-earnings ratio of 17.74 and a beta of 0.65. 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 has a fifty day simple moving average of $51.51 and a two-hundred day simple moving average of $46.03.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last released its earnings results on Thursday, June 5th. The specialty chemicals company reported $0.80 EPS for the quarter. The company had revenue of $115.50 million during the quarter. Oil-Dri Corporation Of America had a net margin of 10.44% and a return on equity of 21.57%.

Oil-Dri Corporation Of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.19%. This is an increase from Oil-Dri Corporation Of America's previous quarterly dividend of $0.16. The ex-dividend date is Friday, August 8th. Oil-Dri Corporation Of America's dividend payout ratio is presently 18.24%.

Insider Transactions at Oil-Dri Corporation Of America

In other news, Director Ellen-Blair Chube sold 3,500 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $42.51, for a total value of $148,785.00. Following the transaction, the director directly owned 11,820 shares of the company's stock, valued at approximately $502,468.20. This represents a 22.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 11.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Large investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in Oil-Dri Corporation Of America by 97.6% during the 1st quarter. Rhumbline Advisers now owns 14,518 shares of the specialty chemicals company's stock valued at $667,000 after acquiring an additional 7,172 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Oil-Dri Corporation Of America by 94.6% during the first quarter. Janney Montgomery Scott LLC now owns 17,567 shares of the specialty chemicals company's stock worth $807,000 after purchasing an additional 8,542 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of Oil-Dri Corporation Of America by 100.0% during the first quarter. Miracle Mile Advisors LLC now owns 28,000 shares of the specialty chemicals company's stock worth $1,286,000 after purchasing an additional 14,000 shares during the last quarter. Two Sigma Investments LP acquired a new position in Oil-Dri Corporation Of America during the fourth quarter valued at $522,000. Finally, Cardinal Capital Management boosted its holdings in Oil-Dri Corporation Of America by 99.9% in the first quarter. Cardinal Capital Management now owns 95,433 shares of the specialty chemicals company's stock valued at $4,382,000 after purchasing an additional 47,683 shares during the last quarter. Hedge funds and other 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.