Oil-Dri Corporation Of America (NYSE:ODC) Sets New 52-Week High - Should You Buy?

Key Points

• New 52-week high: ODC hit a new 52-week high in mid-day trading and was last around $74.86, with a market capitalization near $1.08 billion and a P/E of about 20.
• Analyst and institutional interest: Several analysts have moved to a "Buy" rating (consensus: Buy) and multiple institutional investors (including Goldman Sachs, RBC and Jane Street) have recently increased their positions, leaving institutional ownership around 49%.
• Dividend and insider activity: Oil‑Dri declared a quarterly dividend of $0.205 (annualized $0.82, ~1.1% yield) payable May 22, while company directors have recently sold shares, reducing their individual stakes (insider ownership ~11.7%).

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $74.38 and last traded at $74.8550, with a volume of 50484 shares trading hands. The stock had previously closed at $74.38.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ODC shares. Wall Street Zen upgraded shares of Oil-Dri Corporation Of America from a "hold" rating to a "buy" rating in a research note on Saturday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Oil-Dri Corporation Of America in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy".

Oil-Dri Corporation Of America Trading Up 0.1%

The company has a current ratio of 3.45, a quick ratio of 2.40 and a debt-to-equity ratio of 0.14. The business's fifty day simple moving average is $66.53 and its two-hundred day simple moving average is $59.48. The stock has a market capitalization of $1.08 billion, a P/E ratio of 20.18 and a beta of 0.79.

Oil-Dri Corporation Of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 8th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $0.82 dividend on an annualized basis and a yield of 1.1%. Oil-Dri Corporation Of America's dividend payout ratio is 22.22%.

Insiders Place Their Bets

In other news, Director Ellen-Blair Chube sold 1,390 shares of the firm's stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $73.06, for a total transaction of $101,553.40. Following the completion of the transaction, the director directly owned 8,930 shares of the company's stock, valued at approximately $652,425.80. This trade represents a 13.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Hindsley sold 6,000 shares of the firm's stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $63.90, for a total transaction of $383,400.00. Following the transaction, the director directly owned 11,000 shares of the company's stock, valued at $702,900. The trade was a 35.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 11.69% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

A number of hedge funds and other institutional investors have recently made changes to their positions in ODC. Royal Bank of Canada lifted its holdings in shares of Oil-Dri Corporation Of America by 79.0% during the 1st quarter. Royal Bank of Canada now owns 31,787 shares of the specialty chemicals company's stock worth $1,460,000 after acquiring an additional 14,030 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Oil-Dri Corporation Of America by 108.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,792 shares of the specialty chemicals company's stock valued at $266,000 after purchasing an additional 3,010 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Oil-Dri Corporation Of America by 122.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 87,725 shares of the specialty chemicals company's stock valued at $4,028,000 after purchasing an additional 48,309 shares during the last quarter. Jane Street Group LLC lifted its holdings in Oil-Dri Corporation Of America by 204.7% during the 1st quarter. Jane Street Group LLC now owns 19,498 shares of the specialty chemicals company's stock valued at $895,000 after purchasing an additional 13,099 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Oil-Dri Corporation Of America by 44.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,338 shares of the specialty chemicals company's stock valued at $846,000 after purchasing an additional 4,386 shares during the last quarter. 49.01% of the stock is owned by institutional investors.

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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