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

Key Points

• Oil‑Dri hit a new 52‑week high intraday (high $75.50, last $76.4620) and has a market cap of about $1.09B, P/E of 20.44, low leverage (debt/equity 0.14) and 50-/200‑day SMAs of $67.59/$59.93.
• Recent analyst action lifted sentiment—Wall Street Zen and Weiss Ratings upgraded ODC to Buy, and MarketBeat shows a consensus rating of Buy.
• The company declared a quarterly dividend of $0.205 (annualized $0.82, yield 1.1%) with an ex‑dividend date of May 8 and payment on May 22, while insiders have recently sold shares and own roughly 11.7% of the stock.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $75.50 and last traded at $76.4620, with a volume of 1987 shares trading hands. The stock had previously closed at $74.71.

Analysts Set New Price Targets

ODC has been the topic of several research analyst reports. Wall Street Zen upgraded Oil-Dri Corporation Of America from a "hold" rating to a "buy" rating in a research note on Saturday, April 25th. Weiss Ratings upgraded Oil-Dri Corporation Of America from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy".

Oil-Dri Corporation Of America Price Performance

The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 20.44 and a beta of 0.82. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.40 and a current ratio of 3.45. The business has a 50 day simple moving average of $67.59 and a 200-day simple moving average of $59.93.

Oil-Dri Corporation Of America Dividend Announcement

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Oil-Dri Corporation Of America

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its stake 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 buying an additional 183 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Oil-Dri Corporation Of America in the 2nd quarter worth approximately $45,000. Fifth Third Bancorp bought a new stake in shares of Oil-Dri Corporation Of America in the 1st quarter worth approximately $54,000. Legal & General Group Plc raised its holdings in shares of 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 worth $63,000 after purchasing an additional 178 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in shares of 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 worth $91,000 after purchasing an additional 1,472 shares during the period. Hedge funds and other institutional investors own 49.01% of the company's stock.

Oil-Dri Corporation Of America Company Profile

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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