Oil-Dri Corporation Of America (NYSE:ODC) Share Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Oil-Dri shares moved above their 200-day moving average, reaching $90.42 and recently trading near $90.22, versus a 200-day average of $78.76.
• Analyst sentiment remains positive, with MarketBeat reporting an average “Buy” rating; however, one source downgraded the stock from “strong buy” to “buy.”
• The company reported quarterly EPS of $1.00 on $126.33 million in revenue and raised its quarterly dividend to $0.225 per share, while institutional investors own about 49% of the stock.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $78.76 and traded as high as $90.42. Oil-Dri Corporation Of America shares last traded at $90.2220, with a volume of 85,320 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ODC. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Oil-Dri Corporation Of America in a research note on Wednesday, July 29th. Wall Street Zen cut Oil-Dri Corporation Of America from a "strong-buy" rating to a "buy" rating in a report on Saturday. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Oil-Dri Corporation Of America has an average rating of "Buy".

Oil-Dri Corporation Of America Stock Performance

The firm's fifty day simple moving average is $97.14 and its 200 day simple moving average is $78.76. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 23.19 and a beta of 0.78. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.28 and a quick ratio of 2.40.

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

Oil-Dri Corporation Of America Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.225 per share. This is a positive change from Oil-Dri Corporation Of America's previous quarterly dividend of $0.20. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 7th. Oil-Dri Corporation Of America's dividend payout ratio is presently 23.14%.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Oil-Dri Corporation Of America in the 2nd quarter valued at about $84,762,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Oil-Dri Corporation Of America in the 2nd quarter valued at approximately $11,267,000. Bard Associates Inc. acquired a new position in Oil-Dri Corporation Of America in the 2nd quarter valued at approximately $10,071,000. Bank of New York Mellon Corp purchased a new stake in Oil-Dri Corporation Of America in the 2nd quarter worth approximately $9,575,000. Finally, Needham Investment Management LLC boosted its stake in shares of Oil-Dri Corporation Of America by 10.7% during the 4th quarter. Needham Investment Management LLC now owns 635,000 shares of the specialty chemicals company's stock valued at $31,077,000 after buying an additional 61,500 shares during the period. 49.01% of the stock is currently owned by institutional investors and hedge funds.

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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