Oil-Dri Corporation Of America (NYSE:ODC) Shares Gap Up - Still a Buy?

Key Points

• Oil-Dri Corporation Of America's shares gapped up from $59.89 to $63.02, ultimately trading at $65.46, reflecting a significant 9.7% increase.
• The company recently announced a quarterly dividend of $0.18 per share, translating to an annualized yield of 1.1%.
• Wall Street ratings show a mix of opinions, with Weiss Ratings maintaining a "buy" rating, while Wall Street Zen downgraded its rating from "strong-buy" to "buy".

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $59.89, but opened at $63.02. Oil-Dri Corporation Of America shares last traded at $65.46, with a volume of 18,008 shares traded.

Wall Street Analyst Weigh In

A number of research firms have commented on ODC. Weiss Ratings reiterated a "buy (b)" rating on shares of Oil-Dri Corporation Of America in a research note on Wednesday. Wall Street Zen cut shares of Oil-Dri Corporation Of America from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 22nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy".

Oil-Dri Corporation Of America Stock Up 9.7%

The stock's 50-day moving average is $61.34 and its 200-day moving average is $54.51. The stock has a market cap of $961.94 million, a P/E ratio of 19.40 and a beta of 0.70. The company has a current ratio of 2.83, a quick ratio of 1.85 and a debt-to-equity ratio of 0.16.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last announced its earnings results on Thursday, October 9th. The specialty chemicals company reported $0.89 earnings per share (EPS) for the quarter. Oil-Dri Corporation Of America had a net margin of 10.44% and a return on equity of 21.57%. The firm had revenue of $125.21 million during the quarter.

Oil-Dri Corporation Of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Friday, November 7th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, November 7th. Oil-Dri Corporation Of America's dividend payout ratio (DPR) is presently 21.18%.

Insider Buying and Selling

In related news, Director Amy Ryan sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $60.62, for a total transaction of $60,620.00. Following the transaction, the director owned 2,900 shares of the company's stock, valued at approximately $175,798. This trade represents a 25.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher B. Lamson sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $61.75, for a total transaction of $154,375.00. Following the transaction, the vice president directly owned 11,453 shares in the company, valued at approximately $707,222.75. The trade was a 17.92% decrease in their position. The disclosure for this sale can be found here. 11.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Several hedge funds and other institutional investors have recently modified their holdings of ODC. Legal & General Group Plc boosted its stake in Oil-Dri Corporation Of America by 20.1% during the second quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company's stock worth $63,000 after buying an additional 178 shares in the last quarter. 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 valued at $30,000 after purchasing an additional 183 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Oil-Dri Corporation Of America by 25.1% in the second quarter. Ameritas Investment Partners Inc. now owns 1,013 shares of the specialty chemicals company's stock valued at $60,000 after buying an additional 203 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in shares of Oil-Dri Corporation Of America by 2.3% in the second quarter. Apollon Wealth Management LLC now owns 12,638 shares of the specialty chemicals company's stock valued at $746,000 after buying an additional 287 shares during the last quarter. Finally, Trust Co. of Vermont raised its holdings in shares of Oil-Dri Corporation Of America by 100.0% in the first quarter. Trust Co. of Vermont now owns 600 shares of the specialty chemicals company's stock valued at $28,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 49.01% of the company's stock.

Oil-Dri Corporation Of America Company Profile

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.

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