Oil-Dri Corporation Of America (NYSE:ODC) Trading Down 4.3% - Here's Why

Key Points

• Oil-Dri Corporation Of America's stock dropped 4.3% to a trading price of $62.06, with a 28% decrease in trading volume compared to the average session.
• Analysts maintain a consensus rating of Buy, with Weiss Ratings upgrading Oil-Dri to a strong-buy rating.
• The company announced a quarterly dividend of $0.18 per share, to be paid on November 21st, representing an annual yield of 1.2%.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) traded down 4.3% during mid-day trading on Monday . The company traded as low as $62.53 and last traded at $62.06. 36,915 shares were traded during trading, a decline of 28% from the average session volume of 51,456 shares. The stock had previously closed at $64.82.

Analyst Ratings Changes

A number of research firms recently weighed in on ODC. Weiss Ratings restated a "buy (b)" rating on shares of Oil-Dri Corporation Of America in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Oil-Dri Corporation Of America from a "buy" rating to a "strong-buy" rating in a report on Saturday. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy".

Oil-Dri Corporation Of America Stock Down 5.1%

The company has a current ratio of 2.56, a quick ratio of 1.82 and a debt-to-equity ratio of 0.15. The company's 50 day moving average price is $61.51 and its two-hundred day moving average price is $54.77. The firm has a market cap of $900.27 million, a PE ratio of 16.58 and a beta of 0.70.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last announced its quarterly earnings results on Thursday, October 9th. The specialty chemicals company reported $0.89 earnings per share (EPS) for the quarter. The company had revenue of $125.21 million for the quarter. Oil-Dri Corporation Of America had a net margin of 11.12% and a return on equity of 22.36%.

Oil-Dri Corporation Of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Friday, November 7th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. Oil-Dri Corporation Of America's payout ratio is presently 19.46%.

Insider Transactions at Oil-Dri Corporation Of America

In related news, VP Christopher B. Lamson sold 2,500 shares of the business's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $61.75, for a total transaction of $154,375.00. Following the completion of the transaction, the vice president directly owned 11,453 shares of the company's stock, valued at $707,222.75. The trade was a 17.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy Ryan sold 1,000 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $60.62, for a total value of $60,620.00. Following the completion of the transaction, the director owned 2,900 shares in the company, valued at $175,798. This trade represents a 25.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 11.66% of the company's stock.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Oil-Dri Corporation Of America by 87.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 16,876 shares of the specialty chemicals company's stock worth $775,000 after purchasing an additional 7,863 shares during the last quarter. Rhumbline Advisers raised its stake in Oil-Dri Corporation Of America by 97.6% during the first quarter. Rhumbline Advisers now owns 14,518 shares of the specialty chemicals company's stock worth $667,000 after acquiring an additional 7,172 shares during the period. Informed Momentum Co LLC acquired a new stake in Oil-Dri Corporation Of America during the first quarter worth about $915,000. New York State Teachers Retirement System raised its stake in Oil-Dri Corporation Of America by 98.0% during the first quarter. New York State Teachers Retirement System now owns 891 shares of the specialty chemicals company's stock worth $41,000 after acquiring an additional 441 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Oil-Dri Corporation Of America by 103.3% during the first quarter. Bank of New York Mellon Corp now owns 97,052 shares of the specialty chemicals company's stock worth $4,457,000 after acquiring an additional 49,312 shares during the period. 49.01% of the stock is owned by hedge funds and other institutional investors.

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.

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