Oil-Dri Corporation Of America (NYSE:ODC) Trading Down 6.1% - Here's What Happened

Key Points

• Oil-Dri shares fell 6.1% to about $90.63 in Friday trading, with volume down 81% versus the average. The stock remains covered favorably, with a consensus “Buy” rating.
• The company reported quarterly EPS of $1.00 on $126.33 million in revenue, compared with $0.80 EPS in the same quarter a year earlier.
• Oil-Dri raised its quarterly dividend to $0.225 per share, or $0.90 annualized, representing a 1.0% yield and a payout ratio of 21.08%.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) dropped 6.1% on Friday . The company traded as low as $90.83 and last traded at $90.6250. 16,564 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 85,426 shares. The stock had previously closed at $96.55.

Wall Street Analyst Weigh In

ODC has been the topic of a number of analyst reports. 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 raised Oil-Dri Corporation Of America from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy".

Oil-Dri Corporation Of America Trading Down 5.1%

The company has a quick ratio of 2.40, a current ratio of 3.28 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.33 billion, a PE ratio of 23.56 and a beta of 0.78. The stock's fifty day moving average price is $96.01 and its two-hundred day moving average price is $77.58.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last announced its quarterly earnings results on Monday, June 8th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter. The company had revenue of $126.33 million for the quarter. Oil-Dri Corporation Of America had a return on equity of 20.53% and a net margin of 11.35%.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 announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.0%. This is a boost from Oil-Dri Corporation Of America's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, August 7th. Oil-Dri Corporation Of America's payout ratio is presently 21.08%.

Institutional Trading of Oil-Dri Corporation Of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL grew its holdings in shares of Oil-Dri Corporation Of America by 190.4% during the 3rd quarter. Tudor Investment Corp ET AL now owns 52,935 shares of the specialty chemicals company's stock worth $3,231,000 after acquiring an additional 34,706 shares during the period. Needham Investment Management LLC boosted its position in shares of Oil-Dri Corporation Of America by 10.7% during the fourth quarter. Needham Investment Management LLC now owns 635,000 shares of the specialty chemicals company's stock valued at $31,077,000 after purchasing an additional 61,500 shares in the last quarter. Barnett & Company Inc. grew its stake in Oil-Dri Corporation Of America by 116.5% in the first quarter. Barnett & Company Inc. now owns 26,850 shares of the specialty chemicals company's stock worth $1,748,000 after purchasing an additional 14,450 shares during the period. Diamond Hill Capital Management Inc. grew its stake in Oil-Dri Corporation Of America by 12.9% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 141,178 shares of the specialty chemicals company's stock worth $6,909,000 after purchasing an additional 16,124 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in Oil-Dri Corporation Of America by 17.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 85,264 shares of the specialty chemicals company's stock worth $5,550,000 after purchasing an additional 12,462 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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