Oil-Dri Corporation Of America (NYSE:ODC) Sees Large Volume Increase - Should You Buy?

Key Points

• Oil-Dri shares rose to $90.37 in Monday trading, despite volume falling 24% from the previous session; the company has a $1.30 billion market capitalization and trades at a P/E ratio of 23.10.
• Analyst sentiment remains positive: Weiss Ratings reiterated a “Buy” rating, while Wall Street Zen downgraded the stock from “Strong Buy” to “Buy.” MarketBeat reports an average rating of “Buy.”
• Institutional investors own 49.01% of the company, with several firms increasing their positions. Oil-Dri manufactures absorbent mineral products, including Cat’s Pride and Jonny Cat pet-care products and industrial cleanup materials.

Shares of Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) saw strong trading volume on Monday. Approximately 69,650 shares were traded during trading, a decline of 24% from the previous session's volume of 92,151 shares. The stock last traded at $90.3650 and had previously closed at $88.60.

Analyst Ratings Changes

Several research firms recently commented on ODC. Weiss Ratings reiterated a "buy (b)" rating on shares of Oil-Dri Corporation Of America in a research note on Wednesday, July 29th. Wall Street Zen lowered shares of Oil-Dri Corporation Of America from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy".

Oil-Dri Corporation Of America Stock Performance

The firm has a fifty day simple moving average of $91.73 and a 200 day simple moving average of $84.30. The company has a current ratio of 3.28, a quick ratio of 2.40 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 23.10 and a beta of 0.77.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Institutional investors and hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC grew its position in Oil-Dri Corporation Of America by 5.0% during the 2nd quarter. HighTower Advisors LLC now owns 3,847 shares of the specialty chemicals company's stock worth $393,000 after acquiring an additional 184 shares during the last quarter. Sheets Smith Wealth Management raised its position in Oil-Dri Corporation Of America by 2.2% in the 2nd quarter. Sheets Smith Wealth Management now owns 8,911 shares of the specialty chemicals company's stock valued at $911,000 after purchasing an additional 195 shares during the last quarter. Trust Co. of Vermont bought a new position in Oil-Dri Corporation Of America in the 2nd quarter valued at $61,000. Fifth Third Bancorp bought a new position in Oil-Dri Corporation Of America in the 1st quarter valued at $54,000. Finally, Quantinno Capital Management LP boosted its stake in Oil-Dri Corporation Of America by 16.4% in the first quarter. Quantinno Capital Management LP now owns 8,944 shares of the specialty chemicals company's stock worth $582,000 after purchasing an additional 1,259 shares in the last quarter. Institutional investors own 49.01% of the company's stock.

Oil-Dri Corporation Of America Company Profile

Oil-Dri Corporation of America develops, manufactures and markets absorbent mineral products for consumer and business customers. Its products are based primarily on attapulgite and other clay minerals and are designed to absorb liquids, control odors and improve handling in a range of applications.

The company's consumer products include cat litter and related pet-care products sold under brands such as Cat's Pride and Jonny Cat. Oil-Dri also supplies absorbent products used in industrial, automotive, agricultural, sports and other commercial applications, including products for fluid cleanup, waste management, turf maintenance and animal care.

Founded in 1941, Oil-Dri is headquartered in Chicago, Illinois, and serves customers through retail, industrial and agricultural markets in the United States and selected international markets.

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