Oil-Dri Corporation Of America (NYSE:ODC) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Oil-Dri shares rose above their 200-day moving average, reaching $86.39 and last trading at $85.65, compared with the $83.02 average.
• Analyst sentiment remains positive: the stock has an average “Buy” rating, although Wall Street Zen recently downgraded it from “strong buy” to “buy.”
• Institutional ownership stands at 49.01%, with major investors including BlackRock, Diamond Hill, Bard Associates and Bank of New York Mellon acquiring positions during the second quarter.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $83.02 and traded as high as $86.39. Oil-Dri Corporation Of America shares last traded at $85.65, with a volume of 91,738 shares.

Analyst Upgrades and Downgrades

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

Oil-Dri Corporation Of America Trading Down 0.7%

The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 22.02 and a beta of 0.77. The company's 50-day moving average price is $93.82 and its 200-day moving average price is $83.02. The company has a quick ratio of 2.40, a current ratio of 3.28 and a debt-to-equity ratio of 0.14.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Several large investors have recently bought and sold shares of ODC. BlackRock Inc. purchased a new position in shares of Oil-Dri Corporation Of America in the second quarter valued at approximately $84,762,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Oil-Dri Corporation Of America during the second quarter worth approximately $11,267,000. Bard Associates Inc. purchased a new stake in shares of Oil-Dri Corporation Of America during the second quarter worth approximately $10,071,000. Bank of New York Mellon Corp acquired a new position in Oil-Dri Corporation Of America in the 2nd quarter valued at $9,575,000. Finally, Needham Investment Management LLC raised its stake in Oil-Dri Corporation Of America by 10.7% in 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 purchasing an additional 61,500 shares during the last quarter. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

About Oil-Dri Corporation Of America

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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