Oil-Dri Corporation Of America (NYSE:ODC) Shares Down 6.2% - Time to Sell?

Key Points

• Oil-Dri shares fell 6.2% to about $80.55 in mid-day trading, below both the 50-day and 200-day moving averages, while trading volume was lighter than average.
• Analysts remain broadly positive, with the stock holding an average “Buy” rating, although Wall Street Zen recently downgraded it from “strong buy” to “buy.”
• The company reported quarterly earnings of $1.00 per share on $129.29 million in revenue and declared a $0.225 quarterly dividend, equivalent to a 1.1% yield and a 22.5% payout ratio.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report)'s stock price fell 6.2% during mid-day trading on Thursday. The company traded as low as $81.00 and last traded at $80.5490. 78,497 shares changed hands during trading, a decline of 18% from the average daily volume of 96,186 shares. The stock had previously closed at $85.85.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wall Street Zen lowered Oil-Dri Corporation Of America from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a "buy (b)" rating on shares of Oil-Dri Corporation Of America in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the company presently has an average rating of "Buy".

Oil-Dri Corporation Of America Stock Performance

The firm has a 50-day moving average price of $89.22 and a two-hundred day moving average price of $86.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.07 and a quick ratio of 2.28. The firm has a market capitalization of $1.17 billion, a P/E ratio of 20.10 and a beta of 0.76.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report) last released its quarterly earnings data on Thursday, October 8th. The specialty chemicals company reported $1.00 earnings per share for the quarter. The firm had revenue of $129.29 million during the quarter. Oil-Dri Corporation Of America had a return on equity of 20.31% and a net margin of 11.54%.

Oil-Dri Corporation Of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be given a dividend of $0.2250 per share. This represents a $0.90 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 6th. Oil-Dri Corporation Of America's dividend payout ratio (DPR) is presently 22.50%.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

Several hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC grew its stake 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 valued at $393,000 after purchasing an additional 184 shares in the last quarter. Sheets Smith Wealth Management grew its holdings in shares of Oil-Dri Corporation Of America by 2.2% during the second 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 worth about $61,000. Fifth Third Bancorp acquired a new position in Oil-Dri Corporation Of America during the 1st quarter valued at about $54,000. Finally, Quantinno Capital Management LP boosted its stake in Oil-Dri Corporation Of America by 16.4% during the 1st quarter. Quantinno Capital Management LP now owns 8,944 shares of the specialty chemicals company's stock valued at $582,000 after purchasing an additional 1,259 shares in 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 mineral-based products designed to absorb, filter and control liquids and odors. The company serves consumer, industrial, agricultural and specialty markets, using products such as fuller's earth and other absorbent minerals in a range of applications.

Its consumer products include cat litter and related animal-care products sold under brands such as Cat's Pride and Jonny Cat. Oil-Dri also supplies absorbent products for industrial and commercial uses, including spill cleanup, oil and grease absorption, moisture control, filtration, sports-field maintenance and other specialized applications.

Founded in 1941, Oil-Dri is headquartered in Chicago, Illinois.

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