Oil-Dri Corporation Of America (NYSE:ODC) Stock Crosses Below 200-Day Moving Average - Should You Sell?

Key Points

• Oil-Dri’s shares fell below their 200-day moving average, trading as low as $73.23 versus the $86.92 average, with the latest price near $75.49.
• Despite the technical weakness, analysts maintain a generally positive view: the stock has an average “Buy” rating, while the company recently reported $1.00 in quarterly EPS and $129.29 million in revenue.
• Oil-Dri declared a quarterly dividend of $0.225, equal to $0.90 annually and a 1.2% yield; however, two insiders recently sold shares, reducing their holdings.

Oil-Dri Corporation Of America (NYSE:ODC - Get Free Report)'s stock price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $86.92 and traded as low as $73.23. Oil-Dri Corporation Of America shares last traded at $75.4860, with a volume of 87,896 shares traded.

Analysts Set New Price Targets

ODC has been the subject of several research analyst reports. Wall Street Zen cut 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 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 Trading Up 0.6%

The company has a quick ratio of 2.28, a current ratio of 3.07 and a debt-to-equity ratio of 0.13. The stock's 50 day moving average is $87.04 and its 200-day moving average is $86.92. The company has a market cap of $1.09 billion, a PE ratio of 18.87 and a beta of 0.76.

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

Oil-Dri Corporation Of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be given a $0.2250 dividend. The ex-dividend date is Friday, November 6th. This represents a $0.90 annualized dividend and a yield of 1.2%. Oil-Dri Corporation Of America's dividend payout ratio (DPR) is currently 22.50%.

Insider Activity at Oil-Dri Corporation Of America

In other Oil-Dri Corporation Of America news, VP Christopher Lamson sold 7,000 shares of the business's stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $80.27, for a total transaction of $561,890.00. Following the sale, the vice president directly owned 4,453 shares of the company's stock, valued at $357,442.31. The trade was a 61.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amy Ryan sold 1,100 shares of the company's stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $78.80, for a total value of $86,680.00. Following the sale, the director owned 2,800 shares in the company, valued at approximately $220,640. This trade represents a 28.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 11.69% of the company's stock.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Oil-Dri Corporation Of America during the second quarter valued at $84,762,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Oil-Dri Corporation Of America in the second quarter valued at $11,267,000. Bard Associates Inc. purchased a new stake in shares of Oil-Dri Corporation Of America in the second quarter valued at $10,071,000. Bank of New York Mellon Corp bought a new stake in shares of Oil-Dri Corporation Of America in the 2nd quarter worth about $9,575,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Oil-Dri Corporation Of America by 17.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 85,264 shares of the specialty chemicals company's stock worth $5,550,000 after acquiring an additional 12,462 shares during 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, industrial, agricultural and sports-related applications. Founded in 1941 and headquartered in Chicago, Illinois, the company processes clay and other mineral materials into products designed to absorb liquids, control odors, improve soil performance and support a range of commercial uses.

Its consumer products include cat litter and related pet-care products marketed under brands such as Cat's Pride and Jonny Cat.

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