Oil-Dri Co. of America (NYSE:ODC) Sees Significant Drop in Short Interest

Oil-Dri Co. of America (NYSE:ODC - Get Free Report) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 80,000 shares, a decline of 16.1% from the September 30th total of 95,300 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average trading volume of 17,400 shares, the days-to-cover ratio is presently 4.6 days.

Insider Buying and Selling at Oil-Dri Co. of America

In related news, VP Laura G. Scheland sold 2,500 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $69.27, for a total transaction of $173,175.00. Following the sale, the vice president now owns 15,340 shares of the company's stock, valued at approximately $1,062,601.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.28% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ODC. BNP Paribas Financial Markets increased its stake in Oil-Dri Co. of America by 20.9% in the 1st quarter. BNP Paribas Financial Markets now owns 2,440 shares of the specialty chemicals company's stock worth $182,000 after purchasing an additional 421 shares during the period. Blair William & Co. IL bought a new stake in Oil-Dri Co. of America during the 1st quarter valued at $204,000. Janus Henderson Group PLC bought a new stake in Oil-Dri Co. of America during the 1st quarter valued at $245,000. Squarepoint Ops LLC boosted its position in Oil-Dri Co. of America by 40.8% during the 2nd quarter. Squarepoint Ops LLC now owns 4,772 shares of the specialty chemicals company's stock valued at $306,000 after buying an additional 1,383 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Oil-Dri Co. of America by 19.4% in the second quarter. Rhumbline Advisers now owns 6,871 shares of the specialty chemicals company's stock valued at $440,000 after acquiring an additional 1,115 shares during the period. Hedge funds and other institutional investors own 49.01% of the company's stock.

Oil-Dri Co. of America Price Performance

Oil-Dri Co. of America stock traded down $1.15 during mid-day trading on Monday, hitting $68.75. 14,098 shares of the company traded hands, compared to its average volume of 19,042. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.39 and a current ratio of 2.21. Oil-Dri Co. of America has a one year low of $54.80 and a one year high of $87.32. The stock has a market cap of $501.19 million, a price-to-earnings ratio of 12.64 and a beta of 0.59. The stock has a fifty day moving average price of $67.50 and a 200-day moving average price of $68.98.

Shares of Oil-Dri Co. of America are set to split before the market opens on Friday, November 22nd. The 2-1 split was announced on Wednesday, October 9th. The newly created shares will be issued to shareholders after the closing bell on Thursday, November 21st.

Oil-Dri Co. of America (NYSE:ODC - Get Free Report) last posted its quarterly earnings results on Thursday, October 10th. The specialty chemicals company reported $1.17 EPS for the quarter. Oil-Dri Co. of America had a net margin of 9.01% and a return on equity of 20.06%. The firm had revenue of $113.70 million for the quarter.

Oil-Dri Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, November 8th. This represents a $1.24 annualized dividend and a yield of 1.80%. Oil-Dri Co. of America's payout ratio is 22.79%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Oil-Dri Co. of America from a "buy" rating to a "hold" rating in a report on Tuesday, July 2nd.

About Oil-Dri Co. of America

Oil-Dri Corporation of America, together with its subsidiaries, develops, manufactures, and markets sorbent products in the United States and internationally. It operates in two segments, Retail and Wholesale Products Group, and Business to Business Products Group. The company provides agricultural and horticultural products, including mineral-based absorbent products that serve as carriers for biological and chemical active ingredients, drying agents, and growing media under the Agsorb, Verge, and Flo-Fre brand names.