Oil-Dri Co. of America (NYSE:ODC) Hits New 1-Year High - Here's What Happened

Oil-Dri Co. of America (NYSE:ODC - Get Free Report)'s stock price reached a new 52-week high on Thursday . The company traded as high as $46.58 and last traded at $46.51, with a volume of 16451 shares changing hands. The stock had previously closed at $45.91.

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 Friday, February 28th.

Oil-Dri Co. of America Stock Up 2.2 %

The firm has a market capitalization of $692.75 million, a P/E ratio of 15.34 and a beta of 0.44. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.61 and a current ratio of 2.63. The business's fifty day moving average price is $43.10 and its two-hundred day moving average price is $27.42.

Oil-Dri Co. of America (NYSE:ODC - Get Free Report) last released its quarterly earnings results on Monday, December 9th. The specialty chemicals company reported $0.56 earnings per share for the quarter. Oil-Dri Co. of America had a net margin of 9.92% and a return on equity of 21.84%.

Remove Ads

Oil-Dri Co. of America Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Friday, February 21st. Oil-Dri Co. of America's payout ratio is currently 20.00%.

Insider Activity at Oil-Dri Co. of America

In other Oil-Dri Co. of America news, VP Christopher B. Lamson sold 3,154 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $42.75, for a total transaction of $134,833.50. Following the completion of the transaction, the vice president now directly owns 70,796 shares of the company's stock, valued at approximately $3,026,529. This trade represents a 4.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Amy Ryan sold 2,100 shares of the firm's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $41.78, for a total transaction of $87,738.00. Following the transaction, the director now directly owns 3,900 shares of the company's stock, valued at $162,942. This represents a 35.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oil-Dri Co. of America

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in Oil-Dri Co. of America by 12.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,401 shares of the specialty chemicals company's stock worth $166,000 after buying an additional 268 shares during the last quarter. Barclays PLC raised its position in Oil-Dri Co. of America by 41.5% during the 3rd quarter. Barclays PLC now owns 9,743 shares of the specialty chemicals company's stock worth $673,000 after buying an additional 2,859 shares during the last quarter. Franklin Resources Inc. purchased a new position in Oil-Dri Co. of America during the 3rd quarter worth approximately $216,000. State Street Corp raised its position in Oil-Dri Co. of America by 2.1% during the 3rd quarter. State Street Corp now owns 103,006 shares of the specialty chemicals company's stock worth $7,106,000 after buying an additional 2,114 shares during the last quarter. Finally, FMR LLC raised its position in Oil-Dri Co. of America by 81.6% during the 3rd quarter. FMR LLC now owns 445 shares of the specialty chemicals company's stock worth $31,000 after buying an additional 200 shares during the last quarter. 49.01% of the stock is owned by hedge funds and other institutional investors.

Oil-Dri Co. of America Company Profile

Oil-Dri Corporation of America is a manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets. It operates through the Business to Business Products Group and Retail and Wholesale Products Group segments.