Oil-Dri Co. of America (NYSE:ODC) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 32,800 shares, a growth of 55.5% from the May 30th total of 21,100 shares. Based on an average trading volume of 6,700 shares, the days-to-cover ratio is presently 4.9 days. Approximately 0.7% of the company’s shares are sold short.

Oil-Dri Co. of America stock traded up $0.24 during trading hours on Friday, hitting $32.59. The company had a trading volume of 1,502 shares, compared to its average volume of 6,182. The firm has a market capitalization of $246.35 million, a price-to-earnings ratio of 21.32 and a beta of 1.07. The company has a quick ratio of 1.91, a current ratio of 2.76 and a debt-to-equity ratio of 0.02. The company’s fifty day moving average is $30.88. Oil-Dri Co. of America has a fifty-two week low of $24.25 and a fifty-two week high of $46.55.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.07%. The ex-dividend date is Thursday, August 15th. This is a positive change from Oil-Dri Co. of America’s previous quarterly dividend of $0.24.

In related news, Director Paul Hindsley acquired 2,788 shares of the company’s stock in a transaction on Monday, June 24th. The shares were purchased at an average price of $30.29 per share, for a total transaction of $84,448.52. Following the purchase, the director now owns 2,126 shares in the company, valued at $64,396.54. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.04% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cardinal Capital Management increased its stake in shares of Oil-Dri Co. of America by 1.3% during the 2nd quarter. Cardinal Capital Management now owns 36,016 shares of the specialty chemicals company’s stock worth $1,226,000 after purchasing an additional 453 shares during the last quarter. Kessler Investment Group LLC boosted its holdings in shares of Oil-Dri Co. of America by 69.5% during the 1st quarter. Kessler Investment Group LLC now owns 1,910 shares of the specialty chemicals company’s stock worth $59,000 after buying an additional 783 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Oil-Dri Co. of America by 527.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,060 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 891 shares during the period. Bank of America Corp DE boosted its holdings in shares of Oil-Dri Co. of America by 29.4% during the 4th quarter. Bank of America Corp DE now owns 5,724 shares of the specialty chemicals company’s stock worth $152,000 after buying an additional 1,302 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Oil-Dri Co. of America by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 42,678 shares of the specialty chemicals company’s stock worth $1,130,000 after buying an additional 2,164 shares during the period. Institutional investors own 51.36% of the company’s stock.

ODC has been the topic of several research reports. TheStreet upgraded shares of South Jersey Industries from a “c+” rating to a “b-” rating in a research note on Tuesday. ValuEngine upgraded shares of Zillow Group from a “hold” rating to a “buy” rating in a research note on Thursday.

Oil-Dri Co. of America Company Profile

Oil-Dri Corporation of America develops, manufactures, and markets sorbent products in the United States and internationally. It operates through 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, which serve as chemical carriers, drying agents, and growing media under the Agsorb, Verge, Flo-Fre, and Terra-Green brand names.

Further Reading: Are sell-side analysts objective?

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