Oil-Dri Corporation Of America (NYSE:ODC) Reaches New 12-Month High – Time to Buy?

Oil-Dri Corporation Of America (NYSE:ODC) shares hit a new 52-week high on Wednesday . The stock traded as high as $79.23 and last traded at $78.69, with a volume of 113150 shares changing hands. The stock had previously closed at $76.64.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ODC shares. Wall Street Zen cut shares of Oil-Dri Corporation Of America from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings raised shares of Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Oil-Dri Corporation Of America Stock Down 2.2%

The firm has a market cap of $1.12 billion, a PE ratio of 21.02 and a beta of 0.82. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.40 and a current ratio of 3.45. The company’s 50-day simple moving average is $71.36 and its two-hundred day simple moving average is $62.20.

Oil-Dri Corporation Of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 8th. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is currently 22.22%.

Insider Activity

In other news, Director Paul Hindsley sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $63.90, for a total value of $383,400.00. Following the completion of the sale, the director directly owned 11,000 shares of the company’s stock, valued at approximately $702,900. This trade represents a 35.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ellen-Blair Chube sold 1,390 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $73.06, for a total transaction of $101,553.40. Following the completion of the sale, the director directly owned 8,930 shares of the company’s stock, valued at approximately $652,425.80. This represents a 13.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 11.69% of the company’s stock.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Oil-Dri Corporation Of America by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 641,978 shares of the specialty chemicals company’s stock worth $39,186,000 after purchasing an additional 8,951 shares during the period. Needham Investment Management LLC lifted its position in Oil-Dri Corporation Of America by 10.7% during the 4th quarter. Needham Investment Management LLC now owns 635,000 shares of the specialty chemicals company’s stock valued at $31,077,000 after acquiring an additional 61,500 shares during the period. American Century Companies Inc. lifted its position in Oil-Dri Corporation Of America by 9.6% during the 3rd quarter. American Century Companies Inc. now owns 401,152 shares of the specialty chemicals company’s stock valued at $24,486,000 after acquiring an additional 35,302 shares during the period. Geode Capital Management LLC lifted its position in Oil-Dri Corporation Of America by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 273,483 shares of the specialty chemicals company’s stock valued at $13,386,000 after acquiring an additional 10,102 shares during the period. Finally, State Street Corp lifted its position in Oil-Dri Corporation Of America by 3.2% during the 4th quarter. State Street Corp now owns 223,605 shares of the specialty chemicals company’s stock valued at $10,943,000 after acquiring an additional 7,005 shares during the period. 49.01% of the stock is owned by hedge funds and other institutional investors.

About Oil-Dri Corporation Of America

Oil-Dri Corporation of America is a specialty materials company that develops, manufactures and markets sorbent and filtration products for industrial, environmental and consumer applications. Its flagship offerings include clay- and diatomaceous earth–based cat litters, calcium silicate absorbents for spill control and cleanup, and purification media designed to remove contaminants from petroleum, chemical and food-processing streams.

Founded in 1941 and headquartered in Chicago, Illinois, the company has evolved from a single-product operation into a diversified provider of mineral- and chemical-based solutions.