Oil-Dri Corporation Of America (NYSE:ODC) Reaches New 12-Month High – What’s Next?

Oil-Dri Corporation Of America (NYSE:ODC) reached a new 52-week high on Wednesday . The stock traded as high as $99.25 and last traded at $99.40, with a volume of 64028 shares trading hands. The stock had previously closed at $94.74.

Analysts Set New Price Targets

Several analysts have recently weighed in on ODC shares. Wall Street Zen lowered shares of Oil-Dri Corporation Of America from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Weiss Ratings upgraded 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 equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Stock Performance

The stock’s 50-day moving average is $79.90 and its 200 day moving average is $66.50. The firm has a market cap of $1.43 billion, a P/E ratio of 25.44 and a beta of 0.81. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.40 and a current ratio of 3.28.

Oil-Dri Corporation Of America (NYSE:ODC) last announced its earnings results on Monday, June 8th. The specialty chemicals company reported $1.00 earnings per share for the quarter. The firm had revenue of $126.33 million during the quarter. Oil-Dri Corporation Of America had a net margin of 11.35% and a return on equity of 20.53%. During the same period in the previous year, the company posted $0.80 earnings per share.

Oil-Dri Corporation Of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a dividend of $0.225 per share. The ex-dividend date is Friday, August 7th. This is a positive change from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.20. This represents a $0.90 annualized dividend and a yield of 0.9%. Oil-Dri Corporation Of America’s dividend payout ratio is currently 21.08%.

Insider Buying and Selling at Oil-Dri Corporation Of America

In other news, 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 value of $101,553.40. Following the completion of the transaction, the director owned 8,930 shares in the company, valued at $652,425.80. This trade represents a 13.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.69% of the stock is owned by insiders.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Oil-Dri Corporation Of America by 79.0% during the 1st quarter. Royal Bank of Canada now owns 31,787 shares of the specialty chemicals company’s stock worth $1,460,000 after purchasing an additional 14,030 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Oil-Dri Corporation Of America by 108.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,792 shares of the specialty chemicals company’s stock worth $266,000 after buying an additional 3,010 shares during the period. Goldman Sachs Group Inc. raised its stake in Oil-Dri Corporation Of America by 122.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 87,725 shares of the specialty chemicals company’s stock worth $4,028,000 after purchasing an additional 48,309 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Oil-Dri Corporation Of America by 204.7% in the first quarter. Jane Street Group LLC now owns 19,498 shares of the specialty chemicals company’s stock valued at $895,000 after buying an additional 13,099 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Oil-Dri Corporation Of America by 44.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,338 shares of the specialty chemicals company’s stock worth $846,000 after purchasing an additional 4,386 shares in the last quarter. 49.01% of the stock is currently owned by institutional investors and hedge funds.

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.