Diamond Hill Capital Management LLC Investment Advisor Purchases New Position in Oil-Dri Corporation Of America $ODC

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Oil-Dri Corporation Of America (NYSE:ODC) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 110,231 shares of the specialty chemicals company’s stock, valued at approximately $11,267,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Oil-Dri Corporation Of America by 79.0% in the first quarter. Royal Bank of Canada now owns 31,787 shares of the specialty chemicals company’s stock worth $1,460,000 after buying an additional 14,030 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 acquiring an additional 3,010 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Oil-Dri Corporation Of America by 122.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 87,725 shares of the specialty chemicals company’s stock worth $4,028,000 after acquiring an additional 48,309 shares in the last quarter. Jane Street Group LLC boosted its holdings in Oil-Dri Corporation Of America by 204.7% in the 1st quarter. Jane Street Group LLC now owns 19,498 shares of the specialty chemicals company’s stock worth $895,000 after acquiring an additional 13,099 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Oil-Dri Corporation Of America by 44.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,338 shares of the specialty chemicals company’s stock worth $846,000 after acquiring an additional 4,386 shares during the period. Institutional investors and hedge funds own 49.01% of the company’s stock.

Analyst Upgrades and Downgrades

ODC has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Oil-Dri Corporation Of America from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Oil-Dri Corporation Of America Trading Up 2.2%

ODC opened at $92.39 on Tuesday. Oil-Dri Corporation Of America has a 12-month low of $45.61 and a 12-month high of $107.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.28 and a quick ratio of 2.40. The stock has a market capitalization of $1.34 billion, a PE ratio of 23.75 and a beta of 0.78. The firm’s fifty day moving average price is $97.31 and its 200 day moving average price is $79.15.

Oil-Dri Corporation Of America (NYSE:ODC) last announced its quarterly earnings data on Monday, June 8th. The specialty chemicals company reported $1.00 earnings per share for the quarter. The company 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 prior year, the business earned $0.80 earnings per share.

Oil-Dri Corporation Of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a $0.225 dividend. This is an increase from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.20. This represents a $0.90 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 7th. Oil-Dri Corporation Of America’s dividend payout ratio is presently 23.14%.

Oil-Dri Corporation Of America Profile

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.