Oil-Dri Corporation Of America (NYSE:ODC) Stock Crosses Above 200 Day Moving Average – Here’s Why

Oil-Dri Corporation Of America (NYSE:ODC)’s share price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $83.92 and traded as high as $92.40. Oil-Dri Corporation Of America shares last traded at $90.2350, with a volume of 80,294 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ODC shares. Wall Street Zen downgraded Oil-Dri Corporation Of America from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy”.

Oil-Dri Corporation Of America Stock Performance

The company’s fifty day simple moving average is $91.90 and its two-hundred day simple moving average is $84.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.40 and a current ratio of 3.28. The stock has a market capitalization of $1.28 billion, a P/E ratio of 22.80 and a beta of 0.77.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Oil-Dri Corporation Of America during the 2nd quarter worth approximately $84,762,000. Needham Investment Management LLC raised its holdings in Oil-Dri Corporation Of America by 10.7% in 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 in the last quarter. Royce & Associates LP increased its position in shares of Oil-Dri Corporation Of America by 18.4% in the fourth quarter. Royce & Associates LP now owns 113,314 shares of the specialty chemicals company’s stock worth $5,546,000 after purchasing an additional 17,614 shares during the period. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Oil-Dri Corporation Of America during the second quarter worth about $11,267,000. Finally, Bard Associates Inc. bought a new position in Oil-Dri Corporation Of America in the 2nd quarter valued at about $10,071,000. 49.01% of the stock is owned by institutional investors.

About Oil-Dri Corporation Of America

Oil-Dri Corporation of America develops, manufactures and markets absorbent mineral products for consumer and business customers. Its products are based primarily on attapulgite and other clay minerals and are designed to absorb liquids, control odors and improve handling in a range of applications.

The company’s consumer products include cat litter and related pet-care products sold under brands such as Cat’s Pride and Jonny Cat. Oil-Dri also supplies absorbent products used in industrial, automotive, agricultural, sports and other commercial applications, including products for fluid cleanup, waste management, turf maintenance and animal care.

Founded in 1941, Oil-Dri is headquartered in Chicago, Illinois, and serves customers through retail, industrial and agricultural markets in the United States and selected international markets.