Oil-Dri Corporation Of America (NYSE:ODC) Hits New 12-Month High – Here’s Why

Oil-Dri Corporation Of America (NYSE:ODC) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $70.00 and last traded at $69.3750, with a volume of 38312 shares trading hands. The stock had previously closed at $67.84.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a research report on Monday, December 22nd. Wall Street Zen cut Oil-Dri Corporation Of America from a “strong-buy” rating to a “hold” rating in a report on Saturday, December 13th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Oil-Dri Corporation Of America Trading Up 1.7%

The company has a market capitalization of $1.01 billion, a P/E ratio of 18.96 and a beta of 0.78. The business has a fifty day moving average of $57.44 and a 200-day moving average of $58.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.23 and a current ratio of 3.34.

Oil-Dri Corporation Of America (NYSE:ODC) last posted its earnings results on Monday, December 8th. The specialty chemicals company reported $1.06 earnings per share for the quarter. The company had revenue of $120.49 million for the quarter. Oil-Dri Corporation Of America had a net margin of 11.10% and a return on equity of 21.06%. During the same quarter in the prior year, the company earned $2.25 EPS.

Oil-Dri Corporation Of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.82 annualized dividend and a dividend yield of 1.2%. This is an increase from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.18. Oil-Dri Corporation Of America’s payout ratio is 22.53%.

Institutional Trading of Oil-Dri Corporation Of America

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its position in Oil-Dri Corporation Of America by 57.4% in the second quarter. Russell Investments Group Ltd. now owns 502 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 183 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Oil-Dri Corporation Of America during the 2nd quarter worth $45,000. Ameritas Investment Partners Inc. boosted its holdings in shares of Oil-Dri Corporation Of America by 25.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,013 shares of the specialty chemicals company’s stock worth $60,000 after buying an additional 203 shares during the last quarter. Legal & General Group Plc grew its position in Oil-Dri Corporation Of America by 20.1% during the second quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company’s stock valued at $63,000 after buying an additional 178 shares during the period. Finally, Copeland Capital Management LLC bought a new position in Oil-Dri Corporation Of America during the third quarter valued at about $67,000. 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.