Short Interest in Oil-Dri Co. of America (NYSE:ODC) Expands By 28.2%

Oil-Dri Co. of America (NYSE:ODC) saw a significant growth in short interest in June. As of June 15th, there was short interest totalling 80,900 shares, a growth of 28.2% from the May 31st total of 63,100 shares. Based on an average daily trading volume, of 20,500 shares, the short-interest ratio is currently 3.9 days. Currently, 1.7% of the shares of the stock are short sold.

Oil-Dri Co. of America Trading Down 0.2 %

Shares of ODC stock opened at $64.09 on Friday. The company has a market cap of $466.96 million, a PE ratio of 10.79 and a beta of 0.69. Oil-Dri Co. of America has a 1 year low of $54.80 and a 1 year high of $87.32. The stock’s 50 day simple moving average is $74.41 and its two-hundred day simple moving average is $71.10. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.06 and a quick ratio of 2.18.

Oil-Dri Co. of America (NYSE:ODC) last released its quarterly earnings results on Thursday, June 6th. The specialty chemicals company reported $1.07 earnings per share for the quarter. The company had revenue of $106.78 million for the quarter. Oil-Dri Co. of America had a return on equity of 22.80% and a net margin of 9.93%.

Oil-Dri Co. of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, August 9th. This is a positive change from Oil-Dri Co. of America’s previous quarterly dividend of $0.29. Oil-Dri Co. of America’s payout ratio is 20.88%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Oil-Dri Co. of America from a “hold” rating to a “buy” rating in a report on Monday, June 24th.

Insider Buying and Selling

In other Oil-Dri Co. of America news, Director George C. Roeth sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $65.00, for a total transaction of $97,500.00. Following the completion of the transaction, the director now owns 4,000 shares in the company, valued at approximately $260,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oil-Dri Co. of America

Hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC purchased a new stake in shares of Oil-Dri Co. of America in the first quarter valued at approximately $245,000. Hillsdale Investment Management Inc. grew its position in shares of Oil-Dri Co. of America by 7.7% during the 1st quarter. Hillsdale Investment Management Inc. now owns 68,400 shares of the specialty chemicals company’s stock worth $5,100,000 after buying an additional 4,900 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Oil-Dri Co. of America by 1.3% during the first quarter. Vanguard Group Inc. now owns 278,096 shares of the specialty chemicals company’s stock valued at $20,735,000 after buying an additional 3,676 shares during the period. Blair William & Co. IL bought a new stake in shares of Oil-Dri Co. of America in the first quarter valued at about $204,000. Finally, Janney Montgomery Scott LLC lifted its stake in Oil-Dri Co. of America by 9.1% in the first quarter. Janney Montgomery Scott LLC now owns 8,490 shares of the specialty chemicals company’s stock worth $633,000 after acquiring an additional 705 shares during the period. Institutional investors own 49.01% of the company’s stock.

Oil-Dri Co. of America Company Profile

Oil-Dri Corporation of America, together with its subsidiaries, develops, manufactures, and markets sorbent products in the United States and internationally. It operates in two segments, Retail and Wholesale Products Group, and Business to Business Products Group. The company provides agricultural and horticultural products, including mineral-based absorbent products that serve as carriers for biological and chemical active ingredients, drying agents, and growing media under the Agsorb, Verge, and Flo-Fre brand names.