Oil-Dri Co. of America (NYSE:ODC) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Oil-Dri Co. of America (NYSE:ODC)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $69.09 and traded as high as $70.83. Oil-Dri Co. of America shares last traded at $69.50, with a volume of 26,256 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Oil-Dri Co. of America from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd.

Oil-Dri Co. of America Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.39 and a current ratio of 2.21. The stock has a fifty day simple moving average of $67.03 and a two-hundred day simple moving average of $69.09. The stock has a market cap of $506.38 million, a PE ratio of 11.70 and a beta of 0.59.

Shares of Oil-Dri Co. of America are scheduled to split on the morning of Friday, November 22nd. The 2-1 split was announced on Wednesday, October 9th. The newly created shares will be distributed to shareholders after the market closes on Thursday, November 21st.

Oil-Dri Co. of America (NYSE:ODC) last issued its quarterly earnings results on Thursday, October 10th. The specialty chemicals company reported $1.17 EPS for the quarter. Oil-Dri Co. of America had a return on equity of 20.06% and a net margin of 9.01%. The firm had revenue of $113.70 million during the quarter.

Oil-Dri Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.78%. Oil-Dri Co. of America’s dividend payout ratio (DPR) is presently 20.88%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC bought a new position in shares of Oil-Dri Co. of America during the second quarter worth about $1,181,000. American Century Companies Inc. increased its holdings in shares of Oil-Dri Co. of America by 24.3% in the 2nd quarter. American Century Companies Inc. now owns 111,348 shares of the specialty chemicals company’s stock valued at $7,136,000 after acquiring an additional 21,740 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Oil-Dri Co. of America by 1,617.3% during the 2nd quarter. Victory Capital Management Inc. now owns 22,685 shares of the specialty chemicals company’s stock valued at $1,454,000 after acquiring an additional 21,364 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Oil-Dri Co. of America by 9.1% during the first quarter. Janney Montgomery Scott LLC now owns 8,490 shares of the specialty chemicals company’s stock worth $633,000 after purchasing an additional 705 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Oil-Dri Co. of America by 1.3% in the first quarter. Vanguard Group Inc. now owns 278,096 shares of the specialty chemicals company’s stock worth $20,735,000 after purchasing an additional 3,676 shares during the period. 49.01% of the stock is owned by institutional investors and hedge funds.

About Oil-Dri Co. of America

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.