StockNews.com Upgrades Oil-Dri Co. of America (NYSE:ODC) to “Buy”

StockNews.com upgraded shares of Oil-Dri Co. of America (NYSE:ODC) from a hold rating to a buy rating in a research note released on Monday morning.

Oil-Dri Co. of America Stock Performance

NYSE ODC opened at $41.51 on Monday. The company’s 50 day simple moving average is $23.44 and its two-hundred day simple moving average is $18.88. The stock has a market capitalization of $302.90 million, a PE ratio of 6.71 and a beta of 0.53. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.63 and a quick ratio of 1.39. Oil-Dri Co. of America has a 1 year low of $29.47 and a 1 year high of $46.50.

Oil-Dri Co. of America (NYSE:ODC) last posted its quarterly earnings data on Monday, December 9th. The specialty chemicals company reported $0.56 earnings per share (EPS) for the quarter. Oil-Dri Co. of America had a return on equity of 21.84% and a net margin of 9.92%.

Oil-Dri Co. of America Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Friday, February 21st. Oil-Dri Co. of America’s dividend payout ratio (DPR) is currently 10.02%.

Insider Activity

In other Oil-Dri Co. of America news, VP Laura G. Scheland sold 10,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $17.32, for a total value of $173,175.00. Following the completion of the sale, the vice president now directly owns 61,360 shares of the company’s stock, valued at $1,062,601.80. The trade was a 14.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 11.66% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ODC. FMR LLC grew its position in Oil-Dri Co. of America by 81.6% during the 3rd quarter. FMR LLC now owns 445 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 200 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Oil-Dri Co. of America by 12.6% in the third quarter. JPMorgan Chase & Co. now owns 2,401 shares of the specialty chemicals company’s stock worth $166,000 after purchasing an additional 268 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Oil-Dri Co. of America in the third quarter worth $216,000. Janus Henderson Group PLC raised its holdings in Oil-Dri Co. of America by 30.2% during the 3rd quarter. Janus Henderson Group PLC now owns 4,253 shares of the specialty chemicals company’s stock valued at $293,000 after buying an additional 986 shares during the last quarter. Finally, Squarepoint Ops LLC raised its holdings in Oil-Dri Co. of America by 40.8% during the 2nd quarter. Squarepoint Ops LLC now owns 4,772 shares of the specialty chemicals company’s stock valued at $306,000 after buying an additional 1,383 shares during the last quarter. Hedge funds and other 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.