Oil-Dri Co. of America (NYSE:ODC) Rating Increased to Buy at StockNews.com

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

Oil-Dri Co. of America Stock Up 0.3 %

Shares of NYSE:ODC opened at $45.84 on Wednesday. Oil-Dri Co. of America has a 1-year low of $29.47 and a 1-year high of $49.72. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.63 and a quick ratio of 1.61. The stock has a market cap of $669.06 million, a P/E ratio of 14.81 and a beta of 0.44. The firm has a fifty day moving average price of $44.32 and a 200 day moving average price of $30.18.

Oil-Dri Co. of America (NYSE:ODC) last announced its earnings results on Tuesday, March 11th. The specialty chemicals company reported $0.89 earnings per share for the quarter. Oil-Dri Co. of America had a net margin of 9.92% and a return on equity of 21.84%. The business had revenue of $116.91 million during the quarter.

Oil-Dri Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, May 9th. Oil-Dri Co. of America’s payout ratio is currently 19.81%.

Insider Transactions at Oil-Dri Co. of America

In related news, VP Christopher B. Lamson sold 3,154 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $42.75, for a total value of $134,833.50. Following the completion of the sale, the vice president now owns 70,796 shares in the company, valued at $3,026,529. This trade represents a 4.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amy Ryan sold 2,100 shares of Oil-Dri Co. of America stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $41.78, for a total value of $87,738.00. Following the completion of the sale, the director now directly owns 3,900 shares in the company, valued at $162,942. This represents a 35.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.66% of the company’s stock.

Institutional Investors Weigh In On Oil-Dri Co. of America

Institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Oil-Dri Co. of America by 5.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,500 shares of the specialty chemicals company’s stock valued at $379,000 after acquiring an additional 271 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Oil-Dri Co. of America by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 14,009 shares of the specialty chemicals company’s stock valued at $966,000 after buying an additional 469 shares in the last quarter. FMR LLC raised its stake in shares of 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 buying an additional 200 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Oil-Dri Co. of America by 30.2% in the 3rd quarter. Janus Henderson Group PLC now owns 4,253 shares of the specialty chemicals company’s stock worth $293,000 after buying an additional 986 shares in the last quarter. Finally, Needham Investment Management LLC grew its stake in Oil-Dri Co. of America by 10.8% in the 3rd quarter. Needham Investment Management LLC now owns 267,500 shares of the specialty chemicals company’s stock valued at $18,455,000 after acquiring an additional 26,000 shares during the last quarter. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

About Oil-Dri Co. of America

Oil-Dri Corporation of America is a manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets. It operates through the Business to Business Products Group and Retail and Wholesale Products Group segments.