Oil-Dri Co. of America (NYSE:ODC) Upgraded 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 released on Monday.

Oil-Dri Co. of America Price Performance

ODC opened at $42.23 on Monday. The firm’s fifty day moving average price is $24.92 and its two-hundred day moving average price is $19.40. The company has a market capitalization of $616.35 million, a price-to-earnings ratio of 6.82 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 issued 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 net margin of 9.92% and a return on equity of 21.84%.

Oil-Dri Co. of America Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a $0.155 dividend. The ex-dividend date is Friday, February 21st. This represents a $0.62 annualized dividend and a yield of 1.47%. Oil-Dri Co. of America’s dividend payout ratio is currently 20.00%.

Insider Buying and Selling at Oil-Dri Co. of America

In other Oil-Dri Co. of America news, VP Laura G. Scheland sold 10,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $17.32, for a total value of $173,175.00. Following the transaction, the vice president now directly owns 61,360 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 11.66% of the company’s stock.

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

Large investors have recently modified their holdings of the stock. Needham Investment Management LLC lifted its stake in Oil-Dri Co. of America by 10.8% in the third quarter. Needham Investment Management LLC now owns 267,500 shares of the specialty chemicals company’s stock valued at $18,455,000 after purchasing an additional 26,000 shares during the last quarter. Royce & Associates LP lifted its position in shares of Oil-Dri Co. of America by 1.4% during the 3rd quarter. Royce & Associates LP now owns 162,000 shares of the specialty chemicals company’s stock valued at $11,176,000 after buying an additional 2,300 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Oil-Dri Co. of America by 24.3% during the 2nd quarter. American Century Companies Inc. now owns 111,348 shares of the specialty chemicals company’s stock worth $7,136,000 after acquiring an additional 21,740 shares during the period. State Street Corp increased its holdings in Oil-Dri Co. of America by 2.1% in the 3rd quarter. State Street Corp now owns 103,006 shares of the specialty chemicals company’s stock worth $7,106,000 after acquiring an additional 2,114 shares during the last quarter. Finally, Cardinal Capital Management raised its stake in Oil-Dri Co. of America by 3.6% in the 3rd quarter. Cardinal Capital Management now owns 47,889 shares of the specialty chemicals company’s stock valued at $3,304,000 after acquiring an additional 1,650 shares during the period. Hedge funds and other institutional investors own 49.01% of the company’s stock.

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.