Oil-Dri Co. of America (NYSE:ODC) Cut to Hold at StockNews.com

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

Oil-Dri Co. of America Stock Performance

Shares of ODC stock opened at $41.74 on Tuesday. The company has a current ratio of 2.63, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The company has a market cap of $609.20 million, a PE ratio of 6.74 and a beta of 0.53. The company’s fifty day simple moving average is $26.86 and its 200-day simple moving average is $20.15. Oil-Dri Co. of America has a 52 week low of $29.47 and a 52 week high of $46.50.

Oil-Dri Co. of America (NYSE:ODC) last announced its quarterly earnings results 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 business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given 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 presently 20.00%.

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

In other news, VP Laura G. Scheland sold 10,000 shares of the company’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 transaction, the vice president now directly owns 61,360 shares in the company, valued at approximately $1,062,601.80. This represents a 14.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.66% of the stock is owned by corporate insiders.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ODC. FMR LLC grew its stake in shares of Oil-Dri Co. of America by 81.6% during the third quarter. FMR LLC now owns 445 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in 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 valued at $166,000 after purchasing an additional 268 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Oil-Dri Co. of America during the 3rd quarter valued at approximately $216,000. Janus Henderson Group PLC grew its stake 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 purchasing an additional 986 shares in the last quarter. Finally, Squarepoint Ops LLC increased 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 worth $306,000 after purchasing an additional 1,383 shares during the last quarter. 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.