Oil-Dri Co. of America (NYSE:ODC) Sets New 1-Year High Following Dividend Announcement

Oil-Dri Co. of America (NYSE:ODC)’s share price hit a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $50.00 and last traded at $47.25, with a volume of 1037 shares changing hands. The stock had previously closed at $45.59.

The newly announced dividend which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.62 annualized dividend and a dividend yield of 1.30%. Oil-Dri Co. of America’s dividend payout ratio is currently 19.81%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Oil-Dri Co. of America from a “buy” rating to a “hold” rating in a report on Friday, February 28th.

Oil-Dri Co. of America Trading Down 4.3 %

The company has a quick ratio of 1.61, a current ratio of 2.63 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average price is $43.38 and its 200 day moving average price is $28.18. The company has a market capitalization of $694.50 million, a P/E ratio of 15.37 and a beta of 0.44.

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

Insider Transactions at Oil-Dri Co. of America

In other Oil-Dri Co. of America news, Director Amy Ryan sold 2,100 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $162,942. This represents a 35.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Christopher B. Lamson sold 3,154 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $42.75, for a total transaction of $134,833.50. Following the completion of the sale, the vice president now directly owns 70,796 shares of the company’s stock, valued at $3,026,529. The trade was a 4.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC grew its position 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 valued at $31,000 after acquiring an additional 200 shares during the period. JPMorgan Chase & Co. grew its position in shares of Oil-Dri Co. of America by 12.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,401 shares of the specialty chemicals company’s stock valued at $166,000 after acquiring an additional 268 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew 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. Foundry Partners LLC grew its position in shares of Oil-Dri Co. of America by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 37,041 shares of the specialty chemicals company’s stock valued at $2,555,000 after acquiring an additional 350 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Oil-Dri Co. of America by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 112,183 shares of the specialty chemicals company’s stock valued at $9,834,000 after acquiring an additional 352 shares during the period. 49.01% of the stock is owned by institutional investors.

Oil-Dri Co. of America Company Profile

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.