Oil-Dri Co. of America (NYSE:ODC) Sets New 1-Year High – Here’s What Happened

Oil-Dri Co. of America (NYSE:ODC)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $92.07 and last traded at $91.50, with a volume of 9761 shares trading hands. The stock had previously closed at $90.95.

Oil-Dri Co. of America Stock Performance

The company has a market capitalization of $640.75 million, a PE ratio of 14.19 and a beta of 0.58. The company has a quick ratio of 1.39, a current ratio of 2.63 and a debt-to-equity ratio of 0.20. The business has a 50 day simple moving average of $72.30 and a 200 day simple moving average of $68.34.

Oil-Dri Co. of America (NYSE:ODC) last posted its quarterly earnings results on Thursday, October 10th. The specialty chemicals company reported $1.17 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%. The business had revenue of $113.70 million during the quarter.

Oil-Dri Co. of America Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a $0.155 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.71%. Oil-Dri Co. of America’s payout ratio is currently 10.02%.

Insider Activity at Oil-Dri Co. of America

In related news, VP Laura G. Scheland sold 2,500 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $69.27, for a total transaction of $173,175.00. Following the sale, the vice president now owns 15,340 shares in the company, valued at approximately $1,062,601.80. This trade represents a 14.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Oil-Dri Co. of America by 81.6% in the third quarter. FMR LLC now owns 445 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Oil-Dri Co. of America in the 3rd quarter worth $216,000. Janus Henderson Group PLC raised its holdings in shares of 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 worth $293,000 after acquiring an additional 986 shares during the period. Squarepoint Ops LLC boosted its position in shares of 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 acquiring an additional 1,383 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Oil-Dri Co. of America by 5.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,500 shares of the specialty chemicals company’s stock valued at $379,000 after purchasing an additional 271 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.