Oil-Dri Co. of America (NYSE:ODC) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Oil-Dri Co. of America (NYSE:ODC)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $22.55 and traded as high as $42.88. Oil-Dri Co. of America shares last traded at $42.13, with a volume of 28,538 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Oil-Dri Co. of America from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th.

Oil-Dri Co. of America Stock Down 1.1 %

The stock has a market capitalization of $615.10 million, a price-to-earnings ratio of 13.61 and a beta of 0.53. 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 stock has a 50 day moving average price of $33.40 and a 200 day moving average price of $22.60.

Oil-Dri Co. of America (NYSE:ODC) last posted its earnings results on Monday, December 9th. The specialty chemicals company reported $0.56 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued 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 yield of 1.47%. Oil-Dri Co. of America’s payout ratio is 20.03%.

Insiders Place Their Bets

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

A number of hedge funds have recently added to or reduced their stakes in ODC. FMR LLC boosted its holdings in 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 worth $31,000 after acquiring an additional 200 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Oil-Dri Co. of America by 12.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,401 shares of the specialty chemicals company’s stock worth $166,000 after purchasing an additional 268 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Oil-Dri Co. of America by 5.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,500 shares of the specialty chemicals company’s stock worth $379,000 after purchasing an additional 271 shares in the last quarter. Foundry Partners LLC grew its position in Oil-Dri Co. of America by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 37,041 shares of the specialty chemicals company’s stock valued at $2,555,000 after purchasing an additional 350 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Oil-Dri Co. of America by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,009 shares of the specialty chemicals company’s stock worth $966,000 after buying an additional 469 shares during the last quarter. 49.01% of the stock is currently owned by 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.