Oil-Dri Co. of America (NYSE:ODC) Raised 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 morning.

Oil-Dri Co. of America Trading Up 0.1 %

Shares of NYSE:ODC opened at $62.93 on Monday. Oil-Dri Co. of America has a 12-month low of $54.80 and a 12-month high of $87.32. The stock has a market cap of $458.76 million, a PE ratio of 10.59 and a beta of 0.69. The business has a 50 day moving average of $74.60 and a 200-day moving average of $71.07. The company has a quick ratio of 2.18, a current ratio of 3.06 and a debt-to-equity ratio of 0.20.

Oil-Dri Co. of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a $0.31 dividend. This is a boost from Oil-Dri Co. of America’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Friday, August 9th. Oil-Dri Co. of America’s payout ratio is 19.53%.

Insider Activity at Oil-Dri Co. of America

In related news, Director George C. Roeth sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $65.00, for a total value of $97,500.00. Following the completion of the sale, the director now directly owns 4,000 shares in the company, valued at $260,000. The sale was disclosed in a filing with the SEC, which is available at this link. 12.28% of the stock is currently owned by corporate insiders.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its stake in Oil-Dri Co. of America by 78.9% during the third quarter. Acadian Asset Management LLC now owns 31,810 shares of the specialty chemicals company’s stock worth $1,959,000 after purchasing an additional 14,030 shares during the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of Oil-Dri Co. of America during the fourth quarter worth $939,000. SG Americas Securities LLC increased its holdings in shares of Oil-Dri Co. of America by 27.9% during the fourth quarter. SG Americas Securities LLC now owns 2,280 shares of the specialty chemicals company’s stock worth $153,000 after buying an additional 498 shares in the last quarter. Foundry Partners LLC increased its holdings in shares of Oil-Dri Co. of America by 0.8% during the fourth quarter. Foundry Partners LLC now owns 78,625 shares of the specialty chemicals company’s stock worth $5,274,000 after buying an additional 640 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Oil-Dri Co. of America by 5.9% during the third quarter. Barclays PLC now owns 4,957 shares of the specialty chemicals company’s stock worth $307,000 after buying an additional 278 shares in the last quarter. 49.01% of the stock is currently owned by institutional investors.

Oil-Dri Co. of America Company Profile

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.