Oil-Dri Co. of America (NYSE:ODC) Trading 6.3% Higher Following Dividend Announcement

Oil-Dri Co. of America (NYSE:ODC)’s stock price traded up 6.3% during trading on Wednesday following a dividend announcement from the company. The stock traded as high as $85.65 and last traded at $85.65. 26,045 shares traded hands during mid-day trading, an increase of 36% from the average session volume of 19,158 shares. The stock had previously closed at $80.60.

The newly announced dividend which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given 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 dividend payout ratio (DPR) is presently 20.03%.

Oil-Dri Co. of America Stock Up 1.4 %

The company has a market capitalization of $636.71 million, a PE ratio of 14.08 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 firm has a 50-day moving average of $70.00 and a two-hundred day moving average of $68.12.

Oil-Dri Co. of America (NYSE:ODC) last released its quarterly earnings results on Thursday, October 10th. The specialty chemicals company reported $1.17 EPS for the quarter. Oil-Dri Co. of America had a return on equity of 21.84% and a net margin of 9.92%. The business had revenue of $113.70 million during the quarter.

Insider Transactions at Oil-Dri Co. of America

In other Oil-Dri Co. of America news, VP Laura G. Scheland sold 2,500 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $69.27, for a total value of $173,175.00. Following the sale, the vice president now directly owns 15,340 shares in the company, valued at $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 is available at this hyperlink. Company insiders own 11.66% of the company’s stock.

Hedge Funds Weigh In On Oil-Dri Co. of America

Several hedge funds have recently made changes to their positions in the company. Needham Investment Management LLC grew its holdings in shares of Oil-Dri Co. of America by 10.8% during the third quarter. Needham Investment Management LLC now owns 267,500 shares of the specialty chemicals company’s stock worth $18,455,000 after purchasing an additional 26,000 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Oil-Dri Co. of America by 1.4% during the third quarter. Royce & Associates LP now owns 162,000 shares of the specialty chemicals company’s stock worth $11,176,000 after buying an additional 2,300 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Oil-Dri Co. of America by 24.3% during the second quarter. American Century Companies Inc. now owns 111,348 shares of the specialty chemicals company’s stock worth $7,136,000 after buying an additional 21,740 shares during the last quarter. State Street Corp grew its holdings in shares of Oil-Dri Co. of America by 2.1% during the third quarter. State Street Corp now owns 103,006 shares of the specialty chemicals company’s stock worth $7,106,000 after buying an additional 2,114 shares during the last quarter. Finally, Cardinal Capital Management grew its holdings in shares of Oil-Dri Co. of America by 3.6% during the third quarter. Cardinal Capital Management now owns 47,889 shares of the specialty chemicals company’s stock worth $3,304,000 after buying an additional 1,650 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.