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

Oil-Dri Co. of America (NYSE:ODC)’s stock price reached a new 52-week high on Thursday following a dividend announcement from the company. The company traded as high as $88.25 and last traded at $88.19, with a volume of 7787 shares. The stock had previously closed at $85.74.

The newly announced dividend which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.72%. Oil-Dri Co. of America’s dividend payout ratio is presently 20.03%.

Oil-Dri Co. of America Trading Up 0.9 %

The company has a current ratio of 2.63, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The company has a market cap of $630.66 million, a PE ratio of 13.98 and a beta of 0.58. The firm has a fifty day moving average of $70.00 and a two-hundred day moving average of $68.12.

Oil-Dri Co. of America (NYSE:ODC) last issued its quarterly earnings data 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 return on equity of 21.84% and a net margin of 9.92%. The business had revenue of $113.70 million for the quarter.

Insider Buying and Selling

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

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

Several hedge funds and other institutional investors have recently modified their holdings of ODC. FMR LLC grew its position in shares of Oil-Dri Co. of America by 81.6% in the 3rd quarter. FMR LLC now owns 445 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 200 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Oil-Dri Co. of America by 5.2% during 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 last quarter. Foundry Partners LLC boosted its position in shares of 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 worth $2,555,000 after purchasing an additional 350 shares in the last quarter. Ellsworth Advisors LLC increased its position in Oil-Dri Co. of America by 6.6% during the 2nd quarter. Ellsworth Advisors LLC now owns 7,453 shares of the specialty chemicals company’s stock valued at $478,000 after buying an additional 459 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Oil-Dri Co. of America by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 14,009 shares of the specialty chemicals company’s stock worth $966,000 after acquiring an additional 469 shares during the last quarter. 49.01% of the stock is owned by institutional investors.

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.