Oil-Dri Corporation Of America (NYSE:ODC) Reaches New 12-Month High – What’s Next?

Oil-Dri Corporation Of America (NYSE:ODC) shares hit a new 52-week high on Tuesday . The stock traded as high as $73.46 and last traded at $72.2160, with a volume of 69056 shares traded. The stock had previously closed at $72.81.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oil-Dri Corporation Of America in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy”.

Oil-Dri Corporation Of America Price Performance

The company has a current ratio of 3.45, a quick ratio of 2.40 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 18.92 and a beta of 0.79. The stock has a 50-day moving average price of $65.46 and a 200 day moving average price of $58.92.

Oil-Dri Corporation Of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be given a dividend of $0.205 per share. The ex-dividend date is Friday, May 8th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.2%. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is 22.22%.

Insider Activity at Oil-Dri Corporation Of America

In other news, Director Paul Hindsley sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $63.90, for a total transaction of $383,400.00. Following the sale, the director directly owned 11,000 shares in the company, valued at $702,900. This trade represents a 35.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. lifted its stake in Oil-Dri Corporation Of America by 9.6% in the 3rd quarter. American Century Companies Inc. now owns 401,152 shares of the specialty chemicals company’s stock valued at $24,486,000 after buying an additional 35,302 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Oil-Dri Corporation Of America by 51.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 88,177 shares of the specialty chemicals company’s stock valued at $5,382,000 after buying an additional 30,025 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in Oil-Dri Corporation Of America in the 3rd quarter valued at about $483,000. JPMorgan Chase & Co. lifted its stake in Oil-Dri Corporation Of America by 206.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,921 shares of the specialty chemicals company’s stock valued at $2,681,000 after buying an additional 29,583 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in Oil-Dri Corporation Of America by 190.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 52,935 shares of the specialty chemicals company’s stock valued at $3,231,000 after buying an additional 34,706 shares in the last quarter. 49.01% of the stock is owned by hedge funds and other institutional investors.

Oil-Dri Corporation Of America Company Profile

Oil-Dri Corporation of America is a specialty materials company that develops, manufactures and markets sorbent and filtration products for industrial, environmental and consumer applications. Its flagship offerings include clay- and diatomaceous earth–based cat litters, calcium silicate absorbents for spill control and cleanup, and purification media designed to remove contaminants from petroleum, chemical and food-processing streams.

Founded in 1941 and headquartered in Chicago, Illinois, the company has evolved from a single-product operation into a diversified provider of mineral- and chemical-based solutions.