Shares of Oil-Dri Corporation Of America (NYSE:ODC – Get Free Report) traded down 4.6% during trading on Wednesday . The stock traded as low as $71.79 and last traded at $70.4570. 39,659 shares changed hands during trading, a decline of 39% from the average session volume of 64,690 shares. The stock had previously closed at $73.87.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. Wall Street Zen cut shares of Oil-Dri Corporation Of America from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings raised shares of Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Oil-Dri Corporation Of America currently has a consensus rating of “Buy”.
View Our Latest Analysis on ODC
Oil-Dri Corporation Of America Stock Down 0.8%
Oil-Dri Corporation Of America Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, May 8th. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is currently 22.22%.
Insider Buying and Selling
In related news, Director Ellen-Blair Chube sold 1,390 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $73.06, for a total transaction of $101,553.40. Following the transaction, the director owned 8,930 shares in the company, valued at $652,425.80. This trade represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Hindsley sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $63.90, for a total transaction of $383,400.00. Following the transaction, the director owned 11,000 shares in the company, valued at $702,900. This represents a 35.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 11.69% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in ODC. Royal Bank of Canada grew its position in Oil-Dri Corporation Of America by 79.0% in the first quarter. Royal Bank of Canada now owns 31,787 shares of the specialty chemicals company’s stock worth $1,460,000 after buying an additional 14,030 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Oil-Dri Corporation Of America by 108.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,792 shares of the specialty chemicals company’s stock worth $266,000 after buying an additional 3,010 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Oil-Dri Corporation Of America by 122.6% in the first quarter. Goldman Sachs Group Inc. now owns 87,725 shares of the specialty chemicals company’s stock worth $4,028,000 after buying an additional 48,309 shares during the last quarter. Jane Street Group LLC grew its position in Oil-Dri Corporation Of America by 204.7% in the first quarter. Jane Street Group LLC now owns 19,498 shares of the specialty chemicals company’s stock worth $895,000 after buying an additional 13,099 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Oil-Dri Corporation Of America by 44.1% in the second quarter. JPMorgan Chase & Co. now owns 14,338 shares of the specialty chemicals company’s stock worth $846,000 after buying an additional 4,386 shares during the last quarter. Institutional investors and hedge funds own 49.01% of the company’s stock.
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.
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