Oil-Dri Corporation Of America (NYSE:ODC) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Oil-Dri Corporation Of America (NYSE:ODC) from a buy rating to a hold rating in a research report released on Saturday morning.

Separately, Weiss Ratings upgraded Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy”.

Oil-Dri Corporation Of America Stock Up 2.3%

Shares of NYSE:ODC opened at $77.41 on Friday. The company has a quick ratio of 2.40, a current ratio of 3.45 and a debt-to-equity ratio of 0.14. Oil-Dri Corporation Of America has a 52-week low of $45.25 and a 52-week high of $77.88. The stock’s fifty day simple moving average is $68.05 and its 200-day simple moving average is $60.15. The company has a market capitalization of $1.12 billion, a P/E ratio of 20.98 and a beta of 0.82.

Oil-Dri Corporation Of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, May 8th. Oil-Dri Corporation Of America’s dividend payout ratio is presently 22.22%.

Insider Buying and Selling at Oil-Dri Corporation Of America

In related news, Director Ellen-Blair Chube sold 1,390 shares of the company’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $73.06, for a total value of $101,553.40. Following the completion of the transaction, the director directly owned 8,930 shares in the company, valued at approximately $652,425.80. This represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul Hindsley sold 6,000 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $63.90, for a total value of $383,400.00. Following the completion of the transaction, the director owned 11,000 shares of the company’s stock, valued at $702,900. The trade was a 35.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 11.69% of the company’s stock.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

Institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its stake in Oil-Dri Corporation Of America by 9.6% during the third quarter. American Century Companies Inc. now owns 401,152 shares of the specialty chemicals company’s stock worth $24,486,000 after acquiring an additional 35,302 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in Oil-Dri Corporation Of America by 190.4% during the third quarter. Tudor Investment Corp ET AL now owns 52,935 shares of the specialty chemicals company’s stock worth $3,231,000 after acquiring an additional 34,706 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Oil-Dri Corporation Of America by 206.3% during the third quarter. JPMorgan Chase & Co. now owns 43,921 shares of the specialty chemicals company’s stock worth $2,681,000 after acquiring an additional 29,583 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in Oil-Dri Corporation Of America during the third quarter worth about $483,000. Finally, Teton Advisors LLC acquired a new stake in Oil-Dri Corporation Of America during the third quarter worth about $842,000. 49.01% of the stock is currently owned by institutional investors and hedge funds.

About Oil-Dri Corporation Of America

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.