Gabelli Funds LLC Buys 82,400 Shares of Oil-Dri Corporation Of America $ODC

Gabelli Funds LLC raised its stake in Oil-Dri Corporation Of America (NYSE:ODC) by 99.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 165,200 shares of the specialty chemicals company’s stock after buying an additional 82,400 shares during the period. Gabelli Funds LLC’s holdings in Oil-Dri Corporation Of America were worth $7,586,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Corebridge Financial Inc. increased its stake in shares of Oil-Dri Corporation Of America by 97.1% in the 1st quarter. Corebridge Financial Inc. now owns 4,797 shares of the specialty chemicals company’s stock valued at $220,000 after acquiring an additional 2,363 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Oil-Dri Corporation Of America by 95.2% during the first quarter. MetLife Investment Management LLC now owns 5,621 shares of the specialty chemicals company’s stock valued at $258,000 after purchasing an additional 2,742 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Oil-Dri Corporation Of America by 100.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,160 shares of the specialty chemicals company’s stock valued at $53,000 after purchasing an additional 580 shares during the period. Martingale Asset Management L P increased its stake in Oil-Dri Corporation Of America by 143.6% in the first quarter. Martingale Asset Management L P now owns 12,240 shares of the specialty chemicals company’s stock valued at $562,000 after purchasing an additional 7,215 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Oil-Dri Corporation Of America in the first quarter worth $105,000. 49.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Oil-Dri Corporation Of America from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 22nd.

Oil-Dri Corporation Of America Price Performance

Shares of NYSE ODC opened at $58.51 on Thursday. The company has a fifty day moving average price of $58.81 and a 200 day moving average price of $50.69. The firm has a market cap of $856.48 million, a PE ratio of 17.21 and a beta of 0.67. The company has a current ratio of 2.83, a quick ratio of 1.85 and a debt-to-equity ratio of 0.16. Oil-Dri Corporation Of America has a 1-year low of $32.06 and a 1-year high of $63.82.

Oil-Dri Corporation Of America (NYSE:ODC) last released its quarterly earnings results on Thursday, June 5th. The specialty chemicals company reported $0.80 earnings per share (EPS) for the quarter. The firm had revenue of $115.50 million for the quarter. Oil-Dri Corporation Of America had a return on equity of 21.57% and a net margin of 10.44%.

Oil-Dri Corporation Of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, August 8th. This is a positive change from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.16. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is presently 21.18%.

Insiders Place Their Bets

In other news, Director Ellen-Blair Chube sold 2,500 shares of the business’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $55.83, for a total value of $139,575.00. Following the sale, the director owned 9,320 shares of the company’s stock, valued at $520,335.60. The trade was a 21.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Christopher B. Lamson sold 2,500 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $61.75, for a total transaction of $154,375.00. Following the transaction, the vice president owned 11,453 shares of the company’s stock, valued at $707,222.75. The trade was a 17.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,000 shares of company stock valued at $354,570 in the last quarter. 11.66% of the stock is currently owned by insiders.

About Oil-Dri Corporation Of America

Oil-Dri Corporation of America is a manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets. It operates through the Business to Business Products Group and Retail and Wholesale Products Group segments.