Diamond Hill Capital Management LLC Investment Advisor Buys New Position in Oil-Dri Corporation Of America $ODC

Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Oil-Dri Corporation Of America (NYSE:ODC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 110,231 shares of the specialty chemicals company’s stock, valued at approximately $11,267,000. Diamond Hill Capital Management LLC Investment Advisor owned about 0.76% of Oil-Dri Corporation Of America at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ODC. Legal & General Group Plc raised its position in shares of Oil-Dri Corporation Of America by 20.1% in the second quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company’s stock valued at $63,000 after buying an additional 178 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Oil-Dri Corporation Of America by 57.4% during the second quarter. Russell Investments Group Ltd. now owns 502 shares of the specialty chemicals company’s stock worth $30,000 after acquiring an additional 183 shares during the last quarter. Cardinal Capital Management grew its stake in Oil-Dri Corporation Of America by 0.3% in the 4th quarter. Cardinal Capital Management now owns 87,950 shares of the specialty chemicals company’s stock worth $4,304,000 after acquiring an additional 279 shares during the period. Franklin Resources Inc. grew its stake in Oil-Dri Corporation Of America by 4.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,280 shares of the specialty chemicals company’s stock worth $444,000 after acquiring an additional 284 shares during the period. Finally, Strs Ohio raised its holdings in Oil-Dri Corporation Of America by 5.3% in the 4th quarter. Strs Ohio now owns 8,000 shares of the specialty chemicals company’s stock valued at $392,000 after acquiring an additional 400 shares during the last quarter. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ODC. Weiss Ratings restated a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a report on Wednesday, July 29th. Wall Street Zen downgraded Oil-Dri Corporation Of America from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Oil-Dri Corporation Of America currently has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Trading Up 2.2%

Shares of ODC opened at $92.39 on Tuesday. Oil-Dri Corporation Of America has a twelve month low of $45.61 and a twelve month high of $107.00. The firm has a market capitalization of $1.34 billion, a P/E ratio of 23.75 and a beta of 0.78. The company has a current ratio of 3.28, a quick ratio of 2.40 and a debt-to-equity ratio of 0.14. The stock’s fifty day simple moving average is $97.31 and its 200 day simple moving average is $79.15.

Oil-Dri Corporation Of America (NYSE:ODC) last announced its quarterly earnings results on Monday, June 8th. The specialty chemicals company reported $1.00 EPS for the quarter. The company had revenue of $126.33 million during the quarter. Oil-Dri Corporation Of America had a return on equity of 20.53% and a net margin of 11.35%.During the same quarter in the prior year, the company earned $0.80 earnings per share.

Oil-Dri Corporation Of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be given a dividend of $0.225 per share. This is a boost from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.90 dividend on an annualized basis and a yield of 1.0%. Oil-Dri Corporation Of America’s dividend payout ratio is currently 23.14%.

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.