PDT Partners LLC Makes New $3.35 Million Investment in Oil-Dri Corporation Of America $ODC

PDT Partners LLC purchased a new position in shares of Oil-Dri Corporation Of America (NYSE:ODC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 32,805 shares of the specialty chemicals company’s stock, valued at approximately $3,353,000.

Other hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc bought a new stake in Oil-Dri Corporation Of America during the second quarter worth $1,199,000. The Manufacturers Life Insurance Company acquired a new position in shares of Oil-Dri Corporation Of America during the 2nd quarter worth $273,000. Algert Global LLC acquired a new position in shares of Oil-Dri Corporation Of America during the 2nd quarter worth $417,000. Quantbot Technologies LP bought a new stake in shares of Oil-Dri Corporation Of America during the 2nd quarter worth $1,115,000. Finally, Bard Associates Inc. bought a new stake in shares of Oil-Dri Corporation Of America during the 2nd quarter worth $10,071,000. 49.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ODC shares. Wall Street Zen cut Oil-Dri Corporation Of America from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings restated a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a research note on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Oil-Dri Corporation Of America presently has an average rating of “Buy”.

Oil-Dri Corporation Of America Stock Performance

NYSE:ODC opened at $90.57 on Thursday. The stock’s 50-day moving average is $96.83 and its 200-day moving average is $80.66. Oil-Dri Corporation Of America has a 1-year low of $45.61 and a 1-year high of $107.00. 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 has a market cap of $1.31 billion, a P/E ratio of 23.28 and a beta of 0.78.

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

Oil-Dri Corporation Of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were given a $0.225 dividend. This is an increase from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, August 7th. This represents a $0.90 annualized dividend and a yield of 1.0%. Oil-Dri Corporation Of America’s dividend payout ratio is currently 23.14%.

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.