Oil-Dri Corporation Of America (NYSE:ODC) Stock Falls 6.2% – What’s Next?

Oil-Dri Corporation Of America (NYSE:ODC)’s share price fell 6.2% during trading on Thursday. The stock traded as low as $81.00 and last traded at $80.5490. 78,497 shares were traded during trading, a decline of 18% from the average daily volume of 96,186 shares. The stock had previously closed at $85.85.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ODC shares. Weiss Ratings reiterated 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, August 15th. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, Oil-Dri Corporation Of America has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Stock Performance

The stock’s 50 day moving average is $89.22 and its two-hundred day moving average is $86.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.07 and a quick ratio of 2.28. The firm has a market capitalization of $1.17 billion, a P/E ratio of 20.10 and a beta of 0.76.

Oil-Dri Corporation Of America (NYSE:ODC) last announced its quarterly earnings results on Thursday, October 8th. The specialty chemicals company reported $1.00 EPS for the quarter. The company had revenue of $129.29 million during the quarter. Oil-Dri Corporation Of America had a return on equity of 20.31% and a net margin of 11.54%.

Oil-Dri Corporation Of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be paid a dividend of $0.2250 per share. The ex-dividend date is Friday, November 6th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.1%. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is 22.50%.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

Several institutional investors and hedge funds have recently bought and sold shares of ODC. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Oil-Dri Corporation Of America during the 2nd quarter worth $11,267,000. BlackRock Inc. bought a new stake in shares of Oil-Dri Corporation Of America during the second quarter worth $84,762,000. Bank of New York Mellon Corp acquired a new position in shares of Oil-Dri Corporation Of America during the second quarter worth $9,575,000. Bank of America Corp DE acquired a new stake in shares of Oil-Dri Corporation Of America during the 2nd quarter valued at $1,487,000. Finally, PDT Partners LLC acquired a new position in shares of Oil-Dri Corporation Of America in the second quarter valued at approximately $3,353,000. Institutional investors own 49.01% of the company’s stock.

Oil-Dri Corporation Of America Company Profile

Oil-Dri Corporation of America develops, manufactures and markets mineral-based products designed to absorb, filter and control liquids and odors. The company serves consumer, industrial, agricultural and specialty markets, using products such as fuller’s earth and other absorbent minerals in a range of applications.

Its consumer products include cat litter and related animal-care products sold under brands such as Cat’s Pride and Jonny Cat. Oil-Dri also supplies absorbent products for industrial and commercial uses, including spill cleanup, oil and grease absorption, moisture control, filtration, sports-field maintenance and other specialized applications.

Founded in 1941, Oil-Dri is headquartered in Chicago, Illinois.