Oil-Dri Corporation Of America (NYSE:ODC) Stock Price Down 5.1% – What’s Next?

Shares of Oil-Dri Corporation Of America (NYSE:ODC) fell 5.1% on Wednesday . The stock traded as low as $92.19 and last traded at $93.5540. 38,656 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 70,661 shares. The stock had previously closed at $98.59.

Analyst Ratings Changes

Several brokerages have weighed in on ODC. Wall Street Zen lowered Oil-Dri Corporation Of America from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings raised Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Stock Performance

The company has a market cap of $1.40 billion, a P/E ratio of 24.91 and a beta of 0.81. The firm has a 50 day moving average price of $74.69 and a 200-day moving average price of $63.70. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.40 and a current ratio of 3.45.

Oil-Dri Corporation Of America (NYSE:ODC) last released its quarterly earnings results on Monday, June 8th. The specialty chemicals company reported $1.00 earnings per share (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 20.90% and a net margin of 11.35%.During the same quarter last year, the company posted $0.80 EPS.

Oil-Dri Corporation Of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be paid a dividend of $0.225 per share. This is a boost from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, August 7th. This represents a $0.90 annualized dividend and a dividend yield of 0.9%. Oil-Dri Corporation Of America’s dividend payout ratio is currently 22.22%.

Insider Activity

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

A number of institutional investors have recently made changes to their positions in the business. Needham Investment Management LLC boosted its stake in Oil-Dri Corporation Of America by 10.7% during the 4th quarter. Needham Investment Management LLC now owns 635,000 shares of the specialty chemicals company’s stock valued at $31,077,000 after purchasing an additional 61,500 shares during the period. Goldman Sachs Group Inc. boosted its stake in Oil-Dri Corporation Of America by 122.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 87,725 shares of the specialty chemicals company’s stock valued at $4,028,000 after purchasing an additional 48,309 shares during the period. Two Sigma Investments LP boosted its stake in Oil-Dri Corporation Of America by 111.8% during the 3rd quarter. Two Sigma Investments LP now owns 85,798 shares of the specialty chemicals company’s stock valued at $5,237,000 after purchasing an additional 45,294 shares during the period. Millennium Management LLC boosted its stake in Oil-Dri Corporation Of America by 75.2% during the 3rd quarter. Millennium Management LLC now owns 99,213 shares of the specialty chemicals company’s stock valued at $6,056,000 after purchasing an additional 42,572 shares during the period. Finally, American Century Companies Inc. boosted its stake in Oil-Dri Corporation Of America by 9.6% during the 3rd quarter. American Century Companies Inc. now owns 401,152 shares of the specialty chemicals company’s stock valued at $24,486,000 after purchasing an additional 35,302 shares during the period. 49.01% of the stock is currently owned by institutional investors.

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.