Oil-Dri Corporation Of America (NYSE:ODC) Short Interest Update
by Teresa Graham · The Cerbat GemOil-Dri Corporation Of America (NYSE:ODC – Get Free Report) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 363,345 shares, a drop of 18.5% from the March 31st total of 445,890 shares. Based on an average daily trading volume, of 59,585 shares, the days-to-cover ratio is currently 6.1 days. Currently, 2.8% of the shares of the company are short sold.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on ODC. Weiss Ratings restated a “buy (b-)” rating on shares of Oil-Dri Corporation Of America in a research note on Friday, March 27th. Wall Street Zen upgraded Oil-Dri Corporation Of America from a “hold” rating to a “buy” rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Oil-Dri Corporation Of America presently has a consensus rating of “Buy”.
View Our Latest Stock Report on ODC
Oil-Dri Corporation Of America Price Performance
Shares of NYSE:ODC traded up $0.59 during trading on Thursday, hitting $73.03. 38,110 shares of the stock were exchanged, compared to its average volume of 49,470. The company has a fifty day moving average price of $67.37 and a two-hundred day moving average price of $59.83. The company has a market cap of $1.06 billion, a PE ratio of 19.79 and a beta of 0.79. The company has a current ratio of 3.45, a quick ratio of 2.40 and a debt-to-equity ratio of 0.14. Oil-Dri Corporation Of America has a 12-month low of $41.50 and a 12-month high of $75.41.
Oil-Dri Corporation Of America Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be given a $0.205 dividend. The ex-dividend date is Friday, May 8th. This represents a $0.82 annualized dividend and a dividend yield of 1.1%. Oil-Dri Corporation Of America’s payout ratio is currently 22.22%.
Insider Buying and Selling
In other Oil-Dri Corporation Of America news, Director Ellen-Blair Chube sold 1,390 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $73.06, for a total transaction of $101,553.40. Following the completion of the sale, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Hindsley sold 6,000 shares of Oil-Dri Corporation Of America stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $63.90, for a total value of $383,400.00. Following the completion of the transaction, the director owned 11,000 shares in the company, valued at $702,900. This trade represents a 35.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 11.69% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Oil-Dri Corporation Of America
Several hedge funds have recently added to or reduced their stakes in ODC. Russell Investments Group Ltd. raised 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. Raymond James Financial Inc. purchased a new position in shares of Oil-Dri Corporation Of America during the 2nd quarter worth approximately $45,000. Legal & General Group Plc increased its stake in shares of Oil-Dri Corporation Of America by 20.1% during the 2nd quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company’s stock worth $63,000 after purchasing an additional 178 shares in the last quarter. Copeland Capital Management LLC acquired a new position in shares of Oil-Dri Corporation Of America during the 3rd quarter worth approximately $67,000. Finally, State of Alaska Department of Revenue lifted its stake in Oil-Dri Corporation Of America by 361.7% in the 4th quarter. State of Alaska Department of Revenue now owns 1,879 shares of the specialty chemicals company’s stock valued at $91,000 after buying an additional 1,472 shares in the last quarter. 49.01% of the stock is currently owned by hedge funds and other 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.