Oil-Dri Co. of America (NYSE:ODC) Hits New 52-Week High – Here’s Why

by · The Cerbat Gem

Oil-Dri Co. of America (NYSE:ODC – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $92.07 and last traded at $91.50, with a volume of 9761 shares traded. The stock had previously closed at $90.95.

Oil-Dri Co. of America Stock Performance

The company has a market capitalization of $640.75 million, a price-to-earnings ratio of 14.19 and a beta of 0.58. The company has a current ratio of 2.63, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The stock’s fifty day simple moving average is $72.30 and its 200-day simple moving average is $68.34.

Oil-Dri Co. of America (NYSE:ODC – Get Free Report) last issued its earnings results on Thursday, October 10th. The specialty chemicals company reported $1.17 EPS for the quarter. Oil-Dri Co. of America had a net margin of 9.92% and a return on equity of 21.84%. The firm had revenue of $113.70 million during the quarter.

Oil-Dri Co. of America Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.155 per share. The ex-dividend date is Friday, February 21st. This represents a $0.62 dividend on an annualized basis and a yield of 0.71%. Oil-Dri Co. of America’s payout ratio is currently 10.02%.

Insider Activity at Oil-Dri Co. of America

In other news, VP Laura G. Scheland sold 2,500 shares of Oil-Dri Co. of America stock in a transaction on Friday, October 18th. The shares were sold at an average price of $69.27, for a total value of $173,175.00. Following the transaction, the vice president now directly owns 15,340 shares of the company’s stock, valued at $1,062,601.80. The trade was a 14.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 11.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. acquired a new stake in shares of Oil-Dri Co. of America during the third quarter worth about $216,000. Barclays PLC grew its stake in shares of Oil-Dri Co. of America by 41.5% in the 3rd quarter. Barclays PLC now owns 9,743 shares of the specialty chemicals company’s stock valued at $673,000 after purchasing an additional 2,859 shares during the last quarter. State Street Corp increased its holdings in shares of Oil-Dri Co. of America by 2.1% in the third quarter. State Street Corp now owns 103,006 shares of the specialty chemicals company’s stock valued at $7,106,000 after purchasing an additional 2,114 shares during the period. Needham Investment Management LLC raised its stake in shares of Oil-Dri Co. of America by 10.8% during the third quarter. Needham Investment Management LLC now owns 267,500 shares of the specialty chemicals company’s stock worth $18,455,000 after purchasing an additional 26,000 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Oil-Dri Co. of America by 30.2% during the third quarter. Janus Henderson Group PLC now owns 4,253 shares of the specialty chemicals company’s stock worth $293,000 after purchasing an additional 986 shares during the period. 49.01% of the stock is currently owned by institutional investors and hedge funds.

Oil-Dri Co. of America Company Profile

(Get Free Report)

Oil-Dri Corporation of America, together with its subsidiaries, develops, manufactures, and markets sorbent products in the United States and internationally. It operates in two segments, Retail and Wholesale Products Group, and Business to Business Products Group. The company provides agricultural and horticultural products, including mineral-based absorbent products that serve as carriers for biological and chemical active ingredients, drying agents, and growing media under the Agsorb, Verge, and Flo-Fre brand names.

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