Oil-Dri Co. of America (NYSE:ODC) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Oil-Dri Co. of America (NYSE:ODC) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Oil-Dri Co. of America Stock Up 1.4 %

Oil-Dri Co. of America stock opened at $43.17 on Tuesday. The company has a market cap of $630.07 million, a P/E ratio of 13.95 and a beta of 0.53. Oil-Dri Co. of America has a 1-year low of $29.47 and a 1-year high of $46.50. The company has a fifty day simple moving average of $27.83 and a 200 day simple moving average of $20.46. The company has a current ratio of 2.63, a quick ratio of 1.61 and a debt-to-equity ratio of 0.20.

Oil-Dri Co. of America (NYSE:ODC) last released its earnings results on Monday, December 9th. The specialty chemicals company reported $0.56 earnings per share for the quarter. Oil-Dri Co. of America had a net margin of 9.92% and a return on equity of 21.84%.

Oil-Dri Co. of America Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, February 21st. Oil-Dri Co. of America’s dividend payout ratio (DPR) is currently 20.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC grew its position in shares of Oil-Dri Co. of America by 81.6% in the 3rd quarter. FMR LLC now owns 445 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 200 shares during the period. JPMorgan Chase & Co. grew its position in shares of Oil-Dri Co. of America by 12.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,401 shares of the specialty chemicals company’s stock valued at $166,000 after acquiring an additional 268 shares during the period. Franklin Resources Inc. bought a new position in shares of Oil-Dri Co. of America in the 3rd quarter valued at about $216,000. Janus Henderson Group PLC grew its position in shares of Oil-Dri Co. of America by 30.2% in the 3rd quarter. Janus Henderson Group PLC now owns 4,253 shares of the specialty chemicals company’s stock valued at $293,000 after acquiring an additional 986 shares during the period. Finally, Squarepoint Ops LLC grew its position in shares of Oil-Dri Co. of America by 40.8% in the 2nd quarter. Squarepoint Ops LLC now owns 4,772 shares of the specialty chemicals company’s stock valued at $306,000 after acquiring an additional 1,383 shares during the period. Institutional investors own 49.01% of the company’s stock.

Oil-Dri Co. of America Company Profile

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.