StockNews.com Downgrades Oil-Dri Co. of America (NYSE:ODC) to Hold

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

Oil-Dri Co. of America Stock Down 0.8 %

NYSE ODC opened at $61.70 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.18 and a current ratio of 3.06. The firm has a 50-day simple moving average of $74.09 and a 200 day simple moving average of $71.01. Oil-Dri Co. of America has a twelve month low of $54.80 and a twelve month high of $87.32. The stock has a market cap of $449.79 million, a PE ratio of 10.39 and a beta of 0.62.

Oil-Dri Co. of America (NYSE:ODC) last released its earnings results on Thursday, June 6th. The specialty chemicals company reported $1.07 earnings per share for the quarter. Oil-Dri Co. of America had a net margin of 9.93% and a return on equity of 22.80%. The business had revenue of $106.78 million during the quarter.

Oil-Dri Co. of America Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, August 9th. This is a positive change from Oil-Dri Co. of America’s previous quarterly dividend of $0.29. Oil-Dri Co. of America’s dividend payout ratio is 19.53%.

Insider Buying and Selling

In related news, Director George C. Roeth sold 1,500 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $65.00, for a total value of $97,500.00. Following the completion of the transaction, the director now owns 4,000 shares of the company’s stock, valued at $260,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.28% of the company’s stock.

Institutional Trading of Oil-Dri Co. of America

Hedge funds have recently modified their holdings of the company. AJOVista LLC acquired a new stake in shares of Oil-Dri Co. of America during the fourth quarter worth approximately $60,000. Tower Research Capital LLC TRC increased its holdings in shares of Oil-Dri Co. of America by 127.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,248 shares of the specialty chemicals company’s stock worth $84,000 after buying an additional 699 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Oil-Dri Co. of America by 27.9% during the fourth quarter. SG Americas Securities LLC now owns 2,280 shares of the specialty chemicals company’s stock worth $153,000 after buying an additional 498 shares in the last quarter. Strs Ohio increased its holdings in shares of Oil-Dri Co. of America by 91.7% during the fourth quarter. Strs Ohio now owns 2,300 shares of the specialty chemicals company’s stock worth $154,000 after buying an additional 1,100 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Oil-Dri Co. of America by 20.9% during the first quarter. BNP Paribas Financial Markets now owns 2,440 shares of the specialty chemicals company’s stock worth $182,000 after buying an additional 421 shares in the last quarter. Institutional investors and hedge funds own 49.01% of the company’s stock.

About Oil-Dri Co. of America

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.