Oil-Dri Co. of America (NYSE:ODC) Reaches New 1-Year High Following Dividend Announcement

Shares of Oil-Dri Co. of America (NYSE:ODC) hit a new 52-week high on Thursday following a dividend announcement from the company. The company traded as high as $88.25 and last traded at $88.19, with a volume of 7787 shares traded. The stock had previously closed at $85.74.

The newly announced dividend which will be paid on Friday, March 7th. Stockholders 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 dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, February 21st. Oil-Dri Co. of America’s dividend payout ratio is currently 20.03%.

Oil-Dri Co. of America Trading Up 1.4 %

The business has a 50 day simple moving average of $70.00 and a 200-day simple moving average of $68.12. 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 has a market capitalization of $636.71 million, a price-to-earnings ratio of 14.08 and a beta of 0.58.

Oil-Dri Co. of America (NYSE:ODC) last released its earnings results on Thursday, October 10th. The specialty chemicals company reported $1.17 earnings per share (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 business had revenue of $113.70 million for the quarter.

Insider Buying and Selling at Oil-Dri Co. of America

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ODC. FMR LLC increased its position in shares of Oil-Dri Co. of America by 81.6% in the third quarter. FMR LLC now owns 445 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Franklin Resources Inc. purchased a new stake in Oil-Dri Co. of America during the 3rd quarter worth $216,000. Janus Henderson Group PLC increased its holdings in 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 purchasing an additional 986 shares in the last quarter. Squarepoint Ops LLC raised its position in Oil-Dri Co. of America by 40.8% in the second quarter. Squarepoint Ops LLC now owns 4,772 shares of the specialty chemicals company’s stock valued at $306,000 after purchasing an additional 1,383 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Oil-Dri Co. of America by 5.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,500 shares of the specialty chemicals company’s stock worth $379,000 after purchasing an additional 271 shares in the last quarter. Hedge funds and other 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.