Oil-Dri Corporation Of America (NYSE:ODC) Hits New 52-Week High – Time to Buy?

Shares of Oil-Dri Corporation Of America (NYSE:ODC) reached a new 52-week high during trading on Friday . The company traded as high as $85.67 and last traded at $84.58, with a volume of 23010 shares traded. The stock had previously closed at $84.08.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ODC shares. Wall Street Zen cut shares of Oil-Dri Corporation Of America from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings raised shares of Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy”.

Oil-Dri Corporation Of America Stock Performance

The company has a market cap of $1.23 billion, a PE ratio of 23.00 and a beta of 0.81. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.40 and a current ratio of 3.45. The firm’s 50 day moving average is $73.14 and its 200-day moving average is $62.98.

Oil-Dri Corporation Of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.90 annualized dividend and a yield of 1.1%. This is a boost from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.21. Oil-Dri Corporation Of America’s dividend payout ratio is currently 22.22%.

Insider Activity

In related news, Director Ellen-Blair Chube sold 1,390 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $73.06, for a total transaction of $101,553.40. Following the completion of the sale, the director owned 8,930 shares of the company’s stock, valued at approximately $652,425.80. This represents a 13.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Hindsley sold 6,000 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $63.90, for a total transaction of $383,400.00. Following the sale, the director directly owned 11,000 shares of the company’s stock, valued at approximately $702,900. This represents a 35.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 11.69% of the stock is currently owned by corporate insiders.

Institutional Trading of Oil-Dri Corporation Of America

Several large investors have recently bought and sold shares of the business. Legal & General Group Plc grew its stake in 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 valued at $63,000 after acquiring an additional 178 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Oil-Dri Corporation Of America by 57.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 502 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 183 shares during the last quarter. Cardinal Capital Management boosted its holdings in Oil-Dri Corporation Of America by 0.3% in the 4th quarter. Cardinal Capital Management now owns 87,950 shares of the specialty chemicals company’s stock valued at $4,304,000 after purchasing an additional 279 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Oil-Dri Corporation Of America by 4.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,280 shares of the specialty chemicals company’s stock valued at $444,000 after purchasing an additional 284 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Oil-Dri Corporation Of America by 9.4% in the 4th quarter. SG Americas Securities LLC now owns 4,567 shares of the specialty chemicals company’s stock valued at $224,000 after purchasing an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 49.01% of the company’s stock.

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.