Oil-Dri Corporation Of America (NYSE:ODC) Stock Price Down 5.1% – Time to Sell?

Oil-Dri Corporation Of America (NYSE:ODC) shares were down 5.1% on Wednesday . The stock traded as low as $92.19 and last traded at $93.5540. Approximately 38,656 shares changed hands during trading, a decline of 45% from the average daily volume of 70,661 shares. The stock had previously closed at $98.59.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ODC shares. Wall Street Zen downgraded 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 report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Stock Performance

The stock’s 50-day simple moving average is $75.91 and its 200 day simple moving average is $64.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.40 and a current ratio of 3.28. The company has a market capitalization of $1.38 billion, a PE ratio of 24.55 and a beta of 0.81.

Oil-Dri Corporation Of America (NYSE:ODC) last announced its quarterly earnings data on Monday, June 8th. The specialty chemicals company reported $1.00 EPS for the quarter. Oil-Dri Corporation Of America had a net margin of 11.35% and a return on equity of 20.53%. The company had revenue of $126.33 million for the quarter. During the same period in the prior year, the company posted $0.80 earnings per share.

Oil-Dri Corporation Of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a $0.225 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.21. Oil-Dri Corporation Of America’s payout ratio is currently 21.08%.

Insider Activity at Oil-Dri Corporation Of America

In other news, Director Ellen-Blair Chube sold 1,390 shares of the company’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $73.06, for a total value of $101,553.40. Following the completion of the transaction, the director owned 8,930 shares in the company, valued at approximately $652,425.80. This represents a 13.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 11.69% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Legal & General Group Plc boosted its holdings in shares of Oil-Dri Corporation Of America by 20.1% in the 2nd quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company’s stock valued at $63,000 after buying an additional 178 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of 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 buying an additional 183 shares in the last quarter. Cardinal Capital Management boosted its holdings in shares of 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 buying an additional 279 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of 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 buying an additional 284 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of 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 buying an additional 391 shares in the last quarter. Institutional investors and hedge funds own 49.01% of the company’s stock.

Oil-Dri Corporation Of America Company Profile

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.