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

Oil-Dri Corporation Of America (NYSE:ODC)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $99.25 and last traded at $99.40, with a volume of 64028 shares trading hands. The stock had previously closed at $94.74.

Analyst Ratings Changes

Several research firms have recently issued reports on ODC. Wall Street Zen downgraded Oil-Dri Corporation Of America from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Weiss Ratings upgraded shares of Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Oil-Dri Corporation Of America presently has an average rating of “Buy”.

Oil-Dri Corporation Of America Stock Performance

The company has a 50 day simple moving average of $79.90 and a 200-day simple moving average of $66.50. The stock has a market capitalization of $1.43 billion, a P/E ratio of 25.44 and a beta of 0.81. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.28 and a quick ratio of 2.40.

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

Oil-Dri Corporation Of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a dividend of $0.225 per share. This is a positive change from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.90 dividend on an annualized basis and a yield of 0.9%. Oil-Dri Corporation Of America’s payout ratio is currently 21.08%.

Insider Activity at Oil-Dri Corporation Of America

In related news, Director Ellen-Blair Chube sold 1,390 shares of the business’s stock in a transaction that occurred on 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 transaction, the director owned 8,930 shares of the company’s stock, valued at approximately $652,425.80. The trade was a 13.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.69% of the company’s stock.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its stake in Oil-Dri Corporation Of America by 57.4% during the second quarter. Russell Investments Group Ltd. now owns 502 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 183 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Oil-Dri Corporation Of America in the 2nd quarter worth $45,000. Fifth Third Bancorp bought a new stake in shares of Oil-Dri Corporation Of America in the first quarter worth about $54,000. Legal & General Group Plc increased its stake in shares of Oil-Dri Corporation Of America by 20.1% during the second 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 during the period. Finally, State of Alaska Department of Revenue lifted its position in shares of Oil-Dri Corporation Of America by 361.7% in the 4th quarter. State of Alaska Department of Revenue now owns 1,879 shares of the specialty chemicals company’s stock worth $91,000 after purchasing an additional 1,472 shares during the period. 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.