Oil-Dri Corporation Of America (NYSE:ODC) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Oil-Dri Corporation Of America (NYSE:ODC) from a strong-buy rating to a buy rating in a research note published on Saturday.

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a research note on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Price Performance

Shares of ODC opened at $90.22 on Friday. The stock has a market cap of $1.31 billion, a P/E ratio of 23.19 and a beta of 0.78. Oil-Dri Corporation Of America has a 1 year low of $45.61 and a 1 year high of $107.00. The stock’s 50-day moving average price is $97.14 and its two-hundred day moving average price is $78.76. The company has a current ratio of 3.28, a quick ratio of 2.40 and a debt-to-equity ratio of 0.14.

Oil-Dri Corporation Of America (NYSE:ODC) last released its quarterly earnings data on Monday, June 8th. The specialty chemicals company reported $1.00 earnings per share for the quarter. The business had revenue of $126.33 million for 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 period in the previous year, the business earned $0.80 EPS.

Oil-Dri Corporation Of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a $0.225 dividend. This is a boost 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 dividend yield of 1.0%. Oil-Dri Corporation Of America’s payout ratio is 23.14%.

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 ODC. Barnett & Company Inc. increased its stake in shares of Oil-Dri Corporation Of America by 116.5% in the 1st quarter. Barnett & Company Inc. now owns 26,850 shares of the specialty chemicals company’s stock valued at $1,748,000 after purchasing an additional 14,450 shares during the last quarter. Needham Investment Management LLC raised its holdings in shares of Oil-Dri Corporation Of America by 10.7% during the 4th quarter. Needham Investment Management LLC now owns 635,000 shares of the specialty chemicals company’s stock worth $31,077,000 after buying an additional 61,500 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Oil-Dri Corporation Of America by 12.9% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 141,178 shares of the specialty chemicals company’s stock worth $6,909,000 after buying an additional 16,124 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Oil-Dri Corporation Of America by 17.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 85,264 shares of the specialty chemicals company’s stock worth $5,550,000 after buying an additional 12,462 shares during the last quarter. Finally, Round Rock Advisors LLC boosted its stake in Oil-Dri Corporation Of America by 72.1% in the fourth quarter. Round Rock Advisors LLC now owns 21,404 shares of the specialty chemicals company’s stock valued at $1,048,000 after buying an additional 8,964 shares in the last quarter. Institutional investors 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.