Oil-Dri Corporation Of America (NYSE:ODC) Shares Gap Down on Insider Selling

Shares of Oil-Dri Corporation Of America (NYSE:ODC) gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $65.43, but opened at $63.32. Oil-Dri Corporation Of America shares last traded at $63.78, with a volume of 5,769 shares traded.

Specifically, Director Paul Hindsley sold 6,000 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $63.90, for a total value of $383,400.00. Following the completion of the sale, the director directly owned 11,000 shares in the company, valued at $702,900. The trade was a 35.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ODC. Weiss Ratings reissued a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a report on Monday, December 22nd. Wall Street Zen downgraded shares of Oil-Dri Corporation Of America from a “strong-buy” rating to a “hold” rating in a research note on Saturday, December 13th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Stock Performance

The stock has a market cap of $940.26 million, a P/E ratio of 17.48 and a beta of 0.77. The company has a current ratio of 3.45, a quick ratio of 2.40 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $60.77 and a 200 day simple moving average of $58.58.

Oil-Dri Corporation Of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 8th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, May 8th. Oil-Dri Corporation Of America’s dividend payout ratio is presently 22.22%.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

Several hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its holdings in shares of Oil-Dri Corporation Of America by 57.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 502 shares of the specialty chemicals company’s stock worth $30,000 after acquiring an additional 183 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Oil-Dri Corporation Of America in the 2nd quarter valued at $45,000. Ameritas Investment Partners Inc. increased its stake in shares of Oil-Dri Corporation Of America by 25.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,013 shares of the specialty chemicals company’s stock valued at $60,000 after purchasing an additional 203 shares during the last quarter. Legal & General Group Plc increased its stake 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 purchasing an additional 178 shares during the last quarter. Finally, Copeland Capital Management LLC acquired a new position in shares of Oil-Dri Corporation Of America during the 3rd quarter worth $67,000. 49.01% of the stock is owned by institutional investors.

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.