Oil-Dri Co. of America (NYSE:ODC) declared a quarterly dividend on Wednesday, March 13th, Wall Street Journal reports. Shareholders of record on Friday, May 17th will be given a dividend of 0.24 per share by the specialty chemicals company on Friday, May 31st. This represents a $0.96 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Thursday, May 16th.
Oil-Dri Co. of America has increased its dividend payment by an average of 4.7% per year over the last three years and has raised its dividend annually for the last 16 consecutive years.
Oil-Dri Co. of America stock opened at $28.91 on Thursday. The company has a quick ratio of 1.67, a current ratio of 2.65 and a debt-to-equity ratio of 0.02. The stock has a market cap of $211.24 million, a price-to-earnings ratio of 22.48 and a beta of 0.96. Oil-Dri Co. of America has a 52-week low of $24.25 and a 52-week high of $46.73.
In related news, Director Allan H. Selig purchased 1,000 shares of Oil-Dri Co. of America stock in a transaction dated Monday, December 17th. The stock was bought at an average cost of $25.90 per share, with a total value of $25,900.00. Following the purchase, the director now owns 38,000 shares in the company, valued at approximately $984,200. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 9.04% of the company’s stock.
A hedge fund recently raised its stake in Oil-Dri Co. of America stock. Geode Capital Management LLC increased its holdings in Oil-Dri Co. of America (NYSE:ODC) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,678 shares of the specialty chemicals company’s stock after purchasing an additional 2,164 shares during the quarter. Geode Capital Management LLC owned 0.57% of Oil-Dri Co. of America worth $1,130,000 at the end of the most recent quarter. Institutional investors own 52.49% of the company’s stock.
Separately, ValuEngine lowered shares of Oil-Dri Co. of America from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th.
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About Oil-Dri Co. of America
Oil-Dri Corporation of America develops, manufactures, and markets sorbent products in the United States and internationally. It operates through two segments, Retail and Wholesale Products Group, and Business to Business Products Group. The company provides agricultural and horticultural products, including mineral-based absorbent products, which serve as chemical carriers, drying agents, and growing media under the Agsorb, Verge, Flo-Fre, and Terra-Green brand names.
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