Oil-Dri Corporation Of America (NYSE:ODC) Sets New 52-Week High – Time to Buy?

Oil-Dri Corporation Of America (NYSE:ODC)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $75.50 and last traded at $76.4620, with a volume of 1987 shares. The stock had previously closed at $74.71.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Weiss Ratings raised shares of Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday. Wall Street Zen raised shares of Oil-Dri Corporation Of America from a “hold” rating to a “buy” rating in a report on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Oil-Dri Corporation Of America presently has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Price Performance

The stock has a market capitalization of $1.09 billion, a PE ratio of 20.44 and a beta of 0.82. The business’s 50-day moving average price is $67.59 and its 200 day moving average price is $59.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.40 and a current ratio of 3.45.

Oil-Dri Corporation Of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $0.82 annualized dividend and a dividend yield of 1.1%. Oil-Dri Corporation Of America’s dividend payout ratio is presently 22.22%.

Insider Buying and Selling 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 transaction, the director owned 8,930 shares of the company’s stock, valued at approximately $652,425.80. This represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul Hindsley sold 6,000 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $63.90, for a total transaction of $383,400.00. Following the completion of the transaction, the director directly owned 11,000 shares in the company, valued at approximately $702,900. The trade was a 35.29% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 11.69% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ODC. Needham Investment Management LLC grew its position in Oil-Dri Corporation Of America by 10.7% in the fourth quarter. Needham Investment Management LLC now owns 635,000 shares of the specialty chemicals company’s stock worth $31,077,000 after acquiring an additional 61,500 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Oil-Dri Corporation Of America by 122.6% in the first quarter. Goldman Sachs Group Inc. now owns 87,725 shares of the specialty chemicals company’s stock worth $4,028,000 after acquiring an additional 48,309 shares in the last quarter. Two Sigma Investments LP grew its position in Oil-Dri Corporation Of America by 111.8% in the third quarter. Two Sigma Investments LP now owns 85,798 shares of the specialty chemicals company’s stock worth $5,237,000 after acquiring an additional 45,294 shares in the last quarter. Millennium Management LLC grew its position in Oil-Dri Corporation Of America by 75.2% in the third quarter. Millennium Management LLC now owns 99,213 shares of the specialty chemicals company’s stock worth $6,056,000 after acquiring an additional 42,572 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Oil-Dri Corporation Of America by 9.6% in the third quarter. American Century Companies Inc. now owns 401,152 shares of the specialty chemicals company’s stock worth $24,486,000 after acquiring an additional 35,302 shares in the last quarter. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

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.