Oil-Dri Corporation Of America (NYSE:ODC) Sees Strong Trading Volume – Still a Buy?

Oil-Dri Corporation Of America (NYSE:ODC) shares saw strong trading volume on Tuesday . 75,396 shares traded hands during mid-day trading, an increase of 19% from the previous session’s volume of 63,281 shares.The stock last traded at $75.77 and had previously closed at $76.17.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ODC shares. Weiss Ratings raised Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Wall Street Zen cut Oil-Dri Corporation Of America from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy”.

Oil-Dri Corporation Of America Trading Down 0.1%

The business has a 50 day simple moving average of $69.40 and a 200-day simple moving average of $61.05. The stock has a market capitalization of $1.10 billion, a P/E ratio of 20.62 and a beta of 0.82. 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 Dividend Announcement

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 dividend of $0.205 per share. The ex-dividend date is Friday, May 8th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.1%. Oil-Dri Corporation Of America’s payout ratio is currently 22.22%.

Insiders Place Their Bets

In related news, 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 transaction, the director directly owned 11,000 shares of the company’s stock, valued at approximately $702,900. The trade was a 35.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ellen-Blair Chube sold 1,390 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $73.06, for a total value of $101,553.40. Following the sale, the director owned 8,930 shares of the company’s stock, valued at $652,425.80. The trade was a 13.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 11.69% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

A number of large investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its holdings in shares of Oil-Dri Corporation Of America by 20.8% during the first quarter. Bank of America Corp DE now owns 14,223 shares of the specialty chemicals company’s stock worth $926,000 after purchasing an additional 2,445 shares during the period. Janus Henderson Group PLC purchased a new stake in Oil-Dri Corporation Of America in the 1st quarter worth approximately $259,000. Quantinno Capital Management LP boosted its stake in shares of Oil-Dri Corporation Of America by 16.4% during the 1st quarter. Quantinno Capital Management LP now owns 8,944 shares of the specialty chemicals company’s stock valued at $582,000 after buying an additional 1,259 shares during the period. Allspring Global Investments Holdings LLC boosted its stake 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 valued at $5,550,000 after buying an additional 12,462 shares during the period. Finally, Valmark Advisers Inc. purchased a new position in shares of Oil-Dri Corporation Of America during the 1st quarter valued at $212,000. Institutional investors and hedge funds 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.