Oil-Dri Corporation Of America (NYSE:ODC) Announces Earnings Results

Oil-Dri Corporation Of America (NYSE:ODC) posted its quarterly earnings data on Monday. The specialty chemicals company reported $1.00 EPS for the quarter, FiscalAI reports. Oil-Dri Corporation Of America had a net margin of 11.01% and a return on equity of 20.18%. The company had revenue of $126.33 million during the quarter. During the same period in the prior year, the company posted $0.80 earnings per share.

Oil-Dri Corporation Of America Price Performance

NYSE ODC opened at $84.25 on Tuesday. The company has a 50 day simple moving average of $73.99 and a 200-day simple moving average of $63.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.45 and a quick ratio of 2.40. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 22.83 and a beta of 0.82. Oil-Dri Corporation Of America has a 52-week low of $45.61 and a 52-week high of $86.50.

Oil-Dri Corporation Of America Increases Dividend

The business also recently declared 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 represents a $0.90 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, August 7th. Oil-Dri Corporation Of America’s payout ratio is currently 22.22%.

Insider Buying and Selling

In related news, Director Ellen-Blair Chube sold 1,390 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The stock was 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 in the company, valued at approximately $652,425.80. This represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul Hindsley sold 6,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 11,000 shares in the company, valued at $702,900. This represents a 35.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 11.69% of the company’s stock.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

Hedge funds have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL grew its holdings in Oil-Dri Corporation Of America by 190.4% during the third quarter. Tudor Investment Corp ET AL now owns 52,935 shares of the specialty chemicals company’s stock valued at $3,231,000 after purchasing an additional 34,706 shares during the last quarter. American Century Companies Inc. lifted 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 purchasing an additional 35,302 shares during the period. JPMorgan Chase & Co. lifted its position in Oil-Dri Corporation Of America by 206.3% in the third quarter. JPMorgan Chase & Co. now owns 43,921 shares of the specialty chemicals company’s stock worth $2,681,000 after purchasing an additional 29,583 shares during the period. Allianz Asset Management GmbH bought a new position in shares of Oil-Dri Corporation Of America during the third quarter valued at $483,000. Finally, Teton Advisors LLC bought a new position in shares of Oil-Dri Corporation Of America during the third quarter valued at $842,000. Institutional investors and hedge funds own 49.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ODC. Wall Street Zen lowered shares of Oil-Dri Corporation Of America from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings raised shares of Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy”.

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.