Oil-Dri Corporation Of America (NYSE:ODC) Stock Falls 6.2% – Here’s What Happened

Oil-Dri Corporation Of America (NYSE:ODC)’s stock price fell 6.2% during mid-day trading on Thursday. The company traded as low as $81.00 and last traded at $80.5490. 78,497 shares were traded during trading, a decline of 18% from the average daily volume of 96,186 shares. The stock had previously closed at $85.85.

Analyst Ratings Changes

Several equities research analysts have weighed in on ODC shares. Wall Street Zen lowered Oil-Dri Corporation Of America from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, Oil-Dri Corporation Of America currently has an average rating of “Buy”.

Oil-Dri Corporation Of America Stock Down 7.0%

The firm’s 50 day simple moving average is $88.56 and its 200 day simple moving average is $86.68. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 18.82 and a beta of 0.76. The company has a quick ratio of 2.28, a current ratio of 3.07 and a debt-to-equity ratio of 0.13.

Oil-Dri Corporation Of America (NYSE:ODC) last released its quarterly earnings results on Thursday, October 8th. The specialty chemicals company reported $1.00 earnings per share for the quarter. The company had revenue of $129.29 million for the quarter. Oil-Dri Corporation Of America had a return on equity of 20.31% and a net margin of 11.54%.

Oil-Dri Corporation Of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be given a $0.2250 dividend. This represents a $0.90 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, November 6th. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is currently 22.50%.

Insider Buying and Selling at Oil-Dri Corporation Of America

In other Oil-Dri Corporation Of America news, VP Christopher Lamson sold 7,000 shares of Oil-Dri Corporation Of America stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $80.27, for a total transaction of $561,890.00. Following the sale, the vice president owned 4,453 shares of the company’s stock, valued at $357,442.31. The trade was a 61.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy Ryan sold 1,100 shares of the business’s stock in a transaction on Friday, October 16th. The stock was sold at an average price of $78.80, for a total value of $86,680.00. Following the transaction, the director owned 2,800 shares of the company’s stock, valued at $220,640. This trade represents a 28.21% decrease in their position. The SEC filing for this sale provides additional information. 11.69% of the stock is owned by insiders.

Institutional Investors Weigh In On Oil-Dri Corporation Of America

A number of hedge funds and other institutional investors have recently modified their holdings of ODC. BlackRock Inc. acquired a new stake in Oil-Dri Corporation Of America in the second quarter worth about $84,762,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Oil-Dri Corporation Of America during the 2nd quarter valued at about $11,267,000. Bard Associates Inc. bought a new stake in shares of Oil-Dri Corporation Of America during the 2nd quarter worth about $10,071,000. Bank of New York Mellon Corp bought a new stake in shares of Oil-Dri Corporation Of America during the 2nd quarter worth about $9,575,000. Finally, PDT Partners LLC bought a new stake in shares of Oil-Dri Corporation Of America during the 2nd quarter worth about $3,353,000. 49.01% of the stock is currently owned by institutional investors.

Oil-Dri Corporation Of America Company Profile

Oil-Dri Corporation of America develops, manufactures and markets mineral-based products designed to absorb, filter and control liquids and odors. The company serves consumer, industrial, agricultural and specialty markets, using products such as fuller’s earth and other absorbent minerals in a range of applications.

Its consumer products include cat litter and related animal-care products sold under brands such as Cat’s Pride and Jonny Cat. Oil-Dri also supplies absorbent products for industrial and commercial uses, including spill cleanup, oil and grease absorption, moisture control, filtration, sports-field maintenance and other specialized applications.

Founded in 1941, Oil-Dri is headquartered in Chicago, Illinois.