Oil-Dri Co. of America (NYSE:ODC) Shares Gap Up – Should You Buy?

Oil-Dri Co. of America (NYSE:ODC) gapped up before the market opened on Friday . The stock had previously closed at $66.93, but opened at $68.75. Oil-Dri Co. of America shares last traded at $68.61, with a volume of 8,648 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Oil-Dri Co. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd.

Oil-Dri Co. of America Price Performance

The company’s 50 day moving average is $66.37 and its 200-day moving average is $69.30. The company has a current ratio of 3.06, a quick ratio of 2.18 and a debt-to-equity ratio of 0.20. The stock has a market cap of $503.30 million, a PE ratio of 11.27 and a beta of 0.59.

Oil-Dri Co. of America’s stock is going to split on the morning of Friday, November 22nd. The 2-1 split was announced on Wednesday, October 9th. The newly created shares will be issued to shareholders after the market closes on Thursday, November 21st.

Oil-Dri Co. of America (NYSE:ODC) last announced its quarterly earnings data on Thursday, October 10th. The specialty chemicals company reported $1.17 earnings per share (EPS) for the quarter. Oil-Dri Co. of America had a return on equity of 22.80% and a net margin of 9.93%. The firm had revenue of $113.70 million for the quarter.

Oil-Dri Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a yield of 1.80%. Oil-Dri Co. of America’s payout ratio is currently 20.88%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. boosted its position in Oil-Dri Co. of America by 24.3% during the 2nd quarter. American Century Companies Inc. now owns 111,348 shares of the specialty chemicals company’s stock worth $7,136,000 after acquiring an additional 21,740 shares during the period. Victory Capital Management Inc. grew its position in Oil-Dri Co. of America by 1,617.3% in the 2nd quarter. Victory Capital Management Inc. now owns 22,685 shares of the specialty chemicals company’s stock valued at $1,454,000 after buying an additional 21,364 shares in the last quarter. ProShare Advisors LLC acquired a new position in Oil-Dri Co. of America during the 2nd quarter valued at about $1,181,000. Marshall Wace LLP increased its stake in shares of Oil-Dri Co. of America by 50.5% during the second quarter. Marshall Wace LLP now owns 21,933 shares of the specialty chemicals company’s stock valued at $1,406,000 after acquiring an additional 7,364 shares during the period. Finally, Hillsdale Investment Management Inc. grew its holdings in Oil-Dri Co. of America by 7.7% during the first quarter. Hillsdale Investment Management Inc. now owns 68,400 shares of the specialty chemicals company’s stock worth $5,100,000 after acquiring an additional 4,900 shares during the period. 49.01% of the stock is owned by institutional investors and hedge funds.

Oil-Dri Co. of America Company Profile

Oil-Dri Corporation of America, together with its subsidiaries, develops, manufactures, and markets sorbent products in the United States and internationally. It operates in 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 that serve as carriers for biological and chemical active ingredients, drying agents, and growing media under the Agsorb, Verge, and Flo-Fre brand names.