StockNews.com Downgrades Oil-Dri Co. of America (NYSE:ODC) to Hold

StockNews.com downgraded shares of Oil-Dri Co. of America (NYSE:ODC) from a buy rating to a hold rating in a research note released on Thursday morning.

Oil-Dri Co. of America Stock Down 1.6 %

ODC opened at $43.48 on Thursday. Oil-Dri Co. of America has a 12 month low of $29.47 and a 12 month high of $49.72. The company has a current ratio of 2.63, a quick ratio of 1.61 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average price is $44.71 and its 200-day moving average price is $31.60. The company has a market cap of $634.53 million, a P/E ratio of 14.05 and a beta of 0.44.

Oil-Dri Co. of America (NYSE:ODC) last announced its quarterly earnings results on Tuesday, March 11th. The specialty chemicals company reported $0.89 EPS for the quarter. Oil-Dri Co. of America had a return on equity of 21.84% and a net margin of 9.92%. The business had revenue of $116.91 million for the quarter.

Oil-Dri Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be given a dividend of $0.155 per share. The ex-dividend date is Friday, May 9th. This represents a $0.62 annualized dividend and a yield of 1.43%. Oil-Dri Co. of America’s payout ratio is currently 19.81%.

Insiders Place Their Bets

In other Oil-Dri Co. of America news, Director Amy Ryan sold 2,100 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $41.78, for a total value of $87,738.00. Following the completion of the sale, the director now owns 3,900 shares in the company, valued at approximately $162,942. This trade represents a 35.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher B. Lamson sold 3,154 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $42.75, for a total value of $134,833.50. Following the transaction, the vice president now directly owns 70,796 shares in the company, valued at $3,026,529. This trade represents a 4.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.66% of the company’s stock.

Institutional Investors Weigh In On Oil-Dri Co. of America

Several institutional investors and hedge funds have recently modified their holdings of ODC. Victory Capital Management Inc. increased its position in shares of Oil-Dri Co. of America by 17.8% during the fourth quarter. Victory Capital Management Inc. now owns 26,793 shares of the specialty chemicals company’s stock valued at $2,348,000 after buying an additional 4,050 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Oil-Dri Co. of America by 18.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,500 shares of the specialty chemicals company’s stock worth $570,000 after acquiring an additional 1,000 shares during the period. American Century Companies Inc. raised its position in shares of Oil-Dri Co. of America by 11.5% in the 4th quarter. American Century Companies Inc. now owns 146,239 shares of the specialty chemicals company’s stock worth $12,816,000 after acquiring an additional 15,041 shares in the last quarter. Royce & Associates LP lifted its stake in shares of Oil-Dri Co. of America by 2.5% in the 4th quarter. Royce & Associates LP now owns 166,000 shares of the specialty chemicals company’s stock valued at $14,548,000 after purchasing an additional 4,000 shares during the period. Finally, Blair William & Co. IL bought a new stake in shares of Oil-Dri Co. of America during the fourth quarter valued at approximately $240,000. 49.01% of the stock is owned by hedge funds and other institutional investors.

About Oil-Dri Co. of America

Oil-Dri Corporation of America is a manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets. It operates through the Business to Business Products Group and Retail and Wholesale Products Group segments.