Oil-Dri Co. of America (NYSE:ODC) Sees Unusually-High Trading Volume – Here’s What Happened

Oil-Dri Co. of America (NYSE:ODC) shares saw strong trading volume on Friday . 19,164 shares were traded during trading, a decline of 32% from the previous session’s volume of 28,212 shares.The stock last traded at $43.62 and had previously closed at $44.50.

Analyst Ratings Changes

Separately, StockNews.com downgraded Oil-Dri Co. of America from a “buy” rating to a “hold” rating in a report on Friday.

Oil-Dri Co. of America Stock Up 0.7 %

The company has a market capitalization of $641.30 million, a price-to-earnings ratio of 14.20 and a beta of 0.52. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.61 and a current ratio of 2.63. The business’s 50 day moving average is $42.44 and its 200 day moving average is $26.11.

Oil-Dri Co. of America (NYSE:ODC) last posted its quarterly earnings data on Monday, December 9th. The specialty chemicals company reported $0.56 EPS for the quarter. Oil-Dri Co. of America had a net margin of 9.92% and a return on equity of 21.84%.

Oil-Dri Co. of America Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Friday, February 21st. Oil-Dri Co. of America’s dividend payout ratio (DPR) is currently 20.00%.

Insiders Place Their Bets

In related news, VP Christopher B. Lamson sold 3,154 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now owns 70,796 shares of the company’s stock, valued at approximately $3,026,529. The trade was a 4.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy Ryan sold 2,100 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $41.78, for a total transaction of $87,738.00. Following the completion of the transaction, the director now directly owns 3,900 shares in the company, valued at $162,942. This represents a 35.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Oil-Dri Co. of America

Several hedge funds and other institutional investors have recently made changes to their positions in ODC. Forum Financial Management LP acquired a new position in Oil-Dri Co. of America in the 4th quarter valued at $571,000. Squarepoint Ops LLC raised its position in shares of Oil-Dri Co. of America by 7.3% in the fourth quarter. Squarepoint Ops LLC now owns 13,546 shares of the specialty chemicals company’s stock valued at $1,187,000 after buying an additional 924 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of Oil-Dri Co. of America in the fourth quarter worth about $228,000. Two Sigma Investments LP acquired a new position in Oil-Dri Co. of America during the fourth quarter worth about $522,000. Finally, ProShare Advisors LLC grew its stake in Oil-Dri Co. of America by 6.1% during the 4th quarter. ProShare Advisors LLC now owns 132,412 shares of the specialty chemicals company’s stock valued at $11,605,000 after acquiring an additional 7,606 shares in the last quarter. Hedge funds and other institutional investors own 49.01% of the company’s stock.

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.