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

Oil-Dri Co. of America (NYSE:ODC) shares 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.

Analyst Ratings Changes

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

Oil-Dri Co. of America Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.18 and a current ratio of 3.06. The stock’s 50 day moving average price is $66.45 and its 200 day moving average price is $69.27. The company has a market capitalization of $502.95 million, a P/E ratio of 11.62 and a beta of 0.59.

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

Oil-Dri Co. of America (NYSE:ODC) last issued its quarterly earnings results on Thursday, October 10th. The specialty chemicals company reported $1.17 earnings per share for the quarter. Oil-Dri Co. of America had a return on equity of 20.46% and a net margin of 9.01%. The firm had revenue of $113.70 million during the quarter.

Oil-Dri Co. of America Announces Dividend

The firm also recently announced 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 is Friday, November 8th. This represents a $1.24 annualized dividend and a yield of 1.80%. Oil-Dri Co. of America’s dividend payout ratio is currently 20.88%.

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

Several institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its stake in shares of Oil-Dri Co. of America by 20.9% in the 1st quarter. BNP Paribas Financial Markets now owns 2,440 shares of the specialty chemicals company’s stock valued at $182,000 after acquiring an additional 421 shares in the last quarter. Blair William & Co. IL bought a new stake in Oil-Dri Co. of America in the first quarter valued at $204,000. Janus Henderson Group PLC bought a new stake in Oil-Dri Co. of America in the first quarter valued at $245,000. Squarepoint Ops LLC raised its holdings in shares of Oil-Dri Co. of America by 40.8% during the second quarter. Squarepoint Ops LLC now owns 4,772 shares of the specialty chemicals company’s stock valued at $306,000 after purchasing an additional 1,383 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Oil-Dri Co. of America by 19.4% during the 2nd quarter. Rhumbline Advisers now owns 6,871 shares of the specialty chemicals company’s stock worth $440,000 after purchasing an additional 1,115 shares in the last quarter. 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.