Oil-Dri Co. of America (NYSE:ODC) Reaches New 52-Week High – Here’s Why

Shares of Oil-Dri Co. of America (NYSE:ODC) hit a new 52-week high during trading on Friday . The company traded as high as $70.16 and last traded at $70.16, with a volume of 574 shares changing hands. The stock had previously closed at $34.83.

Oil-Dri Co. of America Stock Up 100.9 %

The stock has a market capitalization of $510.08 million, a PE ratio of 12.80 and a beta of 0.59. The stock’s 50-day moving average price is $68.76 and its two-hundred day moving average price is $68.96. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.39 and a current ratio of 2.21.

Oil-Dri Co. of America (NYSE:ODC) last released its earnings results 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 net margin of 9.01% and a return on equity of 20.06%. The firm had revenue of $113.70 million during the quarter.

Oil-Dri Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.31 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.24 annualized dividend and a yield of 1.77%. Oil-Dri Co. of America’s dividend payout ratio (DPR) is presently 22.79%.

Insider Activity

In other Oil-Dri Co. of America news, VP Laura G. Scheland sold 2,500 shares of Oil-Dri Co. of America stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $69.27, for a total value of $173,175.00. Following the completion of the sale, the vice president now owns 15,340 shares of the company’s stock, valued at approximately $1,062,601.80. The trade was a 14.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.66% of the company’s stock.

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

Several hedge funds and other institutional investors have recently modified their holdings of ODC. FMR LLC lifted its holdings in Oil-Dri Co. of America by 81.6% in the third quarter. FMR LLC now owns 445 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 200 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Oil-Dri Co. of America by 20.9% in the first quarter. BNP Paribas Financial Markets now owns 2,440 shares of the specialty chemicals company’s stock worth $182,000 after buying an additional 421 shares during the last quarter. Blair William & Co. IL bought a new stake in Oil-Dri Co. of America during the first quarter valued at approximately $204,000. Janus Henderson Group PLC bought a new stake in Oil-Dri Co. of America during the first quarter valued at approximately $245,000. Finally, Squarepoint Ops LLC raised its position in Oil-Dri Co. of America by 40.8% in the second quarter. Squarepoint Ops LLC now owns 4,772 shares of the specialty chemicals company’s stock worth $306,000 after acquiring an additional 1,383 shares during the period. 49.01% of the stock is owned by institutional investors.

About Oil-Dri Co. of America

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.