Oil-Dri Corporation Of America (NYSE:ODC) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened
by Danessa Lincoln · The Markets DailyOil-Dri Corporation Of America (NYSE:ODC – Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $58.64 and traded as high as $68.23. Oil-Dri Corporation Of America shares last traded at $67.7410, with a volume of 60,909 shares.
Analyst Ratings Changes
Several equities analysts have commented on ODC shares. Wall Street Zen cut shares of Oil-Dri Corporation Of America from a “strong-buy” rating to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oil-Dri Corporation Of America in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy”.
Read Our Latest Analysis on ODC
Oil-Dri Corporation Of America Price Performance
The stock’s 50 day moving average is $63.70 and its two-hundred day moving average is $58.64. The stock has a market capitalization of $980.89 million, a PE ratio of 18.36 and a beta of 0.79. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.45 and a quick ratio of 2.40.
Oil-Dri Corporation Of America Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be paid a dividend of $0.205 per share. The ex-dividend date is Friday, May 8th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.2%. Oil-Dri Corporation Of America’s payout ratio is presently 22.22%.
Insider Buying and Selling
In related news, Director Paul Hindsley sold 6,000 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $63.90, for a total value of $383,400.00. Following the transaction, the director owned 11,000 shares of the company’s stock, valued at $702,900. This represents a 35.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 11.69% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. Legal & General Group Plc raised its position in shares of Oil-Dri Corporation Of America by 20.1% during the 2nd quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company’s stock worth $63,000 after acquiring an additional 178 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Oil-Dri Corporation Of America by 57.4% in the second quarter. Russell Investments Group Ltd. now owns 502 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 183 shares in the last quarter. Cardinal Capital Management increased its stake in Oil-Dri Corporation Of America by 0.3% in the fourth quarter. Cardinal Capital Management now owns 87,950 shares of the specialty chemicals company’s stock valued at $4,304,000 after purchasing an additional 279 shares during the last quarter. Franklin Resources Inc. raised its holdings in Oil-Dri Corporation Of America by 4.1% during the third quarter. Franklin Resources Inc. now owns 7,280 shares of the specialty chemicals company’s stock worth $444,000 after purchasing an additional 284 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Oil-Dri Corporation Of America by 9.4% during the fourth quarter. SG Americas Securities LLC now owns 4,567 shares of the specialty chemicals company’s stock worth $224,000 after purchasing an additional 391 shares in the last quarter. Hedge funds and other institutional investors own 49.01% of the company’s stock.
About Oil-Dri Corporation Of America
Oil-Dri Corporation of America is a specialty materials company that develops, manufactures and markets sorbent and filtration products for industrial, environmental and consumer applications. Its flagship offerings include clay- and diatomaceous earth–based cat litters, calcium silicate absorbents for spill control and cleanup, and purification media designed to remove contaminants from petroleum, chemical and food-processing streams.
Founded in 1941 and headquartered in Chicago, Illinois, the company has evolved from a single-product operation into a diversified provider of mineral- and chemical-based solutions.