Oil-Dri Co. of America (NYSE:ODC) Downgraded by StockNews.com

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

Oil-Dri Co. of America Stock Down 0.1 %

ODC opened at $61.66 on Tuesday. The business’s 50-day simple moving average is $73.81 and its 200-day simple moving average is $70.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.18 and a current ratio of 3.06. Oil-Dri Co. of America has a one year low of $54.80 and a one year high of $87.32. The stock has a market capitalization of $449.25 million, a P/E ratio of 10.38 and a beta of 0.61.

Oil-Dri Co. of America (NYSE:ODC) last issued its quarterly earnings results on Thursday, June 6th. The specialty chemicals company reported $1.07 earnings per share (EPS) for the quarter. Oil-Dri Co. of America had a return on equity of 22.80% and a net margin of 9.93%. The firm had revenue of $106.78 million for the quarter.

Oil-Dri Co. of America Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a $0.31 dividend. The ex-dividend date is Friday, August 9th. This represents a $1.24 dividend on an annualized basis and a yield of 2.01%. This is a positive change from Oil-Dri Co. of America’s previous quarterly dividend of $0.29. Oil-Dri Co. of America’s dividend payout ratio is presently 20.88%.

Insider Buying and Selling at Oil-Dri Co. of America

In other Oil-Dri Co. of America news, Director George C. Roeth sold 1,500 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $65.00, for a total value of $97,500.00. Following the completion of the transaction, the director now directly owns 4,000 shares in the company, valued at approximately $260,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.28% of the stock is currently owned by insiders.

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

A number of large investors have recently modified their holdings of the stock. Miracle Mile Advisors LLC bought a new stake in shares of Oil-Dri Co. of America in the fourth quarter worth $939,000. SG Americas Securities LLC raised its position in shares of Oil-Dri Co. of America by 27.9% during the 4th quarter. SG Americas Securities LLC now owns 2,280 shares of the specialty chemicals company’s stock worth $153,000 after purchasing an additional 498 shares during the period. Foundry Partners LLC grew its stake in Oil-Dri Co. of America by 0.8% during the 4th quarter. Foundry Partners LLC now owns 78,625 shares of the specialty chemicals company’s stock worth $5,274,000 after buying an additional 640 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Oil-Dri Co. of America by 0.4% during the third quarter. Vanguard Group Inc. now owns 269,360 shares of the specialty chemicals company’s stock valued at $16,633,000 after acquiring an additional 1,199 shares during the period. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Oil-Dri Co. of America in the third quarter valued at approximately $1,147,000. Institutional investors and hedge funds own 49.01% of the company’s stock.

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.