Oil-Dri Co. of America (NYSE:ODC) Sees Significant Increase in Short Interest

Oil-Dri Co. of America (NYSE:ODC) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 80,900 shares, a growth of 28.2% from the May 31st total of 63,100 shares. Based on an average daily trading volume, of 20,500 shares, the short-interest ratio is presently 3.9 days. Approximately 1.7% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

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

Oil-Dri Co. of America Trading Down 2.9 %

Shares of ODC opened at $62.20 on Tuesday. The company has a market capitalization of $453.44 million, a P/E ratio of 10.47 and a beta of 0.62. Oil-Dri Co. of America has a one year low of $54.80 and a one year high of $87.32. 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 has a 50-day moving average price of $74.26 and a 200 day moving average price of $71.06.

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

Oil-Dri Co. of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.24 annualized dividend and a yield of 1.99%. This is a boost from Oil-Dri Co. of America’s previous quarterly dividend of $0.29. Oil-Dri Co. of America’s dividend payout ratio is presently 19.53%.

Insider Transactions at Oil-Dri Co. of America

In other news, Director George C. Roeth sold 1,500 shares of the company’s stock in a transaction dated 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 sale, the director now owns 4,000 shares of the company’s stock, valued at $260,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 12.28% of the company’s stock.

Institutional Trading of Oil-Dri Co. of America

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Oil-Dri Co. of America by 1.3% during the first quarter. Vanguard Group Inc. now owns 278,096 shares of the specialty chemicals company’s stock valued at $20,735,000 after buying an additional 3,676 shares in the last quarter. Foundry Partners LLC raised its position in shares of 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 purchasing an additional 640 shares during the period. Hillsdale Investment Management Inc. raised its position in shares of Oil-Dri Co. of America by 7.7% during the 1st quarter. Hillsdale Investment Management Inc. now owns 68,400 shares of the specialty chemicals company’s stock worth $5,100,000 after purchasing an additional 4,900 shares during the period. Cardinal Capital Management increased its position in Oil-Dri Co. of America by 5.1% in the 1st quarter. Cardinal Capital Management now owns 45,744 shares of the specialty chemicals company’s stock valued at $3,411,000 after acquiring an additional 2,224 shares during the period. Finally, Kennedy Capital Management LLC acquired a new stake in Oil-Dri Co. of America in the 3rd 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.