Oil-Dri Co. of America (NYSE:ODC) Stock Price Up 6.3% – Still a Buy?

Shares of Oil-Dri Co. of America (NYSE:ODC) rose 6.3% on Wednesday . The stock traded as high as $85.65 and last traded at $85.65. Approximately 26,045 shares were traded during mid-day trading, an increase of 36% from the average daily volume of 19,158 shares. The stock had previously closed at $80.60.

Oil-Dri Co. of America Stock Up 6.4 %

The firm’s 50 day moving average is $69.21 and its two-hundred day moving average is $67.87. The stock has a market cap of $625.04 million, a price-to-earnings ratio of 14.82 and a beta of 0.58. The company has a current ratio of 2.21, a quick ratio of 1.39 and a debt-to-equity ratio of 0.24.

Oil-Dri Co. of America (NYSE:ODC) last announced its 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 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 was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, November 8th. Oil-Dri Co. of America’s payout ratio is currently 22.79%.

Insider Transactions at Oil-Dri Co. of America

In other Oil-Dri Co. of America news, VP Laura G. Scheland sold 2,500 shares of the 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 $1,062,601.80. This trade represents a 14.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 11.66% of the company’s stock.

Institutional Trading of Oil-Dri Co. of America

A number of hedge funds have recently made changes to their positions in the stock. Needham Investment Management LLC lifted its stake in Oil-Dri Co. of America by 10.8% in the third quarter. Needham Investment Management LLC now owns 267,500 shares of the specialty chemicals company’s stock valued at $18,455,000 after buying an additional 26,000 shares during the last quarter. American Century Companies Inc. lifted its stake in Oil-Dri Co. of America by 24.3% in the second quarter. American Century Companies Inc. now owns 111,348 shares of the specialty chemicals company’s stock valued at $7,136,000 after buying an additional 21,740 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Oil-Dri Co. of America by 1,617.3% in the second quarter. Victory Capital Management Inc. now owns 22,685 shares of the specialty chemicals company’s stock valued at $1,454,000 after buying an additional 21,364 shares during the last quarter. ProShare Advisors LLC bought a new stake in Oil-Dri Co. of America in the second quarter valued at $1,181,000. Finally, Moran Wealth Management LLC bought a new stake in Oil-Dri Co. of America in the third quarter valued at $606,000. Institutional investors and hedge funds own 49.01% of the company’s stock.

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.