Oil-Dri Co. of America (NYSE:ODC) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Oil-Dri Co. of America (NYSE:ODC)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $68.29 and traded as high as $87.31. Oil-Dri Co. of America shares last traded at $87.28, with a volume of 11,586 shares trading hands.

Oil-Dri Co. of America Price Performance

The stock has a 50 day moving average of $74.10 and a two-hundred day moving average of $68.57. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 2.63. The stock has a market cap of $646.59 million, a PE ratio of 14.32 and a beta of 0.58.

Shares of Oil-Dri Co. of America are going to split on the morning of Monday, January 6th. The 2-1 split was announced on Thursday, December 12th. The newly issued shares will be issued to shareholders after the closing bell on Friday, January 3rd.

Oil-Dri Co. of America (NYSE:ODC) last released its quarterly 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 9.92% and a return on equity of 21.84%. The business had revenue of $113.70 million for the quarter.

Oil-Dri Co. of America Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.155 per share. The ex-dividend date is Friday, February 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.70%. Oil-Dri Co. of America’s dividend payout ratio is 10.02%.

Insider Activity at Oil-Dri Co. of America

In related news, VP Laura G. Scheland sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $69.27, for a total transaction of $173,175.00. Following the transaction, the vice president now directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 11.66% of the stock is owned by insiders.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Needham Investment Management LLC increased its stake in shares of 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 worth $18,455,000 after acquiring an additional 26,000 shares during the last quarter. American Century Companies Inc. increased its position in Oil-Dri Co. of America by 24.3% in the 2nd quarter. American Century Companies Inc. now owns 111,348 shares of the specialty chemicals company’s stock worth $7,136,000 after purchasing an additional 21,740 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Oil-Dri Co. of America by 1,617.3% during the 2nd quarter. Victory Capital Management Inc. now owns 22,685 shares of the specialty chemicals company’s stock worth $1,454,000 after purchasing an additional 21,364 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of Oil-Dri Co. of America during the 2nd quarter worth about $1,181,000. Finally, Moran Wealth Management LLC acquired a new stake in shares of Oil-Dri Co. of America during the 3rd quarter valued at about $606,000. Hedge funds and other institutional investors 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.