Oil-Dri Co. of America (NYSE:ODC) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Oil-Dri Co. of America (NYSE:ODC) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $68.96 and traded as high as $69.31. Oil-Dri Co. of America shares last traded at $68.82, with a volume of 10,140 shares traded.

Oil-Dri Co. of America Price Performance

The company’s 50-day moving average is $68.76 and its two-hundred day moving average is $68.96. The firm has a market cap of $514.75 million, a P/E ratio of 12.86 and a beta of 0.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.21 and a quick ratio of 1.39.

Oil-Dri Co. of America (NYSE:ODC) last posted its quarterly earnings results on Thursday, October 10th. The specialty chemicals company reported $1.17 EPS for the quarter. The company had revenue of $113.70 million during the quarter. Oil-Dri Co. of America had a return on equity of 20.06% and a net margin of 9.01%.

Oil-Dri Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.31 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a yield of 1.76%. Oil-Dri Co. of America’s payout ratio is presently 22.79%.

Insiders Place Their Bets

In related news, VP Laura G. Scheland sold 2,500 shares of the stock in a transaction 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 $1,062,601.80. This 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 can be accessed through the SEC website. Insiders own 11.66% of the company’s stock.

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

Several hedge funds and other institutional investors have recently modified their holdings of ODC. Needham Investment Management LLC raised its holdings 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 valued at $18,455,000 after purchasing an additional 26,000 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Oil-Dri Co. of America by 24.3% during 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 period. Victory Capital Management Inc. boosted its holdings in shares of Oil-Dri Co. of America by 1,617.3% in the 2nd quarter. Victory Capital Management Inc. now owns 22,685 shares of the specialty chemicals company’s stock worth $1,454,000 after buying an additional 21,364 shares during the last quarter. ProShare Advisors LLC bought a new position in Oil-Dri Co. of America during the second quarter valued at about $1,181,000. Finally, Moran Wealth Management LLC purchased a new stake in Oil-Dri Co. of America during the third quarter worth about $606,000. Institutional investors 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.