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

Oil-Dri Co. of America (NYSE:ODC)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $69.09 and traded as high as $70.83. Oil-Dri Co. of America shares last traded at $69.50, with a volume of 26,256 shares traded.

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, July 2nd.

Oil-Dri Co. of America Trading Down 1.4 %

The company has a debt-to-equity ratio of 0.24, a current ratio of 2.21 and a quick ratio of 1.39. The company has a market capitalization of $506.66 million, a price-to-earnings ratio of 12.78 and a beta of 0.59. The business has a fifty day moving average price of $67.03 and a 200 day moving average price of $69.07.

Oil-Dri Co. of America’s stock is set to split before the market opens on Friday, November 22nd. The 2-1 split was announced on Wednesday, October 9th. The newly issued shares will be issued to shareholders after the closing bell on Thursday, November 21st.

Oil-Dri Co. of America (NYSE:ODC) last issued its earnings results on Thursday, October 10th. The specialty chemicals company reported $1.17 EPS for the quarter. The business 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 1.78%. Oil-Dri Co. of America’s dividend payout ratio (DPR) is currently 22.79%.

Hedge Funds Weigh In On Oil-Dri Co. of America

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in Oil-Dri Co. of America by 20.9% in the first quarter. BNP Paribas Financial Markets now owns 2,440 shares of the specialty chemicals company’s stock valued at $182,000 after acquiring an additional 421 shares during the period. Ellsworth Advisors LLC increased its position in shares of Oil-Dri Co. of America by 6.6% during the 2nd quarter. Ellsworth Advisors LLC now owns 7,453 shares of the specialty chemicals company’s stock worth $478,000 after purchasing an additional 459 shares in the last quarter. Cardinal Capital Management lifted its holdings in Oil-Dri Co. of America by 1.1% during the 2nd quarter. Cardinal Capital Management now owns 46,239 shares of the specialty chemicals company’s stock valued at $2,963,000 after purchasing an additional 495 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Oil-Dri Co. of America by 9.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,490 shares of the specialty chemicals company’s stock valued at $633,000 after purchasing an additional 705 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Oil-Dri Co. of America by 19.4% in the second quarter. Rhumbline Advisers now owns 6,871 shares of the specialty chemicals company’s stock valued at $440,000 after buying an additional 1,115 shares in the last quarter. 49.01% of the stock is owned by institutional investors and hedge funds.

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.