Oil-Dri Co. of America (NYSE:ODC) Stock Price Up 6.3% Following Dividend Announcement

Oil-Dri Co. of America (NYSE:ODC) shares shot up 6.3% during trading on Wednesday following a dividend announcement from the company. The company traded as high as $85.65 and last traded at $85.65. 26,045 shares changed hands during mid-day trading, an increase of 36% from the average session volume of 19,158 shares. The stock had previously closed at $80.60.

The newly announced dividend which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.62 annualized dividend and a dividend yield of 0.71%. Oil-Dri Co. of America’s payout ratio is 20.03%.

Oil-Dri Co. of America Price Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 2.63 and a quick ratio of 1.39. The company has a fifty day moving average of $70.00 and a 200-day moving average of $68.12. The firm has a market cap of $635.25 million, a P/E ratio of 14.08 and a beta of 0.58.

Oil-Dri Co. of America (NYSE:ODC) last announced its earnings results on Thursday, October 10th. The specialty chemicals company reported $1.17 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 company had revenue of $113.70 million during the quarter.

Insider Transactions 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 dated Friday, October 18th. The shares were sold at an average price of $69.27, for a total value 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 11.66% of the company’s stock.

Institutional Trading of Oil-Dri Co. of America

Hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. purchased a new stake in shares of Oil-Dri Co. of America during the 3rd quarter worth approximately $216,000. Barclays PLC grew its holdings in Oil-Dri Co. of America by 41.5% during the third quarter. Barclays PLC now owns 9,743 shares of the specialty chemicals company’s stock valued at $673,000 after purchasing an additional 2,859 shares during the period. State Street Corp raised its stake in shares of Oil-Dri Co. of America by 2.1% in the third quarter. State Street Corp now owns 103,006 shares of the specialty chemicals company’s stock valued at $7,106,000 after buying an additional 2,114 shares during the period. Needham Investment Management LLC lifted its position in shares of Oil-Dri Co. of America by 10.8% during the 3rd 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. Finally, Janus Henderson Group PLC lifted its position in shares of Oil-Dri Co. of America by 30.2% during the 3rd quarter. Janus Henderson Group PLC now owns 4,253 shares of the specialty chemicals company’s stock valued at $293,000 after buying an additional 986 shares during the last quarter. 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.