StockNews.com Upgrades Oil-Dri Co. of America (NYSE:ODC) to “Buy”

Oil-Dri Co. of America (NYSE:ODC) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

Oil-Dri Co. of America Price Performance

Shares of NYSE:ODC traded down $2.27 on Monday, hitting $41.51. The company had a trading volume of 40,912 shares, compared to its average volume of 37,102. The company has a current ratio of 2.63, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The company has a market cap of $302.90 million, a PE ratio of 6.71 and a beta of 0.53. Oil-Dri Co. of America has a 52-week low of $29.47 and a 52-week high of $46.50. The business has a 50 day moving average of $23.44 and a 200 day moving average of $18.88.

Oil-Dri Co. of America (NYSE:ODC) last released its earnings results on Monday, December 9th. The specialty chemicals company reported $0.56 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%.

Insider Activity at Oil-Dri Co. of America

In other Oil-Dri Co. of America news, VP Laura G. Scheland sold 10,000 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $17.32, for a total transaction of $173,175.00. Following the transaction, the vice president now owns 61,360 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 11.66% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Needham Investment Management LLC increased its stake in Oil-Dri Co. of America by 10.8% during 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. grew its holdings 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. increased its position in 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 position in Oil-Dri Co. of America in the second quarter valued at approximately $1,181,000. Finally, Moran Wealth Management LLC acquired a new position in Oil-Dri Co. of America during the third quarter valued at approximately $606,000. 49.01% of the stock is owned by hedge funds and other institutional investors.

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.