Oil-Dri Co. of America (NYSE:ODC) Sees Large Decline in Short Interest

Oil-Dri Co. of America (NYSE:ODCGet Free Report) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 80,000 shares, a decrease of 16.1% from the September 30th total of 95,300 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average daily volume of 17,400 shares, the short-interest ratio is currently 4.6 days.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Oil-Dri Co. of America from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd.

Get Our Latest Stock Report on Oil-Dri Co. of America

Insider Buying and Selling

In other Oil-Dri Co. of America news, VP Laura G. Scheland sold 2,500 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was 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 in the company, valued at $1,062,601.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Oil-Dri Co. of America

Several institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised 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 worth $182,000 after purchasing an additional 421 shares in the last quarter. Blair William & Co. IL acquired a new position in shares of Oil-Dri Co. of America in the 1st quarter worth approximately $204,000. Janus Henderson Group PLC bought a new position in shares of Oil-Dri Co. of America during the 1st quarter worth approximately $245,000. Squarepoint Ops LLC lifted its position in shares of Oil-Dri Co. of America by 40.8% during the 2nd quarter. Squarepoint Ops LLC now owns 4,772 shares of the specialty chemicals company’s stock worth $306,000 after buying an additional 1,383 shares during the period. Finally, Rhumbline Advisers boosted its stake in Oil-Dri Co. of America by 19.4% in the 2nd 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 currently owned by institutional investors and hedge funds.

Oil-Dri Co. of America Stock Performance

NYSE ODC traded down $0.64 during trading on Wednesday, hitting $68.16. The company’s stock had a trading volume of 7,231 shares, compared to its average volume of 18,950. Oil-Dri Co. of America has a 52 week low of $54.91 and a 52 week high of $87.32. The firm has a market cap of $496.89 million, a P/E ratio of 12.63 and a beta of 0.59. The firm has a 50 day moving average price of $67.63 and a 200 day moving average price of $68.97. The company has a quick ratio of 1.39, a current ratio of 2.21 and a debt-to-equity ratio of 0.24.

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:ODCGet Free Report) last released its quarterly earnings data on Thursday, October 10th. The specialty chemicals company reported $1.17 earnings per share (EPS) for the quarter. The business had revenue of $113.70 million for 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Friday, November 8th. Oil-Dri Co. of America’s dividend payout ratio is 22.79%.

Oil-Dri Co. of America Company Profile

(Get Free Report)

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.

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