Oil-Dri Co. of America (NYSE:ODC) Shares Gap Up – Still a Buy?

Oil-Dri Co. of America (NYSE:ODC) shares gapped up prior to trading on Tuesday . The stock had previously closed at $68.75, but opened at $75.07. Oil-Dri Co. of America shares last traded at $77.91, with a volume of 19,665 shares changing hands.

Oil-Dri Co. of America Stock Up 6.3 %

The business’s 50 day moving average is $69.58 and its 200-day moving average is $67.99. 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 market cap of $624.39 million, a PE ratio of 13.84 and a beta of 0.58.

Oil-Dri Co. of America (NYSE:ODC) last released its quarterly earnings data on Thursday, October 10th. The specialty chemicals company reported $1.17 earnings per share (EPS) for the quarter. Oil-Dri Co. of America had a return on equity of 21.84% and a net margin of 9.92%. The business had revenue of $113.70 million during the quarter.

Oil-Dri Co. of America Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.72%. Oil-Dri Co. of America’s dividend payout ratio (DPR) is presently 20.03%.

Insiders Place Their Bets

In other news, VP Laura G. Scheland sold 2,500 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $69.27, for a total value of $173,175.00. Following the completion of the sale, the vice president now owns 15,340 shares in the company, valued at approximately $1,062,601.80. This trade represents a 14.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.66% of the stock is currently owned by corporate insiders.

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

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in Oil-Dri Co. of America by 81.6% during the third quarter. FMR LLC now owns 445 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Oil-Dri Co. of America during the 3rd quarter worth approximately $216,000. Janus Henderson Group PLC raised 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 worth $293,000 after purchasing an additional 986 shares during the last quarter. Squarepoint Ops LLC grew its holdings in 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 valued at $306,000 after buying an additional 1,383 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Oil-Dri Co. of America by 5.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,500 shares of the specialty chemicals company’s stock valued at $379,000 after acquiring an additional 271 shares in the last quarter. Hedge funds and other 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.