Ocean Bio-Chem, Inc. (NASDAQ:OBCI) Sees Large Decrease in Short Interest

Ocean Bio-Chem, Inc. (NASDAQ:OBCIGet Rating) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totalling 20,700 shares, a decrease of 19.1% from the March 31st total of 25,600 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily volume of 5,800 shares, the days-to-cover ratio is presently 3.6 days.

Separately, StockNews.com started coverage on Ocean Bio-Chem in a report on Wednesday, April 27th. They issued a “buy” rating for the company.

OBCI opened at $7.78 on Tuesday. The business has a 50-day moving average price of $8.44. Ocean Bio-Chem has a 12-month low of $7.50 and a 12-month high of $15.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 9.11 and a quick ratio of 5.49. The stock has a market cap of $73.99 million, a PE ratio of 8.84 and a beta of 0.35.

The business also recently announced a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Thursday, March 10th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Wednesday, March 9th. This is a positive change from Ocean Bio-Chem’s previous quarterly dividend of $0.03. Ocean Bio-Chem’s payout ratio is 18.18%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stifel Financial Corp lifted its stake in shares of Ocean Bio-Chem by 14.5% in the 4th quarter. Stifel Financial Corp now owns 25,475 shares of the company’s stock valued at $222,000 after acquiring an additional 3,225 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Ocean Bio-Chem by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 79,472 shares of the company’s stock valued at $691,000 after acquiring an additional 1,988 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Ocean Bio-Chem in the 3rd quarter valued at about $93,000. Finally, BlackRock Inc. lifted its stake in shares of Ocean Bio-Chem by 637.3% in the 3rd quarter. BlackRock Inc. now owns 10,846 shares of the company’s stock valued at $102,000 after acquiring an additional 9,375 shares during the last quarter. 8.03% of the stock is owned by institutional investors.

Ocean Bio-Chem Company Profile (Get Rating)

Ocean Bio-Chem, Inc manufactures, markets, and distributes appearance, performance, and maintenance products for the marine, automotive, power sports, recreational vehicle, home care, and outdoor power equipment markets in the United States and Canada. The company offers marine products, including polishes, cleaners, protectants, waxes, enzyme fuel treatments, private label products, motor and teak oils, boat washes, vinyl and teak cleaners, bilge and hull cleaners, silicone and polyurethane sealants, polysulfide sealants, gasket materials, lubricants, antifouling additives, and anti-freeze coolants; and brushes, brush handles, tie-downs, and other related accessories.

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