Bank of New York Mellon Corp Lowers Stake in Oil-Dri Co. of America (NYSE:ODC)

Bank of New York Mellon Corp cut its position in Oil-Dri Co. of America (NYSE:ODC) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,740 shares of the specialty chemicals company’s stock after selling 4,503 shares during the period. Bank of New York Mellon Corp owned about 0.33% of Oil-Dri Co. of America worth $4,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ODC. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Oil-Dri Co. of America by 5.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,500 shares of the specialty chemicals company’s stock worth $379,000 after buying an additional 271 shares during the period. Moran Wealth Management LLC bought a new position in shares of Oil-Dri Co. of America in the third quarter worth about $606,000. Foundry Partners LLC boosted its stake in shares of Oil-Dri Co. of America by 1.0% in the third quarter. Foundry Partners LLC now owns 37,041 shares of the specialty chemicals company’s stock worth $2,555,000 after acquiring an additional 350 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Oil-Dri Co. of America by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,009 shares of the specialty chemicals company’s stock worth $966,000 after purchasing an additional 469 shares in the last quarter. Finally, FMR LLC raised its stake in Oil-Dri Co. of America by 81.6% during the 3rd quarter. FMR LLC now owns 445 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 200 shares during the period. 49.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Oil-Dri Co. of America

In other news, Director Amy Ryan sold 2,100 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $41.78, for a total transaction of $87,738.00. Following the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $162,942. This trade represents a 35.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Christopher B. Lamson sold 3,154 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $42.75, for a total value of $134,833.50. Following the completion of the sale, the vice president now owns 70,796 shares of the company’s stock, valued at $3,026,529. The trade was a 4.27 % decrease in their position. The disclosure for this sale can be found here. 11.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Oil-Dri Co. of America from a “buy” rating to a “hold” rating in a report on Friday, February 28th.

Oil-Dri Co. of America Trading Down 2.0 %

ODC stock opened at $47.77 on Wednesday. The firm has a fifty day moving average price of $43.74 and a 200 day moving average price of $29.00. Oil-Dri Co. of America has a fifty-two week low of $29.47 and a fifty-two week high of $49.72. The firm has a market cap of $697.14 million, a PE ratio of 15.43 and a beta of 0.44. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.61 and a current ratio of 2.63.

Oil-Dri Co. of America (NYSE:ODC) last announced its quarterly earnings results on Tuesday, March 11th. The specialty chemicals company reported $0.89 EPS for the quarter. The firm had revenue of $116.91 million during the quarter. Oil-Dri Co. of America had a net margin of 9.92% and a return on equity of 21.84%.

Oil-Dri Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be paid a dividend of $0.155 per share. The ex-dividend date is Friday, May 9th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.30%. Oil-Dri Co. of America’s dividend payout ratio is presently 19.81%.

Oil-Dri Co. of America Profile

Oil-Dri Corporation of America is a manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets. It operates through the Business to Business Products Group and Retail and Wholesale Products Group segments.