Mariner LLC Makes New Investment in Oil-Dri Co. of America (NYSE:ODC)

Mariner LLC purchased a new stake in shares of Oil-Dri Co. of America (NYSE:ODC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,529 shares of the specialty chemicals company’s stock, valued at approximately $222,000.

Several other hedge funds have also made changes to their positions in the company. American Century Companies Inc. raised its stake in Oil-Dri Co. of America by 11.5% during the 4th quarter. American Century Companies Inc. now owns 146,239 shares of the specialty chemicals company’s stock valued at $12,816,000 after purchasing an additional 15,041 shares during the period. JPMorgan Chase & Co. raised its position in Oil-Dri Co. of America by 238.0% during the fourth quarter. JPMorgan Chase & Co. now owns 8,116 shares of the specialty chemicals company’s stock valued at $711,000 after buying an additional 5,715 shares during the period. Victory Capital Management Inc. lifted its stake in Oil-Dri Co. of America by 17.8% in the 4th quarter. Victory Capital Management Inc. now owns 26,793 shares of the specialty chemicals company’s stock worth $2,348,000 after acquiring an additional 4,050 shares in the last quarter. Royce & Associates LP boosted its position in Oil-Dri Co. of America by 2.5% during the 4th quarter. Royce & Associates LP now owns 166,000 shares of the specialty chemicals company’s stock worth $14,548,000 after acquiring an additional 4,000 shares during the period. Finally, Barclays PLC grew its stake in Oil-Dri Co. of America by 41.5% during the 3rd quarter. Barclays PLC now owns 9,743 shares of the specialty chemicals company’s stock valued at $673,000 after acquiring an additional 2,859 shares in the last quarter. Hedge funds and other institutional investors own 49.01% of the company’s stock.

Oil-Dri Co. of America Stock Up 0.5 %

ODC stock opened at $44.05 on Wednesday. The company has a 50 day moving average of $44.64 and a two-hundred day moving average of $35.79. The company has a market cap of $642.91 million, a price-to-earnings ratio of 14.23 and a beta of 0.54. Oil-Dri Co. of America has a 12-month low of $29.47 and a 12-month high of $49.72. The company has a quick ratio of 1.61, a current ratio of 2.63 and a debt-to-equity ratio of 0.20.

Oil-Dri Co. of America (NYSE:ODC) last announced its quarterly earnings data on Tuesday, March 11th. The specialty chemicals company reported $0.89 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 $116.91 million during the quarter.

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 $0.155 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.62 annualized dividend and a dividend yield of 1.41%. Oil-Dri Co. of America’s payout ratio is 19.81%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Oil-Dri Co. of America from a “hold” rating to a “buy” rating in a research report on Monday, April 28th.

Insider Buying and Selling

In other Oil-Dri Co. of America news, Director Ellen-Blair Chube sold 3,500 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $42.51, for a total transaction of $148,785.00. Following the transaction, the director now directly owns 11,820 shares of the company’s stock, valued at $502,468.20. This represents a 22.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 11.66% of the stock is currently owned by corporate insiders.

Oil-Dri Co. of America Company 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.