Oil-Dri Corporation Of America (NYSE:ODC) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Oil-Dri Corporation Of America (NYSE:ODC) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $57.36 and traded as high as $59.63. Oil-Dri Corporation Of America shares last traded at $58.37, with a volume of 62,504 shares trading hands.

Wall Street Analyst Weigh In

ODC has been the subject of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a research report on Monday, December 22nd. Wall Street Zen downgraded Oil-Dri Corporation Of America from a “strong-buy” rating to a “hold” rating in a research report on Saturday, December 13th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy”.

Oil-Dri Corporation Of America Price Performance

The company has a market capitalization of $851.03 million, a price-to-earnings ratio of 16.04 and a beta of 0.77. The company has a current ratio of 3.34, a quick ratio of 2.23 and a debt-to-equity ratio of 0.15. The company’s 50 day simple moving average is $52.43 and its 200-day simple moving average is $57.36.

Oil-Dri Corporation Of America (NYSE:ODC) last announced its quarterly earnings data on Monday, December 8th. The specialty chemicals company reported $1.06 earnings per share (EPS) for the quarter. Oil-Dri Corporation Of America had a net margin of 11.10% and a return on equity of 21.06%. The business had revenue of $120.49 million for the quarter. During the same period in the previous year, the company posted $2.25 EPS.

Oil-Dri Corporation Of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 1.4%. This is a positive change from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, February 20th. Oil-Dri Corporation Of America’s payout ratio is 19.78%.

Hedge Funds Weigh In On Oil-Dri Corporation Of America

Several institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its stake in shares of Oil-Dri Corporation Of America by 51.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 88,177 shares of the specialty chemicals company’s stock valued at $5,382,000 after acquiring an additional 30,025 shares during the last quarter. American Century Companies Inc. grew its holdings in Oil-Dri Corporation Of America by 10.5% in the second quarter. American Century Companies Inc. now owns 365,850 shares of the specialty chemicals company’s stock valued at $21,581,000 after purchasing an additional 34,767 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Oil-Dri Corporation Of America in the second quarter valued at approximately $625,000. CSM Advisors LLC acquired a new position in Oil-Dri Corporation Of America during the second quarter worth approximately $3,156,000. Finally, Sowell Financial Services LLC acquired a new position in Oil-Dri Corporation Of America during the third quarter worth approximately $657,000. 49.01% of the stock is currently owned by institutional investors and hedge funds.

Oil-Dri Corporation Of America Company Profile

Oil-Dri Corporation of America is a specialty materials company that develops, manufactures and markets sorbent and filtration products for industrial, environmental and consumer applications. Its flagship offerings include clay- and diatomaceous earth–based cat litters, calcium silicate absorbents for spill control and cleanup, and purification media designed to remove contaminants from petroleum, chemical and food-processing streams.

Founded in 1941 and headquartered in Chicago, Illinois, the company has evolved from a single-product operation into a diversified provider of mineral- and chemical-based solutions.