JPMorgan Chase & Co. Purchases 29,583 Shares of Oil-Dri Corporation Of America $ODC

JPMorgan Chase & Co. grew its holdings in shares of Oil-Dri Corporation Of America (NYSE:ODC) by 206.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,921 shares of the specialty chemicals company’s stock after buying an additional 29,583 shares during the period. JPMorgan Chase & Co. owned 0.30% of Oil-Dri Corporation Of America worth $2,681,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ODC. Russell Investments Group Ltd. increased its stake in shares of Oil-Dri Corporation Of America by 57.4% during the second quarter. Russell Investments Group Ltd. now owns 502 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 183 shares in the last quarter. Raymond James Financial Inc. bought a new position in Oil-Dri Corporation Of America during the 2nd quarter valued at approximately $45,000. Legal & General Group Plc raised its stake in Oil-Dri Corporation Of America by 20.1% during the second quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company’s stock valued at $63,000 after buying an additional 178 shares during the last quarter. Copeland Capital Management LLC purchased a new position in Oil-Dri Corporation Of America during the third quarter valued at $67,000. Finally, CANADA LIFE ASSURANCE Co bought a new stake in Oil-Dri Corporation Of America in the third quarter worth $96,000. Hedge funds and other institutional investors own 49.01% of the company’s stock.

Oil-Dri Corporation Of America Price Performance

Shares of NYSE ODC opened at $67.74 on Monday. Oil-Dri Corporation Of America has a twelve month low of $41.37 and a twelve month high of $70.01. The firm has a market cap of $980.89 million, a P/E ratio of 18.36 and a beta of 0.79. The company has a 50 day moving average of $63.70 and a 200 day moving average of $58.51. The company has a quick ratio of 2.40, a current ratio of 3.45 and a debt-to-equity ratio of 0.14.

Oil-Dri Corporation Of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, May 8th. Oil-Dri Corporation Of America’s dividend payout ratio is presently 22.22%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ODC. Weiss Ratings restated a “buy (b-)” rating on shares of Oil-Dri Corporation Of America in a report on Friday, March 27th. Wall Street Zen cut shares of Oil-Dri Corporation Of America from a “strong-buy” rating to a “hold” rating in a research note on Saturday, December 13th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Oil-Dri Corporation Of America has an average rating of “Buy”.

Insider Activity at Oil-Dri Corporation Of America

In related news, Director Paul Hindsley sold 6,000 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $63.90, for a total transaction of $383,400.00. Following the sale, the director directly owned 11,000 shares of the company’s stock, valued at $702,900. This trade represents a 35.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 11.69% of the stock is owned by company insiders.

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.