Oil-Dri Corporation Of America $ODC Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its holdings in Oil-Dri Corporation Of America (NYSE:ODC) by 17.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,264 shares of the specialty chemicals company’s stock after acquiring an additional 12,462 shares during the period. Allspring Global Investments Holdings LLC owned about 0.59% of Oil-Dri Corporation Of America worth $5,550,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings 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 worth $30,000 after purchasing an additional 183 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Oil-Dri Corporation Of America in the second quarter valued at $45,000. Fifth Third Bancorp purchased a new stake in Oil-Dri Corporation Of America in the first quarter valued at $54,000. Legal & General Group Plc grew its position in Oil-Dri Corporation Of America by 20.1% during the 2nd quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company’s stock worth $63,000 after purchasing an additional 178 shares during the period. Finally, State of Alaska Department of Revenue grew its position in Oil-Dri Corporation Of America by 361.7% during the 4th quarter. State of Alaska Department of Revenue now owns 1,879 shares of the specialty chemicals company’s stock worth $91,000 after purchasing an additional 1,472 shares during the period. Institutional investors and hedge funds own 49.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wall Street Zen upgraded Oil-Dri Corporation Of America from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 12th. Weiss Ratings upgraded Oil-Dri Corporation Of America from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Oil-Dri Corporation Of America Trading Up 1.5%

ODC stock opened at $96.21 on Friday. The company’s 50-day simple moving average is $91.49 and its 200-day simple moving average is $74.26. The company has a quick ratio of 2.40, a current ratio of 3.28 and a debt-to-equity ratio of 0.14. Oil-Dri Corporation Of America has a 52-week low of $45.61 and a 52-week high of $107.00. The firm has a market cap of $1.39 billion, a P/E ratio of 24.73 and a beta of 0.77.

Oil-Dri Corporation Of America (NYSE:ODC) last posted its earnings results on Monday, June 8th. The specialty chemicals company reported $1.00 EPS for the quarter. The firm had revenue of $126.33 million for the quarter. Oil-Dri Corporation Of America had a return on equity of 20.53% and a net margin of 11.35%.During the same quarter last year, the business earned $0.80 earnings per share.

Oil-Dri Corporation Of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, August 7th. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is presently 23.14%.

About Oil-Dri Corporation Of America

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.