Oil-Dri Corporation Of America (NYSE:ODC) Shares Gap Down on Insider Selling

Oil-Dri Corporation Of America (NYSE:ODC) shares gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $65.43, but opened at $63.32. Oil-Dri Corporation Of America shares last traded at $63.78, with a volume of 5,769 shares traded.

Specifically, Director Paul Hindsley sold 6,000 shares of Oil-Dri Corporation Of America stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $63.90, for a total transaction of $383,400.00. Following the completion of the sale, the director owned 11,000 shares of the company’s stock, valued at $702,900. The trade was a 35.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Oil-Dri Corporation Of America in a report on Monday, December 22nd. 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 investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy”.

Oil-Dri Corporation Of America Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.40 and a current ratio of 3.45. The firm has a market capitalization of $911.03 million, a PE ratio of 16.93 and a beta of 0.77. The firm’s 50 day moving average price is $61.06 and its 200-day moving average price is $58.60.

Oil-Dri Corporation Of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 8th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, May 8th. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is presently 22.22%.

Institutional Trading of Oil-Dri Corporation Of America

Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its stake in shares of Oil-Dri Corporation Of America by 57.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 502 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 183 shares during the period. Raymond James Financial Inc. acquired a new stake in Oil-Dri Corporation Of America in the 2nd quarter valued at $45,000. Ameritas Investment Partners Inc. increased its holdings in Oil-Dri Corporation Of America by 25.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,013 shares of the specialty chemicals company’s stock worth $60,000 after acquiring an additional 203 shares in the last quarter. Legal & General Group Plc increased its holdings in Oil-Dri Corporation Of America by 20.1% in the 2nd quarter. Legal & General Group Plc now owns 1,062 shares of the specialty chemicals company’s stock worth $63,000 after acquiring an additional 178 shares in the last quarter. Finally, Copeland Capital Management LLC acquired a new position in Oil-Dri Corporation Of America during the third quarter worth $67,000. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

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.