Oil-Dri Co. of America (NYSE:ODC) Trading 6.3% Higher Following Dividend Announcement

Oil-Dri Co. of America (NYSE:ODC) was up 6.3% during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $85.65 and last traded at $85.65. Approximately 26,045 shares changed hands during trading, an increase of 36% from the average daily volume of 19,158 shares. The stock had previously closed at $80.60.

The newly announced dividend which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, February 21st. Oil-Dri Co. of America’s dividend payout ratio is currently 20.03%.

Oil-Dri Co. of America Stock Performance

The stock has a fifty day moving average of $70.00 and a 200-day moving average of $68.12. The stock has a market cap of $636.71 million, a PE ratio of 14.08 and a beta of 0.58. The company has a quick ratio of 1.39, 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 Thursday, October 10th. The specialty chemicals company reported $1.17 earnings per share for the quarter. Oil-Dri Co. of America had a return on equity of 21.84% and a net margin of 9.92%. The company had revenue of $113.70 million for the quarter.

Insider Buying and Selling at Oil-Dri Co. of America

In other news, VP Laura G. Scheland sold 2,500 shares of Oil-Dri Co. of America stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $69.27, for a total transaction of $173,175.00. Following the completion of the sale, the vice president now directly owns 15,340 shares in the company, valued at approximately $1,062,601.80. This trade represents a 14.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oil-Dri Co. of America

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its position in shares of Oil-Dri Co. of America by 81.6% during the 3rd quarter. FMR LLC now owns 445 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Oil-Dri Co. of America during the 3rd quarter worth approximately $216,000. Janus Henderson Group PLC raised its position in shares of Oil-Dri Co. of America by 30.2% during the 3rd quarter. Janus Henderson Group PLC now owns 4,253 shares of the specialty chemicals company’s stock worth $293,000 after purchasing an additional 986 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Oil-Dri Co. of America by 40.8% in the 2nd quarter. Squarepoint Ops LLC now owns 4,772 shares of the specialty chemicals company’s stock valued at $306,000 after acquiring an additional 1,383 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Oil-Dri Co. of America by 5.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,500 shares of the specialty chemicals company’s stock valued at $379,000 after acquiring an additional 271 shares during the last quarter. 49.01% of the stock is currently owned by institutional investors and hedge funds.

About Oil-Dri Co. of America

Oil-Dri Corporation of America, together with its subsidiaries, develops, manufactures, and markets sorbent products in the United States and internationally. It operates in two segments, Retail and Wholesale Products Group, and Business to Business Products Group. The company provides agricultural and horticultural products, including mineral-based absorbent products that serve as carriers for biological and chemical active ingredients, drying agents, and growing media under the Agsorb, Verge, and Flo-Fre brand names.