Oil-Dri Co. of America (NYSE:ODC) Downgraded to Sell at ValuEngine

ValuEngine cut shares of Oil-Dri Co. of America (NYSE:ODC) from a hold rating to a sell rating in a report released on Thursday morning, ValuEngine reports.

Separately, TheStreet upgraded shares of South Jersey Industries from a c+ rating to a b- rating in a research report on Tuesday.

Shares of Oil-Dri Co. of America stock traded up $0.58 on Thursday, hitting $32.93. 1,029 shares of the company traded hands, compared to its average volume of 6,182. The company’s 50-day simple moving average is $30.88. The company has a current ratio of 2.76, a quick ratio of 1.91 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $246.35 million, a P/E ratio of 21.32 and a beta of 1.07. Oil-Dri Co. of America has a 12-month low of $24.25 and a 12-month high of $46.55.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 3.04%. This is a boost from Oil-Dri Co. of America’s previous quarterly dividend of $0.24.

In other Oil-Dri Co. of America news, Director Paul Hindsley bought 2,788 shares of Oil-Dri Co. of America stock in a transaction that occurred on Monday, June 24th. The shares were bought at an average price of $30.29 per share, with a total value of $84,448.52. Following the acquisition, the director now owns 2,126 shares in the company, valued at $64,396.54. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.04% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in shares of Oil-Dri Co. of America by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 418,575 shares of the specialty chemicals company’s stock valued at $11,093,000 after purchasing an additional 8,711 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Oil-Dri Co. of America by 2.6% during the 4th quarter. BlackRock Inc. now owns 264,223 shares of the specialty chemicals company’s stock valued at $7,002,000 after purchasing an additional 6,755 shares during the last quarter. North Star Investment Management Corp. grew its holdings in shares of Oil-Dri Co. of America by 7.0% during the 1st quarter. North Star Investment Management Corp. now owns 66,150 shares of the specialty chemicals company’s stock valued at $2,060,000 after purchasing an additional 4,325 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Oil-Dri Co. of America by 6.7% during the 4th quarter. Bank of New York Mellon Corp now owns 58,723 shares of the specialty chemicals company’s stock valued at $1,556,000 after purchasing an additional 3,690 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Oil-Dri Co. of America by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 42,678 shares of the specialty chemicals company’s stock valued at $1,130,000 after purchasing an additional 2,164 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors.

About Oil-Dri Co. of America

Oil-Dri Corporation of America develops, manufactures, and markets sorbent products in the United States and internationally. It operates through 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, which serve as chemical carriers, drying agents, and growing media under the Agsorb, Verge, Flo-Fre, and Terra-Green brand names.

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