StockNews.com Upgrades Oil-Dri Co. of America (NYSE:ODC) to “Buy”

Oil-Dri Co. of America (NYSE:ODC) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

Oil-Dri Co. of America Price Performance

Shares of ODC opened at $41.66 on Monday. The stock has a 50 day simple moving average of $23.93 and a 200 day simple moving average of $19.06. Oil-Dri Co. of America has a 52-week low of $29.47 and a 52-week high of $46.50. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 2.63. The firm has a market capitalization of $608.03 million, a PE ratio of 6.73 and a beta of 0.53.

Oil-Dri Co. of America (NYSE:ODC) last released its quarterly earnings results on Monday, December 9th. The specialty chemicals company reported $0.56 earnings per share for the quarter. Oil-Dri Co. of America had a net margin of 9.92% and a return on equity of 21.84%.

Insider Activity at Oil-Dri Co. of America

In other Oil-Dri Co. of America news, VP Laura G. Scheland sold 10,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $17.32, for a total transaction of $173,175.00. Following the sale, the vice president now directly owns 61,360 shares of the company’s stock, valued at $1,062,601.80. The trade was a 14.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 11.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Oil-Dri Co. of America

Several hedge funds have recently modified their holdings of ODC. FMR LLC boosted its position in Oil-Dri Co. of America by 81.6% during the third quarter. FMR LLC now owns 445 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Oil-Dri Co. of America by 12.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,401 shares of the specialty chemicals company’s stock valued at $166,000 after buying an additional 268 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Oil-Dri Co. of America by 5.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,500 shares of the specialty chemicals company’s stock valued at $379,000 after buying an additional 271 shares in the last quarter. Foundry Partners LLC grew its stake in shares of Oil-Dri Co. of America by 1.0% in the third quarter. Foundry Partners LLC now owns 37,041 shares of the specialty chemicals company’s stock valued at $2,555,000 after buying an additional 350 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Oil-Dri Co. of America by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,009 shares of the specialty chemicals company’s stock worth $966,000 after buying an additional 469 shares during the last quarter. Institutional investors own 49.01% of the company’s stock.

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.