Oil-Dri Corporation Of America (NYSE:ODC) Downgraded by BidaskClub to Hold

Oil-Dri Corporation Of America (NYSE:ODC) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Monday, July 24th.

Oil-Dri Corporation Of America (NYSE ODC) traded up 0.50% during mid-day trading on Monday, reaching $38.47. The company’s stock had a trading volume of 6,332 shares. The company has a market capitalization of $280.68 million, a PE ratio of 19.21 and a beta of 1.08. Oil-Dri Corporation Of America has a 1-year low of $31.35 and a 1-year high of $43.84. The firm has a 50 day moving average price of $41.28 and a 200-day moving average price of $38.17.

Oil-Dri Corporation Of America (NYSE:ODC) last announced its earnings results on Wednesday, June 7th. The specialty chemicals company reported $0.44 EPS for the quarter. The business had revenue of $64.75 million for the quarter. Oil-Dri Corporation Of America had a return on equity of 12.39% and a net margin of 5.63%.

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In other news, Director Allan H. Selig acquired 1,000 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was acquired at an average price of $43.51 per share, for a total transaction of $43,510.00. Following the transaction, the director now directly owns 30,500 shares in the company, valued at $1,327,055. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.86% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted its position in Oil-Dri Corporation Of America by 728.1% in the second quarter. Acrospire Investment Management LLC now owns 2,890 shares of the specialty chemicals company’s stock worth $121,000 after buying an additional 2,541 shares during the period. Algert Global LLC purchased a new position in Oil-Dri Corporation Of America during the second quarter worth about $217,000. New York State Common Retirement Fund boosted its position in Oil-Dri Corporation Of America by 12.7% in the second quarter. New York State Common Retirement Fund now owns 5,300 shares of the specialty chemicals company’s stock worth $223,000 after buying an additional 599 shares during the period. Nationwide Fund Advisors boosted its position in Oil-Dri Corporation Of America by 146.1% in the second quarter. Nationwide Fund Advisors now owns 7,889 shares of the specialty chemicals company’s stock worth $331,000 after buying an additional 4,684 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Oil-Dri Corporation Of America by 16.1% in the second quarter. Russell Investments Group Ltd. now owns 9,911 shares of the specialty chemicals company’s stock worth $417,000 after buying an additional 1,377 shares during the period. Hedge funds and other institutional investors own 54.13% of the company’s stock.

Oil-Dri Corporation Of America Company Profile

Oil-Dri Corporation of America is engaged in developing, manufacturing and/or marketing sorbent products. The Company operates through two segments: Retail and Wholesale Products Group, and Business to Business Products Group. The Retail and Wholesale Products Group’s customers include mass merchandisers, wholesale clubs, drugstore chains, dollar stores, distributors of industrial cleanup and automotive products, environmental service companies and sports field product users.

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