Oil-Dri Co. of America (NYSE:ODC) Sees Large Increase in Short Interest

Oil-Dri Co. of America (NYSE:ODC) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 44,700 shares, a growth of 9.3% from the June 30th total of 40,900 shares. Based on an average daily trading volume, of 14,700 shares, the days-to-cover ratio is presently 3.0 days. Approximately 0.9% of the company’s shares are sold short.

Shares of NYSE ODC traded down $2.11 during trading hours on Tuesday, reaching $35.21. The stock had a trading volume of 202 shares, compared to its average volume of 13,485. The firm has a market cap of $260.18 million, a price-to-earnings ratio of 16.96 and a beta of 0.83. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.06. Oil-Dri Co. of America has a fifty-two week low of $27.51 and a fifty-two week high of $38.80. The firm has a 50-day moving average of $34.69 and a 200-day moving average of $34.52.

Oil-Dri Co. of America (NYSE:ODC) last issued its earnings results on Monday, June 8th. The specialty chemicals company reported $0.61 earnings per share (EPS) for the quarter. The business had revenue of $76.26 million during the quarter. Oil-Dri Co. of America had a return on equity of 11.86% and a net margin of 5.83%.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a $0.26 dividend. This is a positive change from Oil-Dri Co. of America’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Thursday, August 13th.

Separately, ValuEngine raised Oil-Dri Co. of America from a “sell” rating to a “hold” rating in a research note on Friday, May 15th.

A number of large investors have recently added to or reduced their stakes in ODC. BlackRock Inc. raised its position in Oil-Dri Co. of America by 3.5% in the first quarter. BlackRock Inc. now owns 297,125 shares of the specialty chemicals company’s stock valued at $9,937,000 after purchasing an additional 10,095 shares during the period. Nuveen Asset Management LLC grew its stake in Oil-Dri Co. of America by 81.8% in the first quarter. Nuveen Asset Management LLC now owns 20,823 shares of the specialty chemicals company’s stock worth $696,000 after purchasing an additional 9,370 shares in the last quarter. Seizert Capital Partners LLC acquired a new position in Oil-Dri Co. of America in the first quarter worth about $253,000. First Quadrant L P CA acquired a new position in Oil-Dri Co. of America in the second quarter worth about $261,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Oil-Dri Co. of America in the fourth quarter valued at approximately $207,000. 50.45% of the stock is currently owned by institutional investors.

Oil-Dri Co. of America Company Profile

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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