Acadian Asset Management LLC Lowers Stake in Oil-Dri Corporation Of America (NYSE:ODC)

Acadian Asset Management LLC decreased its stake in Oil-Dri Corporation Of America (NYSE:ODC) by 13.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,847 shares of the specialty chemicals company’s stock after selling 13,927 shares during the period. Acadian Asset Management LLC owned approximately 1.20% of Oil-Dri Corporation Of America worth $3,690,000 at the end of the most recent reporting period.

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Separately, Russell Investments Group Ltd. increased 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 valued at $417,000 after buying an additional 1,377 shares during the last quarter. 53.64% of the stock is owned by institutional investors and hedge funds.

Oil-Dri Corporation Of America (NYSE:ODC) traded down 0.47% on Friday, reaching $40.36. 4,220 shares of the company’s stock traded hands. Oil-Dri Corporation Of America has a 12 month low of $31.35 and a 12 month high of $43.84. The firm’s 50 day moving average price is $41.51 and its 200 day moving average price is $37.71. The company has a market cap of $294.47 million, a PE ratio of 20.15 and a beta of 1.08.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, August 16th. This represents a $0.92 annualized dividend and a yield of 2.28%. This is a positive change from Oil-Dri Corporation Of America’s previous quarterly dividend of $0.22. Oil-Dri Corporation Of America’s dividend payout ratio (DPR) is currently 43.56%.

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Separately, BidaskClub downgraded shares of Oil-Dri Corporation Of America from a “hold” rating to a “sell” rating in a report on Thursday.

In other news, Director Allan H. Selig acquired 1,000 shares of the stock in a transaction on Friday, July 21st. The stock was acquired at an average price of $43.51 per share, with a total value of $43,510.00. Following the completion of the transaction, the director now owns 30,500 shares of the company’s stock, valued at approximately $1,327,055. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 13.86% of the company’s stock.

About Oil-Dri Corporation Of America

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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