Short Interest in Oil-Dri Co. of America (NYSE:ODC) Decreases By 6.4%

Oil-Dri Co. of America (NYSE:ODC) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 36,700 shares, a drop of 6.4% from the August 30th total of 39,200 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average trading volume of 6,300 shares, the short-interest ratio is presently 5.8 days.

Several analysts have recently issued reports on ODC shares. ValuEngine cut Oil-Dri Co. of America from a “hold” rating to a “sell” rating in a research note on Wednesday. TheStreet upgraded Oil-Dri Co. of America from a “c+” rating to a “b-” rating in a research note on Tuesday, July 9th.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in Oil-Dri Co. of America by 4.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 713,477 shares of the specialty chemicals company’s stock valued at $24,287,000 after buying an additional 30,668 shares in the last quarter. Renaissance Technologies LLC raised its stake in Oil-Dri Co. of America by 0.5% in the second quarter. Renaissance Technologies LLC now owns 388,204 shares of the specialty chemicals company’s stock valued at $13,214,000 after buying an additional 2,100 shares in the last quarter. BlackRock Inc. raised its stake in Oil-Dri Co. of America by 5.4% in the second quarter. BlackRock Inc. now owns 268,137 shares of the specialty chemicals company’s stock valued at $9,128,000 after buying an additional 13,727 shares in the last quarter. Vanguard Group Inc. raised its stake in Oil-Dri Co. of America by 1.0% in the second quarter. Vanguard Group Inc. now owns 256,189 shares of the specialty chemicals company’s stock valued at $8,721,000 after buying an additional 2,430 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Oil-Dri Co. of America by 2.5% in the second quarter. Northern Trust Corp now owns 73,655 shares of the specialty chemicals company’s stock valued at $2,507,000 after buying an additional 1,769 shares in the last quarter. Institutional investors and hedge funds own 51.06% of the company’s stock.

Shares of NYSE ODC traded up $0.13 during mid-day trading on Thursday, hitting $33.63. The company had a trading volume of 593 shares, compared to its average volume of 7,759. The company has a market capitalization of $251.14 million, a PE ratio of 19.90 and a beta of 1.08. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.74 and a quick ratio of 2.00. Oil-Dri Co. of America has a 1-year low of $24.25 and a 1-year high of $36.80. The business’s 50-day simple moving average is $32.70 and its 200 day simple moving average is $32.24.

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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