Oil-Dri Corporation of America said on March 22, 2023 that its board of directors declared a regular
quarterly dividend of $0.28 per share ($1.12 annualized).
Previously, the company paid $0.28 per share.
Shares must be purchased before the ex-div date of May 11, 2023 to qualify for the dividend.
Shareholders of record as of May 12, 2023
will receive the payment on May 26, 2023.
At the current share price of $37.25 / share,
the stock’s dividend yield is 3.01%.
Looking back five years and taking a sample every week, the average dividend yield has been
3.11%,
the lowest has been 2.13%,
and the highest has been 4.93%.
The standard deviation of yields is 0.50 (n=236).
The current dividend yield is
0.20 standard deviations
below
the historical average.
Additionally, the company’s dividend payout ratio is 0.66.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.12%,
demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 122 funds or institutions reporting positions in Oil-Dri Corporation of America.
This is a decrease
of
21
owner(s) or 14.69% in the last quarter.
Average portfolio weight of all funds dedicated to ODC is 0.15%,
an increase
of 51.14%.
Total shares owned by institutions increased
in the last three months by 0.52% to 4,537K shares.
What are Large Shareholders Doing?
Gamco Investors, Inc. Et Al
holds 483K shares
representing 6.75% ownership of the company.
In it’s prior filing, the firm reported owning 482K shares, representing
an increase
of 0.28%.
The firm
increased
its portfolio allocation in ODC by 26.95% over the last quarter.
EQ ADVISORS TRUST – 1290 VT GAMCO Small Company Value Portfolio Class IA
holds 436K shares
representing 6.09% ownership of the company.
In it’s prior filing, the firm reported owning 435K shares, representing
an increase
of 0.43%.
The firm
increased
its portfolio allocation in ODC by 24.70% over the last quarter.
Renaissance Technologies
holds 256K shares
representing 3.58% ownership of the company.
In it’s prior filing, the firm reported owning 277K shares, representing
a decrease
of 8.19%.
The firm
increased
its portfolio allocation in ODC by 23.89% over the last quarter.
Heartland Advisors
holds 215K shares
representing 2.99% ownership of the company.
In it’s prior filing, the firm reported owning 216K shares, representing
a decrease
of 0.47%.
The firm
increased
its portfolio allocation in ODC by 16.91% over the last quarter.
HRVIX – HEARTLAND VALUE PLUS FUND Investor Class
holds 210K shares
representing 2.93% ownership of the company.
No change in the last quarter.
Oil-Dri Of America Background Information
(This description is provided by the company.)
Oil-Dri is a leading manufacturer and supplier of high-quality sorbent mineral products for the Pet Care, Animal Health & Nutrition, Fluids Purification, Agricultural Ingredients, Industrial & Automotive, and Sports Fields markets. Oil-Dri is vertically integrated which enables the company to efficiently oversee every step of the process from research and development to supply chain to marketing and sales. With over 75 years of experience, the company continues to fulfill its mission to Create Value from Sorbent Minerals.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
