Hook Your Wallet on This Unexpected Stock! 💰
Disregard the stock dividend advice: don't heed this particular tip, but do not disregard the stock itself.
You might think cat litter ain't gonna make you a fortune, but check out this stock that's shocking the dividend world!
Meet the Oil-Dri Corporation of America, a company that offers sorption products for pet care, animal health, agri-ingredients, and sports surfaces. While their product line might not seem promising, their stock has skyrocketed an astounding 218% in the past two years! And guess what? Cat litter plays a significant role in their success story.
Oil-Dri's Lightning Fast Expansion 🏎️
Oil-Dri holds patents for light, scoopable liter sold under the brands Cat's Pride or Katkit. But, with their recent acquisition of Ultra Pet this year, they're diving headfirst into the exploding crystal cat litter market.
The crystal litter market has nearly quintupled since 2018, and Oil-Dri's profitability has shined bright thanks to their diverse portfolio of products. In fact, they've managed a 10% increase in sales each year over the past five years! And don't forget about the dividend!
Is the Dividend at Oil-Dri the Ace Up Its Sleeve? 🃏
The current dividend yield of 1.4% might not set your heart racing, but only 18% of net income is currently used for financing. Oil-Dri could triple its payments and still only tap about half of its profits.
Additionally, recent signs suggest a change in the payout strategy, as the last increase was a substantial seven percent. Keep this hidden gem on your radar, especially if potential increases in dividends maintain profitability sustainably.
Stats You Need to Know:
- The Global Cat Litter Market: Projected to grow from about $6.2 billion in 2025 to $12.08 billion by 2035, with a Compound Annual Growth Rate (CAGR) of around 7%.
- Crystal Cat Litter: A high-performance segment, thanks to its superior odor control, moisture absorption, and convenience features. The Asian market, particularly China, shows strong potential due to rising disposable incomes, pet humanization, and demand for premium and imported products.
- Regions like North America and Europe: Exhibit interest in sustainable and innovative litter products, including crystal formulations, driven by environmental concerns and premiumization trends.
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- Despite its unexpected industry, Oil-Dri Corporation of America's stock has seen significant growth, increasing an astounding 218% in the past two years, making it an intriguing opportunity for investing in the finance sector, specifically the stock-market.
- The diversified product portfolio of Oil-Dri, including their patented light, scoopable cat litter under brands like Cat's Pride or Katkit, has contributed to their consistent growth and profitability, with sales increasing by 10% each year over the past five years, suggesting continued potential for investing in the company.
