Oil-Dri: Capital Discipline Intact, Thesis Remains Compelling

Oil-Dri Corporation of America (ODC) remains a strong buy, supported by disciplined capital allocation and vertically integrated, geologically rare clay reserves. Recent margin compression is cyclical, not structural, with record-setting financials and robust cash flow enabling ongoing dividends and buybacks. ODC's valuation shows significant upside potential, with a blended target price of $137.86 implying 91% appreciation from current levels.