Donaldson Company, Inc. (NYSE:DCI) Raises Dividend to $0.25 Per Share

Donaldson Company, Inc. (NYSE:DCI – Get Rating) announced a quarterly dividend on Thursday, May 25th, Wall Street Journal reports. Investors of record on Wednesday, June 7th will be given a dividend of 0.25 per share by the industrial products company on Friday, June 23rd. This represents a $1.00 annualized dividend and a yield of 1.58%. The ex-dividend date is Tuesday, June 6th. This is a boost from Donaldson’s previous quarterly dividend of $0.23.

Donaldson has raised its dividend payment by an average of 3.5% annually over the last three years and has raised its dividend annually for the last 37 consecutive years. Donaldson has a dividend payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Donaldson to earn $3.15 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 31.7%.

Donaldson Stock Performance

NYSE:DCI opened at $63.37 on Friday. The stock has a market cap of $7.69 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 1.96 and a beta of 1.20. The firm’s fifty day simple moving average is $63.50 and its 200 day simple moving average is $62.11. Donaldson has a twelve month low of $46.00 and a twelve month high of $66.96. The company has a quick ratio of 1.46, a current ratio of 2.33 and a debt-to-equity ratio of 0.52.

Donaldson (NYSE:DCI – Get Rating) last released its quarterly earnings results on Wednesday, March 8th. The industrial products company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.06. The business had revenue of $828.30 million for the quarter, compared to analysts’ expectations of $838.29 million. Donaldson had a net margin of 10.45% and a return on equity of 32.35%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share. As a group, research analysts predict that Donaldson will post 3.05 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DCI shares. Morgan Stanley lifted their price target on shares of Donaldson from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, April 20th. Robert W. Baird boosted their target price on shares of Donaldson from $66.00 to $69.00 in a report on Friday, March 3rd. Finally, StockNews.com began coverage on shares of Donaldson in a report on Thursday, May 18th. They set a “strong-buy” rating on the stock.

Insider Buying and Selling

In related news, Director James Owens sold 10,800 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $66.08, for a total value of $713,664.00. Following the transaction, the director now owns 14,378 shares in the company, valued at approximately $950,098.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Donaldson news, Director Christopher M. Hilger bought 3,186 shares of the firm’s stock in a transaction on Tuesday, April 11th. The stock was acquired at an average price of $62.76 per share, with a total value of $199,953.36. Following the transaction, the director now owns 7,872 shares in the company, valued at $494,046.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Owens sold 10,800 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $66.08, for a total value of $713,664.00. Following the completion of the transaction, the director now directly owns 14,378 shares of the company’s stock, valued at approximately $950,098.24. The disclosure for this sale can be found here. 2.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Donaldson

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fred Alger Management LLC purchased a new stake in shares of Donaldson during the 3rd quarter valued at about $35,000. Quantbot Technologies LP increased its position in shares of Donaldson by 103.7% during the 1st quarter. Quantbot Technologies LP now owns 2,426 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 1,235 shares during the last quarter. Covestor Ltd increased its position in shares of Donaldson by 128.4% during the 1st quarter. Covestor Ltd now owns 2,417 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 1,359 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Donaldson by 7.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,803 shares of the industrial products company’s stock valued at $135,000 after purchasing an additional 185 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in Donaldson by 57.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,171 shares of the industrial products company’s stock worth $187,000 after acquiring an additional 1,153 shares in the last quarter. Hedge funds and other institutional investors own 80.10% of the company’s stock.

Donaldson Company Profile

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Donaldson Co, Inc engages in the manufacture of filtration systems and replacement parts. It operates through the following segments: Engine Products and Industrial Products. The Engine Products segment includes replacement filters for both air and liquid filtration applications, air filtration systems, liquid filtration systems for fuel, lube and hydraulic applications, and exhaust and emissions systems.