SFE Investment Counsel Reduces Position in Donaldson Company, Inc. (DCI)
SFE Investment Counsel lowered its position in shares of Donaldson Company, Inc. (NYSE:DCI) by 23.3% during the second quarter, Holdings Channel reports. The firm owned 92,935 shares of the industrial products company’s stock after selling 28,298 shares during the period. Donaldson comprises 1.7% of SFE Investment Counsel’s investment portfolio, making the stock its 22nd largest position. SFE Investment Counsel’s holdings in Donaldson were worth $4,232,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Clean Yield Group acquired a new position in Donaldson during the first quarter worth approximately $109,000. TrimTabs Asset Management LLC acquired a new position in Donaldson during the first quarter worth approximately $125,000. Schroder Investment Management Group acquired a new position in Donaldson during the first quarter worth approximately $154,000. Mosaic Family Wealth LLC increased its position in Donaldson by 3.0% in the first quarter. Mosaic Family Wealth LLC now owns 4,215 shares of the industrial products company’s stock worth $192,000 after buying an additional 123 shares during the period. Finally, Tyers Asset Management LLC increased its position in Donaldson by 16.5% in the first quarter. Tyers Asset Management LLC now owns 4,416 shares of the industrial products company’s stock worth $201,000 after buying an additional 624 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.
Donaldson Company, Inc. (DCI) opened at 47.25 on Tuesday. The stock has a 50 day moving average of $46.54 and a 200-day moving average of $45.44. Donaldson Company, Inc. has a 12 month low of $35.59 and a 12 month high of $48.91. The stock has a market cap of $6.19 billion, a P/E ratio of 28.12 and a beta of 1.22.
Donaldson (NYSE:DCI) last issued its quarterly earnings results on Thursday, June 1st. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The business had revenue of $608.20 million for the quarter, compared to analysts’ expectations of $580.44 million. Donaldson had a net margin of 9.72% and a return on equity of 28.12%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 earnings per share. On average, equities analysts forecast that Donaldson Company, Inc. will post ($0.38) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Friday, August 11th. This is a boost from Donaldson’s previous quarterly dividend of $0.18. Donaldson’s dividend payout ratio is currently 41.92%.
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DCI has been the topic of a number of research reports. Zacks Investment Research raised shares of Donaldson from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, May 31st. Jefferies Group LLC raised shares of Donaldson from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Wednesday, May 31st. BidaskClub raised shares of Donaldson from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Stifel Nicolaus reissued a “hold” rating and set a $48.00 target price (up previously from $45.00) on shares of Donaldson in a research report on Friday, June 2nd. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Donaldson in a research report on Thursday, June 1st. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $48.25.
In other news, Director John Wiehoff sold 14,400 shares of the stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $46.33, for a total transaction of $667,152.00. Following the sale, the director now owns 59,001 shares of the company’s stock, valued at $2,733,516.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is currently owned by corporate insiders.
Donaldson Company Profile
Donaldson Company, Inc is a manufacturer of filtration systems and replacement parts. The Company’s segments include Engine Products, Industrial Products and Corporate. The Company’s products are manufactured at approximately 44 plants around the world and through three joint ventures. The Company offers its products under the Ultra-Web, PowerCore and Donaldson brands.
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