Donaldson Company, Inc. (DCI) To Go Ex-Dividend on June 6th

Donaldson Company, Inc. (NYSE:DCI – Get Rating) declared a quarterly dividend on Wednesday, May 24th, Wall Street Journal reports. Stockholders 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 dividend yield of 1.58%. The ex-dividend date is Tuesday, June 6th. This is an increase from Donaldson’s previous quarterly dividend of $0.23.

Donaldson has increased its dividend by an average of 3.5% annually over the last three years and has increased its dividend every year for the last 37 years. Donaldson has a dividend payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

DCI opened at $63.37 on Friday. The company’s 50-day simple moving average is $63.50 and its two-hundred day simple moving average is $62.11. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.46 and a current ratio of 2.33. The stock has a market capitalization of $7.69 billion, a P/E ratio of 22.00, a P/E/G ratio of 1.96 and a beta of 1.20. Donaldson has a 52-week low of $46.00 and a 52-week high of $66.96.

Donaldson (NYSE:DCI – Get Rating) last issued its quarterly earnings data on Wednesday, March 8th. The industrial products company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The company had revenue of $828.30 million for the quarter, compared to the consensus estimate 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 prior year, the firm earned $0.57 earnings per share. As a group, analysts predict that Donaldson will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on DCI shares. Morgan Stanley upped their target price on shares of Donaldson from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, April 20th. StockNews.com started coverage on shares of Donaldson in a report on Thursday, May 18th. They set a “strong-buy” rating for the company. Finally, Robert W. Baird upped their target price on shares of Donaldson from $66.00 to $69.00 in a report on Friday, March 3rd.

Insider Transactions at Donaldson

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

Hedge Funds Weigh In On Donaldson

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fred Alger Management LLC bought a new position in shares of Donaldson during the third quarter worth $35,000. Quantbot Technologies LP lifted its position in Donaldson by 103.7% during the first 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 lifted its position in Donaldson by 128.4% during the first 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 lifted its position in Donaldson by 7.1% during the second 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 lifted its position in Donaldson by 57.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,171 shares of the industrial products company’s stock valued at $187,000 after purchasing an additional 1,153 shares during the last quarter. 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.