LS Investment Advisors LLC boosted its stake in shares of Donaldson Company, Inc. (NYSE:DCI) by 18.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,728 shares of the industrial products company’s stock after buying an additional 1,703 shares during the period. LS Investment Advisors LLC’s holdings in Donaldson were worth $489,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Donaldson by 5,553.3% in the first quarter. BlackRock Inc. now owns 10,390,356 shares of the industrial products company’s stock valued at $472,970,000 after buying an additional 10,206,564 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Donaldson by 8.3% in the first quarter. Vanguard Group Inc. now owns 12,152,840 shares of the industrial products company’s stock valued at $553,197,000 after buying an additional 930,432 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Donaldson by 25.9% in the first quarter. Bank of New York Mellon Corp now owns 2,411,896 shares of the industrial products company’s stock valued at $109,787,000 after buying an additional 496,064 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Donaldson by 149.5% in the first quarter. Prudential Financial Inc. now owns 506,451 shares of the industrial products company’s stock valued at $23,054,000 after buying an additional 303,430 shares in the last quarter. Finally, BTIM Corp. boosted its stake in shares of Donaldson by 29.3% in the first quarter. BTIM Corp. now owns 1,025,833 shares of the industrial products company’s stock valued at $46,696,000 after buying an additional 232,193 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.
Shares of Donaldson Company, Inc. (NYSE:DCI) opened at 47.07 on Thursday. The company has a 50-day moving average of $46.65 and a 200-day moving average of $45.48. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 28.02 and a beta of 1.22. Donaldson Company, Inc. has a 1-year low of $35.59 and a 1-year high of $48.91.
Donaldson (NYSE:DCI) last released its earnings results on Thursday, June 1st. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. The business had revenue of $608.20 million for the quarter, compared to analyst estimates of $580.44 million. Donaldson had a return on equity of 28.12% and a net margin of 9.72%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. On average, equities research analysts expect that Donaldson Company, Inc. will post ($0.38) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.53%. This is an increase from Donaldson’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, August 11th. Donaldson’s payout ratio is presently 43.11%.
Several brokerages recently weighed in on DCI. Zacks Investment Research cut shares of Donaldson from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub raised shares of Donaldson from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Donaldson in a research note on Thursday, June 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $48.00 price objective (up from $45.00) on shares of Donaldson in a research note on Friday, June 2nd. Finally, Jefferies Group LLC raised shares of Donaldson from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Wednesday, May 31st. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Donaldson has an average rating of “Hold” and an average price target of $48.25.
In other news, Director John Wiehoff sold 14,400 shares of the company’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $46.33, for a total value of $667,152.00. Following the sale, the director now directly owns 59,001 shares in the company, valued at $2,733,516.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is 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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