Connor Clark & Lunn Investment Management Ltd. Increases Stock Holdings in Donaldson Company, Inc. (NYSE:DCI)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Donaldson Company, Inc. (NYSE:DCI) by 305.5% during the third quarter, Holdings Channel.com reports. The fund owned 21,552 shares of the industrial products company’s stock after purchasing an additional 16,237 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Donaldson were worth $1,588,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado acquired a new position in Donaldson in the first quarter valued at approximately $660,000. New York State Teachers Retirement System grew its position in shares of Donaldson by 2.6% during the second quarter. New York State Teachers Retirement System now owns 147,777 shares of the industrial products company’s stock worth $10,575,000 after acquiring an additional 3,792 shares during the last quarter. Arizona State Retirement System increased its position in Donaldson by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 33,697 shares of the industrial products company’s stock valued at $2,411,000 after acquiring an additional 681 shares during the period. Savant Capital LLC raised its stake in shares of Donaldson by 46.2% during the second quarter. Savant Capital LLC now owns 13,674 shares of the industrial products company’s stock worth $979,000 after purchasing an additional 4,320 shares during the last quarter. Finally, Algert Global LLC raised its position in Donaldson by 1,554.0% during the 2nd quarter. Algert Global LLC now owns 146,346 shares of the industrial products company’s stock worth $10,473,000 after buying an additional 137,498 shares during the last quarter. Hedge funds and other institutional investors own 82.81% of the company’s stock.

Donaldson Price Performance

Shares of DCI opened at $78.06 on Wednesday. Donaldson Company, Inc. has a one year low of $58.75 and a one year high of $78.95. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.23 and a current ratio of 1.84. The firm has a market capitalization of $9.35 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 2.03 and a beta of 1.04. The stock’s fifty day moving average is $74.57 and its 200-day moving average is $73.33.

Donaldson (NYSE:DCI) last posted its quarterly earnings data on Wednesday, August 28th. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. Donaldson had a net margin of 11.54% and a return on equity of 29.47%. The company had revenue of $935.40 million during the quarter, compared to analyst estimates of $941.12 million. Equities analysts anticipate that Donaldson Company, Inc. will post 3.63 EPS for the current year.

Donaldson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be issued a $0.27 dividend. The ex-dividend date is Monday, December 9th. This represents a $1.08 annualized dividend and a yield of 1.38%. Donaldson’s dividend payout ratio (DPR) is currently 31.95%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Donaldson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 28th. Stifel Nicolaus dropped their price target on Donaldson from $76.00 to $71.00 and set a “hold” rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Donaldson currently has an average rating of “Hold” and an average price target of $69.67.

Insider Buying and Selling

In other Donaldson news, CEO Tod E. Carpenter sold 24,081 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $72.52, for a total value of $1,746,354.12. Following the transaction, the chief executive officer now owns 256,742 shares of the company’s stock, valued at approximately $18,618,929.84. The trade was a 8.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Owens sold 5,210 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $71.74, for a total transaction of $373,765.40. Following the completion of the transaction, the director now directly owns 17,788 shares of the company’s stock, valued at approximately $1,276,111.12. This represents a 22.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 167,805 shares of company stock worth $12,310,222 in the last quarter. 2.70% of the stock is currently owned by company insiders.

Donaldson Company Profile

Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. The company operates through three segments: Mobile Solutions, Industrial Solutions, and Life Sciences. Its Mobile Solutions segment provides replacement filters for air and liquid filtration applications, such as air filtration systems; liquid filtration systems for fuel, lube, and hydraulic applications; exhaust and emissions systems and sensors; indicators; and monitoring systems.