Confluence Investment Management LLC Reduces Stock Position in Donaldson Company, Inc. $DCI

Confluence Investment Management LLC trimmed its holdings in shares of Donaldson Company, Inc. (NYSE:DCI) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 247,292 shares of the industrial products company’s stock after selling 18,431 shares during the quarter. Confluence Investment Management LLC’s holdings in Donaldson were worth $22,199,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Pacer Advisors Inc. lifted its holdings in shares of Donaldson by 27.7% in the 1st quarter. Pacer Advisors Inc. now owns 17,535 shares of the industrial products company’s stock valued at $1,488,000 after acquiring an additional 3,807 shares during the last quarter. First Nebraska Trust Co bought a new stake in Donaldson during the first quarter worth approximately $6,918,000. Bank of America Corp DE raised its position in Donaldson by 41.2% during the first quarter. Bank of America Corp DE now owns 442,180 shares of the industrial products company’s stock valued at $37,528,000 after purchasing an additional 128,913 shares during the period. Edgestream Partners L.P. purchased a new stake in Donaldson during the first quarter valued at approximately $1,947,000. Finally, Amundi lifted its stake in shares of Donaldson by 16.5% in the 1st quarter. Amundi now owns 6,377 shares of the industrial products company’s stock valued at $541,000 after purchasing an additional 905 shares during the last quarter. Institutional investors own 82.81% of the company’s stock.

Donaldson Stock Performance

Donaldson stock opened at $96.21 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.35 and a quick ratio of 1.55. The firm has a market capitalization of $11.15 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 2.38 and a beta of 0.92. Donaldson Company, Inc. has a 1-year low of $71.03 and a 1-year high of $112.84. The company’s 50-day moving average is $88.07 and its 200 day moving average is $91.23.

Donaldson (NYSE:DCI) last announced its earnings results on Monday, June 1st. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.01. Donaldson had a return on equity of 29.17% and a net margin of 11.52%.The business had revenue of $995.10 million during the quarter, compared to analyst estimates of $973.65 million. During the same quarter in the previous year, the business earned $0.99 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. Research analysts forecast that Donaldson Company, Inc. will post 3.96 EPS for the current year.

Donaldson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a dividend of $0.32 per share. The ex-dividend date is Monday, August 17th. This represents a $1.28 dividend on an annualized basis and a yield of 1.3%. Donaldson’s payout ratio is presently 34.41%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Stifel Nicolaus dropped their target price on Donaldson from $96.00 to $91.00 and set a “hold” rating for the company in a report on Thursday, June 4th. Wall Street Zen downgraded Donaldson from a “buy” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company set a $91.00 price target on Donaldson in a research report on Thursday, June 4th. Finally, Weiss Ratings upgraded shares of Donaldson from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.83.

Donaldson Company Profile

Donaldson Company, Inc (NYSE: DCI) is a global provider of filtration systems and replacement parts for a wide range of industries. The company develops and manufactures air, liquid and gas filtration solutions for engine and industrial applications, helping customers improve performance, lower emissions and extend equipment life. Donaldson’s product portfolio includes engine air intake filters, fuel filters, hydraulic filters, compressor filters, dust collection systems and gas turbine air intake systems.

Serving markets such as agriculture, construction, mining, power generation, aerospace and original equipment manufacturing, Donaldson operates through two primary business segments: Engine Products and Industrial Products.