Donaldson Company, Inc. $DCI Stock: Sumitomo Mitsui DS Asset Management Company Ltd Lowers Stake

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its position in Donaldson Company, Inc. (NYSE:DCI) by 78.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,540 shares of the industrial products company’s stock after selling 58,060 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Donaldson were worth $1,353,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. IFP Advisors Inc lifted its stake in Donaldson by 9.9% during the third quarter. IFP Advisors Inc now owns 1,283 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 116 shares during the last quarter. HB Wealth Management LLC increased its stake in Donaldson by 3.8% during the first quarter. HB Wealth Management LLC now owns 3,502 shares of the industrial products company’s stock valued at $297,000 after purchasing an additional 129 shares during the last quarter. Blue Trust Inc. increased its stake in Donaldson by 4.8% during the first quarter. Blue Trust Inc. now owns 2,925 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 133 shares during the last quarter. Bessemer Group Inc. increased its stake in Donaldson by 8.9% during the first quarter. Bessemer Group Inc. now owns 1,707 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 139 shares during the last quarter. Finally, Studio Investment Management LLC raised its holdings in shares of Donaldson by 1.6% during the second quarter. Studio Investment Management LLC now owns 11,413 shares of the industrial products company’s stock worth $1,025,000 after purchasing an additional 185 shares during the period. 82.81% of the stock is owned by institutional investors and hedge funds.

Donaldson Stock Performance

NYSE:DCI traded down $1.38 during mid-day trading on Friday, hitting $84.74. The stock had a trading volume of 595,937 shares, compared to its average volume of 549,174. The company has a current ratio of 2.08, a quick ratio of 1.41 and a debt-to-equity ratio of 0.73. The company has a 50 day simple moving average of $89.01 and a 200-day simple moving average of $88.58. The stock has a market capitalization of $9.81 billion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 1.99 and a beta of 0.87. Donaldson Company, Inc. has a 52 week low of $79.61 and a 52 week high of $112.84.

Donaldson (NYSE:DCI) last posted its earnings results on Tuesday, August 25th. The industrial products company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. Donaldson had a net margin of 11.68% and a return on equity of 28.68%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. Donaldson’s quarterly revenue was up 8.0% on a year-over-year basis. On average, research analysts expect that Donaldson Company, Inc. will post 4.33 earnings per share for the current fiscal year.

Donaldson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, August 17th. Donaldson’s payout ratio is 33.25%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on DCI shares. Stifel Nicolaus set a $95.00 price target on shares of Donaldson in a research report on Friday, August 28th. Robert W. Baird lifted their price target on shares of Donaldson from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Morgan Stanley boosted their price objective on shares of Donaldson from $91.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 29th. Wall Street Zen lowered shares of Donaldson from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. Finally, Weiss Ratings upgraded shares of Donaldson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 20th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $101.67.

Donaldson Profile

Donaldson Company, Inc (NYSE: DCI) is a global manufacturer of filtration systems and replacement parts. The company serves original-equipment manufacturers, industrial businesses and aftermarket customers with products designed to protect engines, equipment, processes and the surrounding environment.

Its product portfolio includes air, oil, fuel, hydraulic and coolant filters for on- and off-road vehicles and heavy equipment, as well as filtration systems for industrial dust, fume and mist collection.