Donaldson Company, Inc. (NYSE:DCI) was the recipient of a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 5,084,300 shares, a drop of 9.9% from the July 15th total of 5,645,800 shares. Based on an average daily volume of 400,900 shares, the days-to-cover ratio is currently 12.7 days. Approximately 4.0% of the shares of the company are short sold.
Separately, Zacks Investment Research raised shares of Donaldson from a “sell” rating to a “hold” rating and set a $51.00 price target for the company in a research report on Monday, May 27th. Six equities research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of $53.00.
In related news, Director John Wiehoff sold 14,400 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $47.88, for a total value of $689,472.00. Following the completion of the transaction, the director now directly owns 66,860 shares of the company’s stock, valued at approximately $3,201,256.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.35% of the company’s stock.
Large investors have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. acquired a new stake in Donaldson in the 2nd quarter valued at $36,000. Meeder Asset Management Inc. acquired a new stake in Donaldson in the 2nd quarter valued at $66,000. Buffington Mohr McNeal acquired a new stake in Donaldson in the 1st quarter valued at $67,000. Dougherty Wealth Advisers LLC grew its stake in Donaldson by 193.4% in the 2nd quarter. Dougherty Wealth Advisers LLC now owns 1,517 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 1,000 shares during the period. Finally, Griffin Asset Management Inc. acquired a new stake in Donaldson in the 2nd quarter valued at $81,000. 80.61% of the stock is owned by hedge funds and other institutional investors.
DCI traded up $1.36 during trading on Thursday, reaching $48.16. 316,099 shares of the company’s stock were exchanged, compared to its average volume of 419,653. Donaldson has a 1 year low of $40.27 and a 1 year high of $59.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.63 and a quick ratio of 1.82. The stock has a market capitalization of $5.90 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 1.78 and a beta of 1.43. The company’s fifty day simple moving average is $48.52 and its 200-day simple moving average is $49.94.
Donaldson (NYSE:DCI) last posted its earnings results on Tuesday, June 4th. The industrial products company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.04). The firm had revenue of $713.00 million for the quarter, compared to analysts’ expectations of $745.05 million. Donaldson had a net margin of 10.96% and a return on equity of 32.30%. Donaldson’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $0.53 earnings per share. Equities analysts forecast that Donaldson will post 2.21 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Tuesday, August 13th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Monday, August 12th. Donaldson’s dividend payout ratio (DPR) is 42.00%.
Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. It operates through Engine Products and Industrial Products segments. The Engine Products segment offers replacement filters for air and liquid filtration applications, air filtration systems, liquid filtration systems for fuel, lube and hydraulic applications, and exhaust and emissions systems.
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