Donaldson (NYSE:DCI) Now Covered by StockNews.com

Posted by Bonnie Powley on Mar 19th, 2023

StockNews.com initiated coverage on shares of Donaldson (NYSE:DCI – Get Rating) in a research note published on Thursday morning. The firm issued a strong-buy rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the stock. Robert W. Baird raised their price target on shares of Donaldson from $66.00 to $69.00 in a report on Friday, March 3rd. Morgan Stanley increased their price objective on shares of Donaldson from $66.00 to $70.00 and gave the company an overweight rating in a research report on Thursday, March 2nd.

Donaldson Trading Down 2.8 %

Shares of DCI stock opened at $62.22 on Thursday. The firm has a market cap of $7.55 billion, a P/E ratio of 21.60, a PEG ratio of 2.00 and a beta of 1.21. Donaldson has a 1-year low of $46.00 and a 1-year high of $66.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.33 and a quick ratio of 1.46. The firm’s 50-day simple moving average is $62.92 and its 200-day simple moving average is $58.34.

Donaldson (NYSE:DCI – Get Rating) last announced its quarterly earnings data on Wednesday, March 8th. The industrial products company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.06. Donaldson had a net margin of 10.45% and a return on equity of 32.35%. The business had revenue of $828.30 million for the quarter, compared to analyst estimates of $838.29 million. During the same period in the prior year, the firm posted $0.57 EPS. The company’s revenue was up 3.2% on a year-over-year basis. As a group, equities analysts forecast that Donaldson will post 3.05 EPS for the current year.

Donaldson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 27th. Shareholders of record on Friday, February 10th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, February 9th. Donaldson’s payout ratio is 31.94%.

Insider Buying and Selling at Donaldson

In other Donaldson news, Director James Owens sold 10,800 shares of the firm’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $66.08, for a total value of $713,664.00. Following the sale, the director now directly owns 14,378 shares in the company, valued at $950,098.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director James Owens sold 10,800 shares of Donaldson stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $66.08, for a total transaction of $713,664.00. Following the sale, the director now directly owns 14,378 shares in the company, valued at $950,098.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Thomas R. Scalf sold 4,500 shares of Donaldson stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $61.00, for a total transaction of $274,500.00. Following the sale, the president now owns 26,443 shares in the company, valued at $1,613,023. The disclosure for this sale can be found here. 2.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DCI. Norges Bank acquired a new position in Donaldson during the fourth quarter worth about $63,086,000. State Street Corp grew its holdings in Donaldson by 13.9% during the second quarter. State Street Corp now owns 6,767,711 shares of the industrial products company’s stock worth $325,798,000 after acquiring an additional 824,842 shares during the period. BlackRock Inc. grew its holdings in Donaldson by 3.9% during the first quarter. BlackRock Inc. now owns 10,996,071 shares of the industrial products company’s stock worth $571,026,000 after acquiring an additional 413,360 shares during the period. Morgan Stanley grew its holdings in Donaldson by 44.7% during the fourth quarter. Morgan Stanley now owns 1,308,238 shares of the industrial products company’s stock worth $77,016,000 after acquiring an additional 404,335 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in Donaldson by 55.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 783,111 shares of the industrial products company’s stock worth $40,667,000 after acquiring an additional 279,484 shares during the period. 80.10% of the stock is owned by institutional investors and hedge funds.

Donaldson Company Profile

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Donaldson Co, Inc engages in the manufacture of filtration systems and replacement parts. It operates through the following segments: Engine Products and Industrial Products. The Engine Products segment includes replacement filters for both air and liquid filtration applications, air filtration systems, liquid filtration systems for fuel, lube and hydraulic applications, and exhaust and emissions systems.