Donaldson (NYSE:DCI) Sets New 12-Month High After Dividend Announcement

Donaldson Company, Inc. (NYSE:DCI)’s stock price hit a new 52-week high on Monday following a dividend announcement from the company. The stock traded as high as $78.82 and last traded at $78.73, with a volume of 69287 shares traded. The stock had previously closed at $77.45.

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

Analysts Set New Price Targets

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

Donaldson Trading Down 0.3 %

The company has a market cap of $9.35 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 2.03 and a beta of 1.04. The company has a current ratio of 1.84, a quick ratio of 1.23 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average of $74.57 and a two-hundred day moving average of $73.33.

Donaldson (NYSE:DCI) last posted its earnings results on Wednesday, August 28th. The industrial products company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.06. The firm had revenue of $935.40 million during the quarter, compared to the consensus estimate of $941.12 million. Donaldson had a net margin of 11.54% and a return on equity of 29.47%. As a group, sell-side analysts predict that Donaldson Company, Inc. will post 3.63 EPS for the current year.

Insider Buying and Selling

In other news, President Thomas R. Scalf sold 4,295 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $73.33, for a total transaction of $314,952.35. Following the sale, the president now directly owns 30,834 shares in the company, valued at $2,261,057.22. This represents a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James Owens sold 5,210 shares of the 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 sale, the director now directly owns 17,788 shares in the company, valued at approximately $1,276,111.12. The trade was a 22.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,805 shares of company stock valued at $12,310,222. Company insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DCI. Tidal Investments LLC grew its position in Donaldson by 26.9% during the third quarter. Tidal Investments LLC now owns 9,327 shares of the industrial products company’s stock worth $687,000 after buying an additional 1,980 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of Donaldson by 33.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 19,787 shares of the industrial products company’s stock valued at $1,533,000 after acquiring an additional 4,908 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Donaldson by 32.6% during the third quarter. TD Private Client Wealth LLC now owns 2,540 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 625 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Donaldson by 5.1% in the third quarter. Geode Capital Management LLC now owns 2,448,879 shares of the industrial products company’s stock worth $180,522,000 after purchasing an additional 118,156 shares during the last quarter. Finally, Vestcor Inc raised its stake in Donaldson by 10.2% in the third quarter. Vestcor Inc now owns 11,620 shares of the industrial products company’s stock valued at $856,000 after purchasing an additional 1,079 shares in the last quarter. Institutional investors own 82.81% of the company’s stock.

About Donaldson

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.