New England Research & Management Inc. Trims Stock Holdings in Donaldson Company, Inc. (NYSE:DCI)

New England Research & Management Inc. lessened its stake in shares of Donaldson Company, Inc. (NYSE:DCI) by 12.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,379 shares of the industrial products company’s stock after selling 1,350 shares during the quarter. New England Research & Management Inc.’s holdings in Donaldson were worth $629,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of DCI. Van ECK Associates Corp grew its holdings in Donaldson by 27.6% in the fourth quarter. Van ECK Associates Corp now owns 161,060 shares of the industrial products company’s stock valued at $10,848,000 after purchasing an additional 34,849 shares during the last quarter. Naples Global Advisors LLC lifted its position in Donaldson by 100.6% during the fourth quarter. Naples Global Advisors LLC now owns 15,068 shares of the industrial products company’s stock worth $1,015,000 after buying an additional 7,556 shares during the period. Sanctuary Advisors LLC lifted its position in Donaldson by 10.6% during the fourth quarter. Sanctuary Advisors LLC now owns 21,882 shares of the industrial products company’s stock worth $1,568,000 after buying an additional 2,095 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Donaldson by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 3,738 shares of the industrial products company’s stock worth $252,000 after purchasing an additional 187 shares during the period. Finally, Truist Financial Corp raised its holdings in shares of Donaldson by 4.9% in the 4th quarter. Truist Financial Corp now owns 6,199 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 290 shares during the period. Hedge funds and other institutional investors own 82.81% of the company’s stock.

Donaldson Price Performance

DCI opened at $68.61 on Friday. Donaldson Company, Inc. has a 1 year low of $57.45 and a 1 year high of $78.95. The stock has a fifty day moving average price of $67.11 and a 200 day moving average price of $68.61. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 1.82 and a beta of 0.99. The company has a current ratio of 1.85, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35.

Donaldson (NYSE:DCI) last posted its quarterly earnings data on Tuesday, June 3rd. The industrial products company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. Donaldson had a return on equity of 29.07% and a net margin of 11.56%. The business had revenue of $940.10 million for the quarter, compared to analyst estimates of $936.02 million. During the same period in the previous year, the company posted $0.92 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts forecast that Donaldson Company, Inc. will post 3.64 EPS for the current fiscal year.

Donaldson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.30 dividend. This is an increase from Donaldson’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Monday, June 16th. Donaldson’s payout ratio is presently 40.27%.

Analyst Ratings Changes

DCI has been the subject of a number of recent research reports. Stifel Nicolaus lowered their target price on Donaldson from $70.00 to $63.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Morgan Stanley reaffirmed an “underweight” rating and set a $69.00 target price (up previously from $65.00) on shares of Donaldson in a report on Friday, June 6th. Robert W. Baird increased their target price on Donaldson from $76.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. Finally, Wall Street Zen downgraded Donaldson from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Donaldson presently has a consensus rating of “Hold” and a consensus target price of $70.00.

Insider Transactions at Donaldson

In other news, Director James Owens sold 18,700 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $62.02, for a total value of $1,159,774.00. Following the transaction, the director now owns 20,246 shares of the company’s stock, valued at $1,255,656.92. This represents a 48.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Thomas R. Scalf sold 28,500 shares of Donaldson stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $69.22, for a total value of $1,972,770.00. Following the completion of the sale, the president now directly owns 28,334 shares in the company, valued at $1,961,279.48. This represents a 50.15% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

Donaldson Company Profile

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.