Arizona State Retirement System cut its position in Donaldson Company, Inc. (NYSE:DCI – Get Rating) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,410 shares of the industrial products company’s stock after selling 391 shares during the quarter. Arizona State Retirement System’s holdings in Donaldson were worth $1,735,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Sageworth Trust Co of South Dakota acquired a new stake in Donaldson during the 4th quarter valued at $32,000. Artemis Wealth Advisors LLC acquired a new stake in Donaldson during the 1st quarter valued at $36,000. Column Capital Advisors LLC lifted its holdings in Donaldson by 37.4% during the 4th quarter. Column Capital Advisors LLC now owns 1,000 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 272 shares during the last quarter. Covestor Ltd acquired a new stake in Donaldson during the 4th quarter valued at $63,000. Finally, CWM LLC acquired a new stake in Donaldson during the 4th quarter valued at $85,000. Institutional investors and hedge funds own 76.84% of the company’s stock.
Insider Buying and Selling at Donaldson
In other Donaldson news, Director Willard D. Oberton sold 7,200 shares of Donaldson stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $53.09, for a total value of $382,248.00. Following the transaction, the director now owns 23,903 shares in the company, valued at $1,269,010.27. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.52% of the company’s stock.
Donaldson Stock Up 2.0 %
Donaldson (NYSE:DCI – Get Rating) last issued its quarterly earnings results on Wednesday, June 1st. The industrial products company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.05). Donaldson had a return on equity of 28.15% and a net margin of 9.91%. The company had revenue of $853.20 million during the quarter, compared to the consensus estimate of $823.99 million. During the same quarter in the previous year, the business posted $0.66 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts forecast that Donaldson Company, Inc. will post 2.69 earnings per share for the current fiscal year.
Donaldson Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Thursday, June 9th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.69%. This is a boost from Donaldson’s previous quarterly dividend of $0.22. Donaldson’s dividend payout ratio (DPR) is presently 36.65%.
Analyst Upgrades and Downgrades
DCI has been the subject of several research reports. StockNews.com downgraded Donaldson from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 12th. Robert W. Baird dropped their target price on Donaldson from $65.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, June 2nd. Morgan Stanley dropped their target price on Donaldson from $68.00 to $63.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Finally, Stifel Nicolaus dropped their target price on Donaldson from $53.00 to $51.00 in a report on Monday, July 18th.
Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. The company operates through two segments, Engine Products and Industrial Products. Its Engine Products segment provides replacement filters for air and liquid filtration applications; air filtration systems; liquid filtration systems for fuel, lube, and hydraulic applications; exhaust and emissions systems and sensors; indicators; and monitoring systems.
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