Federated Hermes Inc. lowered its stake in Donaldson Company, Inc. (NYSE:DCI – Get Rating) by 6.3% during the third quarter, Holdings Channel.com reports. The fund owned 19,302 shares of the industrial products company’s stock after selling 1,300 shares during the quarter. Federated Hermes Inc.’s holdings in Donaldson were worth $946,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new stake in Donaldson in the 3rd quarter valued at $27,000. Adirondack Trust Co. purchased a new position in Donaldson in the 3rd quarter valued at $39,000. Wipfli Financial Advisors LLC purchased a new position in Donaldson in the 3rd quarter valued at $58,000. IFP Advisors Inc lifted its holdings in Donaldson by 22.3% in the 3rd quarter. IFP Advisors Inc now owns 1,597 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 291 shares in the last quarter. Finally, CWM LLC lifted its holdings in Donaldson by 22.4% in the 3rd quarter. CWM LLC now owns 1,710 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 313 shares in the last quarter. Institutional investors and hedge funds own 80.10% of the company’s stock.
Insider Buying and Selling
In related news, President Thomas R. Scalf sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $61.00, for a total transaction of $274,500.00. Following the completion of the sale, the president now directly owns 26,443 shares of the company’s stock, valued at approximately $1,613,023. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director James Owens sold 10,800 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $66.08, for a total transaction of $713,664.00. Following the completion of the transaction, the director now directly owns 14,378 shares of the company’s stock, valued at $950,098.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Thomas R. Scalf sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $61.00, for a total value of $274,500.00. Following the completion of the sale, the president now owns 26,443 shares of the company’s stock, valued at approximately $1,613,023. The disclosure for this sale can be found here. Corporate insiders own 2.77% of the company’s stock.
Donaldson Stock Down 1.5 %
Donaldson (NYSE:DCI – Get Rating) last issued its quarterly earnings data on Wednesday, March 8th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The firm had revenue of $828.30 million during the quarter, compared to the consensus estimate of $838.29 million. Donaldson had a return on equity of 32.35% and a net margin of 10.45%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the company earned $0.57 EPS. As a group, equities analysts anticipate that Donaldson Company, Inc. will post 3.05 earnings per share for the current year.
Donaldson Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 27th. Investors of record on Friday, February 10th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Thursday, February 9th. Donaldson’s payout ratio is 31.94%.
Analyst Ratings Changes
A number of research analysts have weighed in on DCI shares. Morgan Stanley raised their price objective on Donaldson from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, March 2nd. Robert W. Baird lifted their price target on Donaldson from $66.00 to $69.00 in a report on Friday, March 3rd.
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.
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