Martingale Asset Management L P increased its stake in Donaldson Company, Inc. (NYSE:DCI – Free Report) by 459.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,440 shares of the industrial products company’s stock after acquiring an additional 84,128 shares during the period. Martingale Asset Management L P owned about 0.08% of Donaldson worth $6,693,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Belpointe Asset Management LLC purchased a new position in Donaldson in the 4th quarter worth approximately $32,000. Bessemer Group Inc. increased its stake in shares of Donaldson by 521.3% in the first quarter. Bessemer Group Inc. now owns 497 shares of the industrial products company’s stock worth $32,000 after buying an additional 417 shares during the period. Fred Alger Management LLC bought a new stake in Donaldson during the 3rd quarter valued at $35,000. Trust Co. of Vermont purchased a new stake in Donaldson during the 1st quarter valued at $42,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Donaldson in the 1st quarter worth $48,000. 80.35% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have recently weighed in on DCI shares. StockNews.com lowered shares of Donaldson from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 16th. Robert W. Baird increased their price objective on Donaldson from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Citigroup assumed coverage on Donaldson in a research note on Tuesday, June 27th. They set a “neutral” rating and a $66.00 target price on the stock. They noted that the move was a valuation call.
Insider Transactions at Donaldson
In related news, insider Amy C. Becker sold 3,000 shares of Donaldson stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $63.84, for a total transaction of $191,520.00. Following the completion of the transaction, the insider now directly owns 35,809 shares of the company’s stock, valued at approximately $2,286,046.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Donaldson news, Director Douglas A. Milroy sold 26,300 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $63.95, for a total value of $1,681,885.00. Following the sale, the director now directly owns 2,824 shares of the company’s stock, valued at $180,594.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Amy C. Becker sold 3,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $63.84, for a total value of $191,520.00. Following the transaction, the insider now owns 35,809 shares of the company’s stock, valued at $2,286,046.56. The disclosure for this sale can be found here. Insiders have sold 53,300 shares of company stock valued at $3,371,965 in the last three months. 2.77% of the stock is currently owned by company insiders.
Donaldson Trading Up 0.8 %
Shares of NYSE DCI traded up $0.49 during midday trading on Friday, hitting $64.36. 51,270 shares of the company traded hands, compared to its average volume of 431,398. Donaldson Company, Inc. has a 12-month low of $48.17 and a 12-month high of $66.96. The firm has a market cap of $7.80 billion, a P/E ratio of 21.51, a P/E/G ratio of 1.85 and a beta of 1.20. The stock has a 50-day moving average price of $62.10 and a 200 day moving average price of $62.81. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.27 and a current ratio of 1.90.
Donaldson (NYSE:DCI – Get Free Report) last announced its earnings results on Tuesday, August 29th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. Donaldson had a return on equity of 32.06% and a net margin of 10.69%. The firm had revenue of $879.50 million during the quarter, compared to analyst estimates of $896.05 million. During the same quarter in the prior year, the company earned $0.84 EPS. The business’s revenue was down 1.2% compared to the same quarter last year. As a group, analysts expect that Donaldson Company, Inc. will post 3.04 earnings per share for the current year.
Donaldson Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Stockholders of record on Tuesday, August 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Monday, August 14th. Donaldson’s dividend payout ratio (DPR) is presently 33.67%.
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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