Donaldson (NYSE:DCI) Reaches New 52-Week High Following Better-Than-Expected Earnings

Donaldson Company, Inc. (NYSE:DCIGet Free Report) shares hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $78.03 and last traded at $72.78, with a volume of 237195 shares. The stock had previously closed at $71.95.

The industrial products company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. The business had revenue of $927.90 million for the quarter, compared to analysts’ expectations of $915.84 million. Donaldson had a net margin of 10.82% and a return on equity of 28.52%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.76 earnings per share.

Donaldson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a $0.27 dividend. This is a positive change from Donaldson’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Monday, June 17th. Donaldson’s dividend payout ratio is currently 32.57%.

Analyst Ratings Changes

Several brokerages recently commented on DCI. StockNews.com raised Donaldson from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 7th. Robert W. Baird lowered their price target on Donaldson from $80.00 to $79.00 and set an “outperform” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Donaldson currently has an average rating of “Hold” and an average price target of $67.25.

Read Our Latest Report on Donaldson

Insider Activity at Donaldson

In other Donaldson news, Director Willard D. Oberton sold 4,500 shares of Donaldson stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $73.54, for a total value of $330,930.00. Following the transaction, the director now owns 27,685 shares in the company, valued at $2,035,954.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Donaldson news, insider Sheila G. Kramer sold 45,500 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $73.52, for a total transaction of $3,345,160.00. Following the completion of the sale, the insider now directly owns 23,171 shares of the company’s stock, valued at $1,703,531.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Willard D. Oberton sold 4,500 shares of Donaldson stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $73.54, for a total transaction of $330,930.00. Following the completion of the transaction, the director now directly owns 27,685 shares in the company, valued at $2,035,954.90. The disclosure for this sale can be found here. Company insiders own 2.58% of the company’s stock.

Hedge Funds Weigh In On Donaldson

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DCI. TD Asset Management Inc boosted its position in shares of Donaldson by 215.2% in the fourth quarter. TD Asset Management Inc now owns 1,552,946 shares of the industrial products company’s stock worth $101,485,000 after buying an additional 1,060,232 shares during the period. Norges Bank acquired a new stake in Donaldson during the 4th quarter worth about $57,923,000. Epoch Investment Partners Inc. grew its stake in Donaldson by 91.0% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,141,693 shares of the industrial products company’s stock valued at $74,610,000 after acquiring an additional 544,008 shares in the last quarter. Eagle Ridge Investment Management acquired a new position in shares of Donaldson in the 1st quarter valued at about $25,351,000. Finally, Confluence Investment Management LLC purchased a new stake in Donaldson in the 1st quarter worth approximately $25,018,000. Institutional investors and hedge funds own 82.81% of the company’s stock.

Donaldson Trading Up 2.1 %

The firm has a market capitalization of $8.99 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 2.09 and a beta of 1.06. The company has a fifty day moving average of $73.69 and a 200-day moving average of $68.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.47 and a quick ratio of 0.99.

About Donaldson

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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.

Further Reading

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