Donaldson (NYSE:DCI) Issues Earnings Results

Donaldson (NYSE:DCI) released its quarterly earnings data on Monday. The industrial products company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01, FiscalAI reports. Donaldson had a net margin of 10.09% and a return on equity of 29.85%. The company had revenue of $995.10 million for the quarter, compared to analysts’ expectations of $973.65 million.

Donaldson Stock Performance

NYSE:DCI opened at $81.76 on Tuesday. The firm’s fifty day moving average price is $85.78 and its 200 day moving average price is $91.80. Donaldson has a 1-year low of $67.71 and a 1-year high of $112.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.29 and a quick ratio of 1.46. The firm has a market cap of $9.47 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 2.06 and a beta of 0.99.

Donaldson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, June 15th. This is a positive change from Donaldson’s previous quarterly dividend of $0.30. Donaldson’s dividend payout ratio is presently 37.50%.

Analyst Upgrades and Downgrades

DCI has been the topic of a number of research analyst reports. Weiss Ratings cut shares of Donaldson from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 15th. UBS Group set a $96.00 price objective on shares of Donaldson in a report on Tuesday, February 24th. Morgan Stanley cut their price objective on shares of Donaldson from $93.00 to $91.00 and set an “equal weight” rating on the stock in a report on Monday, March 9th. Robert W. Baird cut their price objective on shares of Donaldson from $104.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, March 30th. Finally, Jefferies Financial Group raised their price objective on shares of Donaldson to $123.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $100.20.

Insiders Place Their Bets

In related news, Director James Owens sold 13,753 shares of Donaldson stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $89.21, for a total value of $1,226,905.13. Following the transaction, the director directly owned 22,565 shares in the company, valued at $2,013,023.65. This trade represents a 37.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 19,800 shares of company stock valued at $1,765,184. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Donaldson

Hedge funds and other institutional investors have recently bought and sold shares of the company. Strive Financial Group LLC purchased a new position in Donaldson in the 4th quarter valued at $57,000. UMB Bank n.a. grew its position in Donaldson by 47.9% in the 4th quarter. UMB Bank n.a. now owns 1,115 shares of the industrial products company’s stock valued at $99,000 after buying an additional 361 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Donaldson by 389.1% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,389 shares of the industrial products company’s stock valued at $114,000 after buying an additional 1,105 shares during the last quarter. Quarry LP grew its position in Donaldson by 23.4% in the 3rd quarter. Quarry LP now owns 1,671 shares of the industrial products company’s stock valued at $137,000 after buying an additional 317 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Donaldson by 84.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,032 shares of the industrial products company’s stock valued at $141,000 after buying an additional 933 shares during the last quarter. 82.81% of the stock is currently owned by hedge funds and other institutional investors.

About Donaldson

Donaldson Company, Inc (NYSE: DCI) is a global provider of filtration systems and replacement parts for a wide range of industries. The company develops and manufactures air, liquid and gas filtration solutions for engine and industrial applications, helping customers improve performance, lower emissions and extend equipment life. Donaldson’s product portfolio includes engine air intake filters, fuel filters, hydraulic filters, compressor filters, dust collection systems and gas turbine air intake systems.

Serving markets such as agriculture, construction, mining, power generation, aerospace and original equipment manufacturing, Donaldson operates through two primary business segments: Engine Products and Industrial Products.