Confluence Investment Management LLC Reduces Stake in Donaldson Company, Inc. $DCI

Confluence Investment Management LLC decreased its stake in shares of Donaldson Company, Inc. (NYSE:DCI) by 10.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 220,992 shares of the industrial products company’s stock after selling 26,300 shares during the period. Confluence Investment Management LLC’s holdings in Donaldson were worth $19,235,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of DCI. BlackRock Inc. bought a new position in Donaldson in the 2nd quarter valued at about $1,072,012,000. Pictet Asset Management Holding SA grew its position in shares of Donaldson by 10,438.1% in the first quarter. Pictet Asset Management Holding SA now owns 1,801,481 shares of the industrial products company’s stock valued at $152,873,000 after purchasing an additional 1,784,386 shares during the last quarter. Norges Bank acquired a new position in shares of Donaldson in the fourth quarter valued at approximately $120,186,000. Bank of New York Mellon Corp bought a new position in shares of Donaldson during the second quarter worth approximately $95,542,000. Finally, Bank of America Corp DE acquired a new stake in Donaldson during the 2nd quarter worth approximately $46,685,000. Institutional investors and hedge funds own 82.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DCI. Robert W. Baird boosted their price target on Donaldson from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Stifel Nicolaus set a $95.00 target price on Donaldson in a report on Friday, August 28th. Wells Fargo & Company set a $91.00 target price on shares of Donaldson in a research report on Thursday, June 4th. Weiss Ratings upgraded shares of Donaldson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 20th. Finally, Wall Street Zen lowered shares of Donaldson from a “buy” rating to a “hold” rating in a research report on Saturday, September 19th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.67.

Donaldson Price Performance

DCI stock traded up $1.04 during midday trading on Thursday, reaching $88.08. The company had a trading volume of 183,843 shares, compared to its average volume of 716,498. Donaldson Company, Inc. has a 1-year low of $79.42 and a 1-year high of $112.84. The stock has a 50 day moving average price of $91.71 and a 200-day moving average price of $88.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.08 and a quick ratio of 1.41. The company has a market capitalization of $10.21 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92.

Donaldson (NYSE:DCI) last released its earnings results on Tuesday, August 25th. The industrial products company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Donaldson had a net margin of 11.68% and a return on equity of 28.68%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned $1.03 EPS. Equities research analysts expect that Donaldson Company, Inc. will post 4.34 earnings per share for the current year.

Donaldson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.5%. Donaldson’s payout ratio is 33.25%.

About Donaldson

Donaldson Company, Inc is a global manufacturer of filtration systems and related products. Founded in 1915 by Frank Donaldson, the company develops solutions that help protect engines, equipment, industrial processes and the environment from airborne and liquid contaminants.

Donaldson serves the engine and industrial markets. Its products include air and liquid filters, exhaust and emissions systems, hydraulic and fuel filtration products, dust and fume collectors, compressed-air and gas filtration systems, and filtration solutions for manufacturing, energy, transportation, agriculture, construction and other applications.