Arizona State Retirement System reduced its position in shares of Donaldson Company, Inc. (NYSE: DCI – Get Rating) by 1.2% in the 1st quarter, according to the company in its latest Form 13F filed with the Securities & Exchange Commission. The company held 33,410 shares of the industrial products company after selling 391 shares during the quarter. The Arizona State Retirement System’s holdings in Donaldson were worth $1,735,000 at the end of the most recent reporting period.
Several other large investors have also recently changed their DCI holdings. American Century Companies Inc. increased its position in Donaldson shares by 132.2% during the fourth quarter. American Century Companies Inc. now owns 1,803,843 shares of the industrial products company worth $106,895,000 after purchasing an additional 1,026,890 shares during the period. Millennium Management LLC increased its position in Donaldson stock by 690.2% during the fourth quarter. Millennium Management LLC now owns 713,561 shares of the industrial products company worth $42,286,000 after purchasing an additional 623,258 shares during the period. HighTower Advisors LLC increased its position in Donaldson shares by 727.3% during the fourth quarter. HighTower Advisors LLC now owns 641,883 shares of the industrial products company worth $38,043,000 after purchasing an additional 564,293 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in Donaldson shares by 1,642.4% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 503,627 shares of the industrial products company worth $29,845,000 after purchasing an additional 474,722 shares during the period. Finally, State Street Corp increased its position in Donaldson shares by 8.0% during the fourth quarter. State Street Corp now owns 5,560,460 shares of the industrial products company worth $329,513,000 after purchasing an additional 410,487 shares during the period. 76.84% of the shares are currently held by institutional investors and hedge funds.
Donaldson sources 2.0%
Donaldson stock opened at $54.41 on Monday. Donaldson Company, Inc. has a 1 year minimum of $46.00 and a 1 year maximum of $69.35. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 21.68, a growth price-to-earnings ratio of 1.84, and a beta of 1.24. The company’s fifty-day moving average price is $49.94 and its two-hundred-day moving average price is $51.68. The company has a current ratio of 2.25, a quick ratio of 1.41 and a debt ratio of 0.54.
Donaldson (NYSE:DCI – Get Rating) last released quarterly earnings data on Wednesday, June 1. The industrial products company reported earnings per share of $0.67 for the quarter, missing analyst consensus estimates of $0.72 per ($0.05). Donaldson had a net margin of 9.91% and a return on equity of 28.15%. The company posted revenue of $853.20 million in the quarter, versus a consensus estimate of $823.99 million. During the same period last year, the company posted earnings per share of $0.66. The company’s quarterly revenue increased 11.5% year over year. On average, stock research analysts expect Donaldson Company, Inc. to post earnings per share of 2.69 for the current fiscal year.
Donaldson increases its dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 24. Investors of record on Thursday, June 9 received a dividend of $0.23 per share. This is a positive change from Donaldson’s previous quarterly dividend of $0.22. This represents a dividend of $0.92 on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Wednesday, June 8. Donaldson’s dividend payout ratio (DPR) is currently 36.65%.
Insider Activity at Donaldson
Separately, director Willard D. Oberton sold 7,200 shares of the company in a transaction dated Thursday, June 2. The shares were sold at an average price of $53.09, for a total transaction of $382,248.00. As a result of the transaction, the administrator now directly owns 23,903 shares of the company, valued at $1,269,010.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. 2.52% of the shares are held by insiders.
Wall Street analysts predict growth
A number of equity research analysts commented on the stock. Stifel Nicolaus cut his price target on Donaldson shares from $53.00 to $51.00 in a Monday July 18 report. Morgan Stanley cut its price target on Donaldson shares from $68.00 to $63.00 and set an “overweight” rating for the company in a Monday, July 18 report. StockNews.com upgraded Donaldson’s shares from a “strong buy” rating to a “buy” rating in a report on Sunday, June 12. Finally, Robert W. Baird cut his price target on Donaldson stock from $65.00 to $61.00 and set an “outperform” rating for the company in a Thursday, June 2 report.
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Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. The Company operates through two segments, Motor Products and Industrial Products. Its Engine Products segment provides replacement filters for air and liquid filtration applications; air filtration systems; liquid filtration systems for fuels, lubricants and hydraulic applications; exhaust and emissions systems and sensors; indicators; and monitoring systems.
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