BTIM Corp. Decreases Position in Donaldson Co. (DCI)
BTIM Corp. decreased its stake in shares of Donaldson Co. (NYSE:DCI) by 0.5% during the third quarter, Holdings Channel reports. The institutional investor owned 1,090,210 shares of the company’s stock after selling 5,426 shares during the period. BTIM Corp.’s holdings in Donaldson were worth $40,697,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Independent Portfolio Consultants Inc. increased its stake in shares of Donaldson by 9.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 5,240 shares of the company’s stock valued at $180,000 after buying an additional 455 shares in the last quarter. Washington Trust Bank increased its stake in shares of Donaldson by 0.5% in the third quarter. Washington Trust Bank now owns 5,024 shares of the company’s stock valued at $188,000 after buying an additional 24 shares in the last quarter. Foster Dykema Cabot & Co. Inc. MA acquired a new stake in shares of Donaldson during the second quarter valued at approximately $206,000. First Allied Advisory Services Inc. purchased a new position in Donaldson during the second quarter worth about $206,000. Finally, World Asset Management Inc purchased a new position in Donaldson during the second quarter worth about $207,000. Institutional investors and hedge funds own 80.65% of the company’s stock.
Shares of Donaldson Co. (NYSE:DCI) traded up 1.25% during trading on Wednesday, reaching $40.53. The company had a trading volume of 66,543 shares. Donaldson Co. has a 1-year low of $25.21 and a 1-year high of $40.96. The company’s 50 day moving average is $37.82 and its 200-day moving average is $36.29. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 28.54 and a beta of 0.93.
Donaldson (NYSE:DCI) last announced its quarterly earnings data on Thursday, September 8th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $593 million for the quarter, compared to analysts’ expectations of $594.80 million. Donaldson had a net margin of 8.59% and a return on equity of 27.06%. Donaldson’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.45 earnings per share. On average, equities research analysts anticipate that Donaldson Co. will post $1.58 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 21st. Stockholders of record on Tuesday, December 6th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Friday, December 2nd. Donaldson’s dividend payout ratio (DPR) is presently 49.30%.
A number of research firms have recently issued reports on DCI. Zacks Investment Research upgraded Donaldson from a “sell” rating to a “hold” rating in a research note on Monday. Robert W. Baird raised their price target on Donaldson from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, September 9th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.25.
In other news, Director John Wiehoff sold 14,400 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $36.32, for a total transaction of $523,008.00. Following the sale, the director now directly owns 56,877 shares of the company’s stock, valued at $2,065,772.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.88% of the company’s stock.
Donaldson Company, Inc is a manufacturer of filtration systems and replacement parts. The Company’s segments include Engine Products, Industrial Products and Corporate. The Company’s products are manufactured at approximately 42 plants around the world and through three joint ventures. The Company offers its products under the Ultra-Web, PowerCore and Donaldson brands.
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