30,960 Shares in Donaldson Company, Inc. (DCI) Acquired by Blue Sky Asset Management LLC
Blue Sky Asset Management LLC bought a new stake in Donaldson Company, Inc. (NYSE:DCI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 30,960 shares of the industrial products company’s stock, valued at approximately $1,410,000. Donaldson accounts for approximately 0.8% of Blue Sky Asset Management LLC’s portfolio, making the stock its 21st largest position.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Clean Yield Group acquired a new position in shares of Donaldson during the first quarter valued at $109,000. TrimTabs Asset Management LLC acquired a new position in shares of Donaldson during the first quarter valued at $125,000. Schroder Investment Management Group acquired a new position in shares of Donaldson during the first quarter valued at $154,000. Mosaic Family Wealth LLC increased its position in shares of Donaldson by 3.0% in the first quarter. Mosaic Family Wealth LLC now owns 4,215 shares of the industrial products company’s stock valued at $192,000 after buying an additional 123 shares during the last quarter. Finally, Tyers Asset Management LLC increased its position in shares of Donaldson by 16.5% in the first quarter. Tyers Asset Management LLC now owns 4,416 shares of the industrial products company’s stock valued at $201,000 after buying an additional 624 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.
Shares of Donaldson Company, Inc. (NYSE DCI) opened at 47.57 on Wednesday. The company’s 50 day moving average price is $46.37 and its 200 day moving average price is $45.19. Donaldson Company, Inc. has a 12 month low of $35.59 and a 12 month high of $48.91. The stock has a market capitalization of $6.24 billion, a PE ratio of 28.32 and a beta of 1.22.
Donaldson (NYSE:DCI) last posted its quarterly earnings results on Thursday, June 1st. The industrial products company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $608.20 million during the quarter, compared to analysts’ expectations of $580.44 million. Donaldson had a return on equity of 28.12% and a net margin of 9.72%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.43 EPS. Equities analysts anticipate that Donaldson Company, Inc. will post ($0.38) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be issued a $0.18 dividend. This is a boost from Donaldson’s previous quarterly dividend of $0.18. This represents a $0.72 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, August 11th. Donaldson’s dividend payout ratio (DPR) is currently 41.92%.
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Several research analysts have recently weighed in on the company. Stifel Nicolaus reaffirmed a “hold” rating and set a $48.00 target price (up from $45.00) on shares of Donaldson in a research note on Friday, June 2nd. Zacks Investment Research raised Donaldson from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Friday, May 12th. BidaskClub downgraded Donaldson from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Donaldson in a research note on Thursday, June 1st. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $48.25.
In related news, Director Michael J. Hoffman sold 14,400 shares of Donaldson stock in a transaction on Monday, June 19th. The stock was sold at an average price of $46.84, for a total transaction of $674,496.00. Following the completion of the transaction, the director now directly owns 41,473 shares of the company’s stock, valued at $1,942,595.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.88% of the stock is owned by company insiders.
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 44 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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