Palisade Asset Management LLC Maintains Position in Donaldson Company, Inc. (DCI)
Palisade Asset Management LLC held its stake in shares of Donaldson Company, Inc. (NYSE:DCI) during the second quarter, Holdings Channel reports. The fund owned 83,730 shares of the industrial products company’s stock at the end of the second quarter. Palisade Asset Management LLC’s holdings in Donaldson were worth $3,813,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Clean Yield Group acquired a new stake in shares of Donaldson during the first quarter valued at $109,000. TrimTabs Asset Management LLC acquired a new stake in shares of Donaldson during the first quarter valued at $125,000. Schroder Investment Management Group acquired a new stake in shares of Donaldson during the first quarter valued at $154,000. Mosaic Family Wealth LLC increased its stake 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 stake 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. Hedge funds and other institutional investors own 78.83% of the company’s stock.
Shares of Donaldson Company, Inc. (NYSE DCI) opened at 47.04 on Thursday. Donaldson Company, Inc. has a 52 week low of $35.59 and a 52 week high of $48.91. The company’s 50-day moving average price is $46.43 and its 200 day moving average price is $45.33. The company has a market cap of $6.17 billion, a P/E ratio of 28.00 and a beta of 1.22.
Donaldson (NYSE:DCI) last announced its quarterly earnings results on Thursday, June 1st. The industrial products company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $608.20 million for the quarter, compared to the consensus estimate of $580.44 million. Donaldson had a return on equity of 28.12% and a net margin of 9.72%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 earnings per share. On average, equities analysts forecast that Donaldson Company, Inc. will post ($0.38) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Friday, August 11th. This is an increase from Donaldson’s previous quarterly dividend of $0.18. Donaldson’s payout ratio is 41.92%.
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DCI has been the subject of several recent analyst reports. Zacks Investment Research upgraded Donaldson from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Wednesday, May 31st. Jefferies Group LLC upgraded Donaldson from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Wednesday, May 31st. BidaskClub upgraded Donaldson from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Stifel Nicolaus restated a “hold” rating and set a $48.00 target price (up previously from $45.00) on shares of Donaldson in a research note on Friday, June 2nd. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Donaldson in a research note on Thursday, June 1st. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $48.25.
In other Donaldson news, Director Michael J. Hoffman sold 14,400 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 41,473 shares of the company’s stock, valued at $1,942,595.32. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.88% of the stock is owned by insiders.
Donaldson Company Profile
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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