Granite Investment Partners LLC Holds Stake in Donaldson Company, Inc. (DCI)
Granite Investment Partners LLC maintained its position in shares of Donaldson Company, Inc. (NYSE:DCI) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,273 shares of the industrial products company’s stock at the end of the second quarter. Granite Investment Partners LLC’s holdings in Donaldson were worth $1,515,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of DCI. Mosaic Family Wealth LLC raised 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 worth $192,000 after buying an additional 123 shares during the period. First Merchants Corp raised its position in shares of Donaldson by 0.4% in the first quarter. First Merchants Corp now owns 33,321 shares of the industrial products company’s stock worth $1,517,000 after buying an additional 125 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Donaldson by 0.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 26,524 shares of the industrial products company’s stock worth $1,208,000 after buying an additional 137 shares during the last quarter. Liberty Mutual Group Asset Management Inc. raised its position in shares of Donaldson by 0.3% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 59,312 shares of the industrial products company’s stock worth $2,700,000 after buying an additional 190 shares during the last quarter. Finally, Creative Planning raised its position in shares of Donaldson by 0.3% in the second quarter. Creative Planning now owns 75,924 shares of the industrial products company’s stock worth $3,458,000 after buying an additional 193 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.
Donaldson Company, Inc. (DCI) opened at 46.49 on Friday. Donaldson Company, Inc. has a 1-year low of $35.59 and a 1-year high of $48.91. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 27.67 and a beta of 1.22. The firm’s 50-day moving average price is $46.50 and its 200 day moving average price is $45.37.
Donaldson (NYSE:DCI) last announced its quarterly earnings data on Thursday, June 1st. The industrial products company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The firm 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 in the previous year, the firm earned $0.43 EPS. On average, analysts predict that Donaldson Company, Inc. will post ($0.38) EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be issued a $0.18 dividend. The ex-dividend date is Friday, August 11th. This is a boost from Donaldson’s previous quarterly dividend of $0.18. This represents a $0.72 annualized dividend and a yield of 1.55%. Donaldson’s payout ratio is currently 41.92%.
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A number of brokerages recently commented on DCI. Zacks Investment Research lowered Donaldson from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub lowered Donaldson from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Stifel Nicolaus restated a “hold” rating and issued a $48.00 target price (up from $45.00) on shares of Donaldson in a research note on Friday, June 2nd. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Donaldson in a research note on Thursday, June 1st. Finally, 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. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $48.25.
In other Donaldson news, Director John Wiehoff sold 14,400 shares of Donaldson stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $46.33, for a total value of $667,152.00. Following the completion of the transaction, the director now directly owns 59,001 shares of the company’s stock, valued at approximately $2,733,516.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is owned by 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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