Sprucegrove Investment Management Ltd. Trims Stake in Donaldson Company, Inc. (NYSE:DCI)

Sprucegrove Investment Management Ltd. reduced its position in Donaldson Company, Inc. (NYSE:DCI) by 12.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 453,901 shares of the industrial products company’s stock after selling 63,000 shares during the period. Sprucegrove Investment Management Ltd. owned 0.36% of Donaldson worth $26,399,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Panagora Asset Management Inc. increased its position in Donaldson by 40.4% during the 1st quarter. Panagora Asset Management Inc. now owns 15,622 shares of the industrial products company’s stock worth $909,000 after purchasing an additional 4,492 shares during the period. Sei Investments Co. grew its holdings in shares of Donaldson by 18.0% in the 1st quarter. Sei Investments Co. now owns 39,888 shares of the industrial products company’s stock worth $2,323,000 after acquiring an additional 6,092 shares during the period. Sciencast Management LP grew its holdings in shares of Donaldson by 27.1% in the 1st quarter. Sciencast Management LP now owns 13,550 shares of the industrial products company’s stock worth $797,000 after acquiring an additional 2,890 shares during the period. UBS Group AG grew its holdings in shares of Donaldson by 23.9% in the 1st quarter. UBS Group AG now owns 219,063 shares of the industrial products company’s stock worth $12,741,000 after acquiring an additional 42,207 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Donaldson in the 1st quarter worth approximately $203,000. 79.78% of the stock is owned by hedge funds and other institutional investors.

NYSE DCI traded up $0.23 during trading hours on Friday, reaching $61.83. The company’s stock had a trading volume of 260 shares, compared to its average volume of 479,247. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 2.18. The company has a 50-day moving average of $61.68. Donaldson Company, Inc. has a 52 week low of $42.58 and a 52 week high of $65.47. The company has a market cap of $7.76 billion, a PE ratio of 29.62, a PEG ratio of 2.57 and a beta of 1.33.

Donaldson (NYSE:DCI) last issued its earnings results on Tuesday, June 1st. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.08. The firm had revenue of $765.00 million for the quarter, compared to analysts’ expectations of $707.59 million. Donaldson had a net margin of 9.88% and a return on equity of 25.96%. Donaldson’s revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the company posted $0.50 earnings per share. As a group, sell-side analysts forecast that Donaldson Company, Inc. will post 2.32 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Stockholders of record on Thursday, June 10th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Wednesday, June 9th. This is a boost from Donaldson’s previous quarterly dividend of $0.21. Donaldson’s payout ratio is 42.00%.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered Donaldson from a “buy” rating to a “hold” rating and set a $64.00 target price on the stock. in a research note on Tuesday, March 2nd. Robert W. Baird increased their target price on Donaldson from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, June 3rd. Finally, Morgan Stanley increased their price target on Donaldson from $73.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, June 3rd. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Donaldson currently has an average rating of “Buy” and a consensus price target of $70.00.

In related news, Director Michael J. Hoffman sold 14,400 shares of the firm’s stock in a transaction that occurred on Thursday, June 3rd. The shares were sold at an average price of $63.71, for a total transaction of $917,424.00. Following the transaction, the director now owns 78,415 shares in the company, valued at $4,995,819.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.18% of the stock is owned by company insiders.

Donaldson Profile

Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. It operates through two segments, Engine Products and Industrial Products. The Engine Products segment offers replacement filters for air and liquid filtration applications, air filtration systems, liquid filtration systems for fuel, lube and hydraulic applications, exhaust and emissions systems and sensors, indicators, and monitoring systems.

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Institutional Ownership by Quarter for Donaldson (NYSE:DCI)

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