Donaldson (NYSE:DCI) Sets New 52-Week High – Here’s What Happened

Shares of Donaldson Company, Inc. (NYSE:DCI) hit a new 52-week high during trading on Wednesday . The stock traded as high as $111.36 and last traded at $110.4550, with a volume of 32296 shares trading hands. The stock had previously closed at $109.57.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Robert W. Baird set a $110.00 target price on shares of Donaldson in a research report on Monday, February 2nd. Morgan Stanley raised shares of Donaldson from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $72.00 to $84.00 in a report on Monday, November 24th. Jefferies Financial Group boosted their target price on Donaldson to $123.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Stifel Nicolaus raised their price target on Donaldson from $90.00 to $96.00 and gave the company a “hold” rating in a report on Friday, December 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Donaldson in a research report on Friday, January 9th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Donaldson presently has a consensus rating of “Moderate Buy” and an average target price of $103.25.

Donaldson Price Performance

The company has a current ratio of 2.15, a quick ratio of 1.39 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $12.77 billion, a P/E ratio of 34.46, a PEG ratio of 2.70 and a beta of 1.00. The company has a fifty day simple moving average of $96.36 and a two-hundred day simple moving average of $86.40.

Donaldson (NYSE:DCI) last issued its quarterly earnings results on Wednesday, December 3rd. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.93 by $0.01. Donaldson had a net margin of 10.25% and a return on equity of 30.24%. The company had revenue of $935.40 million during the quarter, compared to analysts’ expectations of $922.68 million. During the same quarter in the previous year, the company earned $0.83 EPS. Donaldson’s revenue was up 3.9% on a year-over-year basis. Sell-side analysts expect that Donaldson Company, Inc. will post 3.64 EPS for the current fiscal year.

Donaldson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Thursday, February 12th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, February 12th. Donaldson’s dividend payout ratio is presently 37.38%.

Insider Buying and Selling at Donaldson

In other news, Director Ajita G. Rajendra sold 19,800 shares of Donaldson stock in a transaction on Friday, December 5th. The shares were sold at an average price of $92.04, for a total transaction of $1,822,392.00. Following the transaction, the director directly owned 43,993 shares of the company’s stock, valued at $4,049,115.72. This trade represents a 31.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Bradley J. Pogalz sold 566 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $91.57, for a total transaction of $51,828.62. Following the completion of the sale, the chief financial officer owned 434 shares of the company’s stock, valued at approximately $39,741.38. This represents a 56.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. William Blair Investment Management LLC boosted its stake in Donaldson by 26,235.7% in the 4th quarter. William Blair Investment Management LLC now owns 1,707,872 shares of the industrial products company’s stock worth $151,420,000 after purchasing an additional 1,701,387 shares during the period. Norges Bank acquired a new position in Donaldson during the 4th quarter worth approximately $120,186,000. Victory Capital Management Inc. grew its stake in shares of Donaldson by 6,069.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,178,884 shares of the industrial products company’s stock worth $96,492,000 after acquiring an additional 1,159,777 shares in the last quarter. Arbejdsmarkedets Tillaegspension acquired a new stake in shares of Donaldson in the fourth quarter valued at approximately $22,872,000. Finally, Boston Trust Walden Corp lifted its position in shares of Donaldson by 7.8% in the second quarter. Boston Trust Walden Corp now owns 2,825,916 shares of the industrial products company’s stock worth $195,977,000 after purchasing an additional 203,957 shares in the last quarter. Institutional investors own 82.81% of the company’s stock.

About Donaldson

Donaldson Company, Inc (NYSE: DCI) is a global provider of filtration systems and replacement parts for a wide range of industries. The company develops and manufactures air, liquid and gas filtration solutions for engine and industrial applications, helping customers improve performance, lower emissions and extend equipment life. Donaldson’s product portfolio includes engine air intake filters, fuel filters, hydraulic filters, compressor filters, dust collection systems and gas turbine air intake systems.

Serving markets such as agriculture, construction, mining, power generation, aerospace and original equipment manufacturing, Donaldson operates through two primary business segments: Engine Products and Industrial Products.