Heartland Advisors Inc. Cuts Holdings in Donaldson Company, Inc. $DCI

Heartland Advisors Inc. cut its stake in Donaldson Company, Inc. (NYSE:DCI) by 20.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 203,469 shares of the industrial products company’s stock after selling 53,246 shares during the quarter. Donaldson comprises about 0.9% of Heartland Advisors Inc.’s portfolio, making the stock its 28th biggest position. Heartland Advisors Inc. owned approximately 0.18% of Donaldson worth $16,654,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Donaldson during the second quarter worth $68,759,000. Millennium Management LLC lifted its holdings in shares of Donaldson by 428.6% during the first quarter. Millennium Management LLC now owns 223,976 shares of the industrial products company’s stock worth $15,020,000 after purchasing an additional 181,602 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Donaldson by 137.7% in the 2nd quarter. Quantinno Capital Management LP now owns 246,419 shares of the industrial products company’s stock valued at $17,089,000 after acquiring an additional 142,750 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Donaldson by 10.6% in the third quarter. Bank of New York Mellon Corp now owns 1,283,326 shares of the industrial products company’s stock worth $105,040,000 after acquiring an additional 123,000 shares during the period. Finally, Edgestream Partners L.P. increased its stake in shares of Donaldson by 579.7% in the second quarter. Edgestream Partners L.P. now owns 135,984 shares of the industrial products company’s stock worth $9,430,000 after acquiring an additional 115,977 shares during the period. Institutional investors own 82.81% of the company’s stock.

Insiders Place Their Bets

In other Donaldson news, Director Ajita G. Rajendra sold 19,800 shares of the stock in a transaction dated 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 completion of the transaction, the director 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 filing with the SEC, which is available through the SEC website. Also, CFO Bradley J. Pogalz sold 566 shares of the business’s stock in a transaction that occurred 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 directly owned 434 shares in the company, valued at $39,741.38. This trade represents a 56.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.20% of the stock is owned by insiders.

Donaldson Stock Down 0.5%

Shares of DCI opened at $109.38 on Tuesday. Donaldson Company, Inc. has a 52-week low of $57.45 and a 52-week high of $112.84. The company has a quick ratio of 1.39, a current ratio of 2.15 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $97.83 and a two-hundred day simple moving average of $87.46. The company has a market capitalization of $12.62 billion, a PE ratio of 34.08, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00.

Donaldson (NYSE:DCI) last announced its quarterly earnings data on Wednesday, December 3rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. Donaldson had a net margin of 10.25% and a return on equity of 30.24%. The firm had revenue of $935.40 million during the quarter, compared to analyst estimates of $922.68 million. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Donaldson’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities analysts forecast that Donaldson Company, Inc. will post 3.64 EPS for the current year.

Donaldson Dividend Announcement

The firm 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 dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $1.20 annualized dividend and a yield of 1.1%. Donaldson’s dividend payout ratio (DPR) is 37.38%.

Analyst Upgrades and Downgrades

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

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.