Donaldson Company, Inc. (NYSE:DCI) announced a quarterly dividend on Friday, July 28th, RTT News reports. Stockholders of record on Tuesday, August 15th will be paid a dividend of 0.18 per share by the industrial products company on Thursday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, August 11th. This is a boost from Donaldson’s previous quarterly dividend of $0.18.
Donaldson has raised its dividend by an average of 11.6% per year over the last three years and has raised its dividend annually for the last 32 consecutive years. Donaldson has a dividend payout ratio of 42.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Donaldson to earn $1.90 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 37.9%.
Shares of Donaldson (NYSE DCI) opened at 47.04 on Thursday. The stock’s 50 day moving average is $46.43 and its 200 day moving average is $45.33. Donaldson has a 12 month low of $35.52 and a 12 month high of $48.91. The company has a market capitalization of $6.17 billion, a P/E ratio of 28.00 and a beta of 1.22.
Donaldson (NYSE:DCI) last posted its quarterly earnings data on Thursday, June 1st. The industrial products company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. The company had revenue of $608.20 million during the quarter, compared to analysts’ expectations of $580.44 million. Donaldson had a net margin of 9.72% and a return on equity of 28.12%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. On average, equities analysts predict that Donaldson will post ($0.38) EPS for the current fiscal year.
DCI has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Donaldson from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, May 31st. Jefferies Group LLC upgraded shares of Donaldson from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Wednesday, May 31st. BidaskClub upgraded shares of Donaldson from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Stifel Nicolaus restated a “hold” rating and set a $48.00 price objective (up from $45.00) on shares of Donaldson in a research report on Friday, June 2nd. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Donaldson in a research report on Thursday, June 1st. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.25.
In other news, Director John Wiehoff sold 14,400 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $46.33, for a total transaction of $667,152.00. Following the completion of the sale, the director now owns 59,001 shares of the company’s stock, valued at $2,733,516.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is owned by corporate insiders.
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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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