Northwestern Mutual Investment Management Company LLC lessened its stake in shares of Donaldson Company, Inc. (NYSE:DCI) by 6.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,344 shares of the industrial products company’s stock after selling 1,414 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Donaldson were worth $733,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Autus Asset Management LLC boosted its stake in Donaldson by 0.8% during the second quarter. Autus Asset Management LLC now owns 186,937 shares of the industrial products company’s stock worth $8,513,000 after buying an additional 1,472 shares during the period. JPMorgan Chase & Co. boosted its stake in Donaldson by 220.7% during the second quarter. JPMorgan Chase & Co. now owns 32,021 shares of the industrial products company’s stock worth $1,458,000 after buying an additional 22,036 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Donaldson during the second quarter worth about $209,000. Swiss National Bank boosted its stake in Donaldson by 0.9% during the second quarter. Swiss National Bank now owns 209,700 shares of the industrial products company’s stock worth $9,550,000 after buying an additional 1,800 shares during the period. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in Donaldson by 69.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,713 shares of the industrial products company’s stock worth $215,000 after buying an additional 1,937 shares during the period. 77.91% of the stock is owned by institutional investors.
In other news, Director Michael J. Hoffman sold 14,400 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $46.84, for a total transaction of $674,496.00. Following the completion of the sale, the director now owns 41,473 shares in the company, valued at approximately $1,942,595.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is currently owned by insiders.
Several research analysts have weighed in on the stock. BidaskClub lowered shares of Donaldson from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of Donaldson from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Friday, June 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $48.00 target price (up previously from $45.00) on shares of Donaldson in a research note on Friday, June 2nd. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Donaldson in a research note on Thursday, June 1st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $49.50.
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Shares of Donaldson Company, Inc. (DCI) opened at 43.43 on Friday. The stock’s 50 day moving average is $46.77 and its 200 day moving average is $45.93. Donaldson Company, Inc. has a 12 month low of $35.80 and a 12 month high of $48.91. The firm has a market cap of $5.69 billion, a PE ratio of 25.85 and a beta of 1.21.
Donaldson (NYSE:DCI) last issued its earnings results on Thursday, September 7th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.02. Donaldson had a return on equity of 28.14% and a net margin of 9.81%. The firm had revenue of $660.10 million for the quarter, compared to analysts’ expectations of $634.41 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, analysts anticipate that Donaldson Company, Inc. will post ($0.38) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, August 11th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.66%. This is a boost from Donaldson’s previous quarterly dividend of $0.18. Donaldson’s payout ratio is presently 41.38%.
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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