Donaldson (NYSE:DCI) Sets New 52-Week High Following Dividend Announcement

Donaldson Company, Inc. (NYSE:DCI)’s stock price hit a new 52-week high during trading on Monday after the company announced a dividend. The company traded as high as $78.82 and last traded at $78.73, with a volume of 69287 shares trading hands. The stock had previously closed at $77.45.

The newly announced dividend which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.38%. Donaldson’s dividend payout ratio (DPR) is 31.95%.

Analyst Ratings Changes

A number of brokerages recently commented on DCI. StockNews.com upgraded shares of Donaldson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 28th. Stifel Nicolaus reduced their price objective on Donaldson from $76.00 to $71.00 and set a “hold” rating on the stock in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Donaldson has an average rating of “Hold” and an average target price of $69.67.

Donaldson Price Performance

The company has a quick ratio of 1.23, a current ratio of 1.84 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average price is $74.57 and its 200-day moving average price is $73.33. The stock has a market cap of $9.35 billion, a P/E ratio of 23.09, a PEG ratio of 2.03 and a beta of 1.04.

Donaldson (NYSE:DCI) last announced its quarterly earnings results on Wednesday, August 28th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The business had revenue of $935.40 million for the quarter, compared to analyst estimates of $941.12 million. Donaldson had a net margin of 11.54% and a return on equity of 29.47%. Analysts forecast that Donaldson Company, Inc. will post 3.63 earnings per share for the current year.

Insider Transactions at Donaldson

In other Donaldson news, President Thomas R. Scalf sold 2,500 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $73.16, for a total transaction of $182,900.00. Following the transaction, the president now directly owns 28,334 shares of the company’s stock, valued at approximately $2,072,915.44. The trade was a 8.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott J. Robinson sold 83,600 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.04, for a total transaction of $6,189,744.00. Following the completion of the sale, the chief financial officer now directly owns 37,702 shares of the company’s stock, valued at approximately $2,791,456.08. This represents a 68.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 167,805 shares of company stock worth $12,310,222. Company insiders own 2.70% of the company’s stock.

Institutional Trading of Donaldson

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Donaldson by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,448,879 shares of the industrial products company’s stock valued at $180,522,000 after buying an additional 118,156 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Donaldson by 1.8% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,884,187 shares of the industrial products company’s stock worth $134,832,000 after acquiring an additional 32,964 shares in the last quarter. American Century Companies Inc. grew its holdings in Donaldson by 4.7% in the second quarter. American Century Companies Inc. now owns 1,691,903 shares of the industrial products company’s stock worth $121,073,000 after purchasing an additional 75,733 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Donaldson by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,310,372 shares of the industrial products company’s stock valued at $93,770,000 after purchasing an additional 153,342 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Donaldson by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 1,285,130 shares of the industrial products company’s stock valued at $91,964,000 after purchasing an additional 9,143 shares during the last quarter. 82.81% of the stock is owned by institutional investors.

About Donaldson

Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. The company operates through three segments: Mobile Solutions, Industrial Solutions, and Life Sciences. Its Mobile Solutions segment provides replacement filters for air and liquid filtration applications, such as air filtration systems; liquid filtration systems for fuel, lube, and hydraulic applications; exhaust and emissions systems and sensors; indicators; and monitoring systems.