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

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

The newly announced dividend which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.37%. Donaldson’s dividend payout ratio is currently 31.95%.

Wall Street Analysts Forecast Growth

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

Donaldson Stock Performance

The business has a 50 day moving average of $74.43 and a 200-day moving average of $73.31. The company has a market capitalization of $9.43 billion, a P/E ratio of 22.91, a price-to-earnings-growth ratio of 2.03 and a beta of 1.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.23 and a current ratio of 1.84.

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 firm had revenue of $935.40 million for the quarter, compared to the consensus estimate of $941.12 million. Donaldson had a net margin of 11.54% and a return on equity of 29.47%. On average, sell-side analysts predict that Donaldson Company, Inc. will post 3.63 EPS for the current fiscal year.

Insider Buying and Selling at Donaldson

In other Donaldson news, CEO Tod E. Carpenter sold 24,081 shares of Donaldson stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $72.52, for a total transaction of $1,746,354.12. Following the completion of the sale, the chief executive officer now directly owns 256,742 shares in the company, valued at $18,618,929.84. The trade was a 8.58 % 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, Director James Owens sold 5,210 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $71.74, for a total transaction of $373,765.40. Following the completion of the transaction, the director now directly owns 17,788 shares of the company’s stock, valued at approximately $1,276,111.12. This represents a 22.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 167,805 shares of company stock valued at $12,310,222 in the last three months. Company insiders own 2.70% of the company’s stock.

Institutional Trading of Donaldson

Hedge funds have recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado purchased a new stake in shares of Donaldson in the 1st quarter valued at $660,000. New York State Teachers Retirement System increased its holdings in shares of Donaldson by 2.6% in the second quarter. New York State Teachers Retirement System now owns 147,777 shares of the industrial products company’s stock worth $10,575,000 after buying an additional 3,792 shares during the period. Arizona State Retirement System boosted its holdings in Donaldson by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 33,697 shares of the industrial products company’s stock valued at $2,411,000 after acquiring an additional 681 shares during the period. Savant Capital LLC grew its position in Donaldson by 46.2% during the 2nd quarter. Savant Capital LLC now owns 13,674 shares of the industrial products company’s stock worth $979,000 after acquiring an additional 4,320 shares during the last quarter. Finally, Algert Global LLC grew its position in Donaldson by 1,554.0% during the 2nd quarter. Algert Global LLC now owns 146,346 shares of the industrial products company’s stock worth $10,473,000 after acquiring an additional 137,498 shares during the last quarter. 82.81% of the stock is owned by institutional investors.

Donaldson Company Profile

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.