Donaldson Company, Inc. Announces Quarterly Dividend of $0.27 (NYSE:DCI)

Donaldson Company, Inc. (NYSE:DCI) declared a quarterly dividend on Monday, July 29th, Wall Street Journal reports. Shareholders of record on Tuesday, August 13th will be paid a dividend of 0.27 per share by the industrial products company on Wednesday, August 28th. This represents a $1.08 annualized dividend and a yield of 1.45%. The ex-dividend date is Tuesday, August 13th.

Donaldson has increased its dividend payment by an average of 5.3% annually over the last three years and has raised its dividend annually for the last 38 consecutive years. Donaldson has a dividend payout ratio of 29.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Donaldson to earn $3.70 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 29.2%.

Donaldson Price Performance

Shares of DCI stock traded up $0.34 during midday trading on Monday, reaching $74.63. 321,906 shares of the company traded hands, compared to its average volume of 487,048. The firm’s 50 day simple moving average is $72.75 and its two-hundred day simple moving average is $71.29. The firm has a market cap of $8.99 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 2.10 and a beta of 1.05. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.30. Donaldson has a 1-year low of $57.05 and a 1-year high of $78.03.

Donaldson (NYSE:DCI) last posted its earnings results on Tuesday, June 4th. The industrial products company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. Donaldson had a return on equity of 29.00% and a net margin of 11.22%. The company had revenue of $927.90 million for the quarter, compared to the consensus estimate of $915.84 million. During the same period in the previous year, the business earned $0.76 earnings per share. Donaldson’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts expect that Donaldson will post 3.37 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on DCI. Robert W. Baird cut their target price on shares of Donaldson from $80.00 to $79.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Raymond James started coverage on Donaldson in a research report on Friday, June 28th. They set a “market perform” rating for the company. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.67.

Insider Activity

In other news, CFO Scott J. Robinson sold 37,600 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $70.97, for a total transaction of $2,668,472.00. Following the completion of the transaction, the chief financial officer now owns 37,702 shares of the company’s stock, valued at approximately $2,675,710.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.58% of the company’s stock.

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.