William Blair Investment Management LLC bought a new position in Donaldson Company, Inc. (NYSE:DCI – Free Report) during the second quarter, Holdings Channel.com reports. The fund bought 34,964 shares of the industrial products company’s stock, valued at approximately $3,139,000.
A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Donaldson in the second quarter worth approximately $1,072,012,000. Pictet Asset Management Holding SA increased its holdings in shares of Donaldson by 10,438.1% in the first quarter. Pictet Asset Management Holding SA now owns 1,801,481 shares of the industrial products company’s stock valued at $152,873,000 after buying an additional 1,784,386 shares in the last quarter. Norges Bank acquired a new stake in shares of Donaldson during the 4th quarter valued at $120,186,000. Bank of New York Mellon Corp acquired a new position in shares of Donaldson in the 2nd quarter worth $95,542,000. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in shares of Donaldson by 22.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,109,595 shares of the industrial products company’s stock worth $187,037,000 after acquiring an additional 380,419 shares during the last quarter. 82.81% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. Weiss Ratings raised Donaldson from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday. Wall Street Zen raised Donaldson from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. Stifel Nicolaus cut their price objective on Donaldson from $96.00 to $91.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Robert W. Baird upped their price objective on shares of Donaldson from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Finally, Wells Fargo & Company set a $91.00 target price on shares of Donaldson in a report on Thursday, June 4th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Donaldson presently has a consensus rating of “Moderate Buy” and an average price target of $99.50.
Donaldson Price Performance
Shares of NYSE:DCI opened at $93.19 on Monday. The company’s fifty day moving average is $91.30 and its two-hundred day moving average is $90.70. The company has a market cap of $10.80 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 2.13 and a beta of 0.92. Donaldson Company, Inc. has a 12-month low of $73.88 and a 12-month high of $112.84. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.35.
Donaldson (NYSE:DCI – Get Free Report) last issued its earnings results on Monday, June 1st. The industrial products company reported $1.06 EPS for the quarter, topping the consensus estimate of $1.05 by $0.01. Donaldson had a return on equity of 29.17% and a net margin of 11.52%.The business had revenue of $995.10 million during the quarter, compared to analysts’ expectations of $973.65 million. During the same quarter last year, the firm posted $0.99 earnings per share. Donaldson’s revenue was up 5.9% compared to the same quarter last year. Equities analysts expect that Donaldson Company, Inc. will post 3.96 earnings per share for the current fiscal year.
Donaldson Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a dividend of $0.32 per share. The ex-dividend date is Monday, August 17th. This represents a $1.28 dividend on an annualized basis and a yield of 1.4%. Donaldson’s dividend payout ratio (DPR) is presently 34.41%.
About Donaldson
Donaldson Company, Inc (NYSE: DCI) is a global provider of filtration systems and replacement parts for a wide range of industries. The company develops and manufactures air, liquid and gas filtration solutions for engine and industrial applications, helping customers improve performance, lower emissions and extend equipment life. Donaldson’s product portfolio includes engine air intake filters, fuel filters, hydraulic filters, compressor filters, dust collection systems and gas turbine air intake systems.
Serving markets such as agriculture, construction, mining, power generation, aerospace and original equipment manufacturing, Donaldson operates through two primary business segments: Engine Products and Industrial Products.
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