Envestnet Asset Management Inc. Increases Stock Holdings in Donaldson Company, Inc. (NYSE:DCI)

Envestnet Asset Management Inc. raised its stake in Donaldson Company, Inc. (NYSE:DCI) by 20.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 244,228 shares of the industrial products company’s stock after purchasing an additional 40,819 shares during the period. Envestnet Asset Management Inc. owned 0.20% of Donaldson worth $16,378,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in Donaldson in the 4th quarter valued at $1,311,000. Raymond James Financial Inc. acquired a new stake in shares of Donaldson in the 4th quarter valued at approximately $13,865,000. Commonwealth Equity Services LLC grew its holdings in Donaldson by 5.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 37,032 shares of the industrial products company’s stock worth $2,494,000 after acquiring an additional 1,959 shares during the period. Twin Tree Management LP purchased a new position in Donaldson in the fourth quarter worth $415,000. Finally, Intech Investment Management LLC lifted its holdings in Donaldson by 157.4% in the fourth quarter. Intech Investment Management LLC now owns 9,381 shares of the industrial products company’s stock valued at $632,000 after acquiring an additional 5,736 shares during the period. 82.81% of the stock is currently owned by hedge funds and other institutional investors.

Donaldson Trading Up 1.2%

DCI stock opened at $70.80 on Friday. Donaldson Company, Inc. has a 52 week low of $57.45 and a 52 week high of $78.95. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.82 and a beta of 0.98. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $69.77 and a 200-day simple moving average of $68.32.

Donaldson (NYSE:DCI) last posted its quarterly earnings results on Tuesday, June 3rd. The industrial products company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. Donaldson had a net margin of 9.94% and a return on equity of 28.86%. The firm had revenue of $940.10 million for the quarter, compared to analyst estimates of $936.02 million. During the same quarter last year, the firm posted $0.92 earnings per share. Donaldson’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts expect that Donaldson Company, Inc. will post 3.64 EPS for the current year.

Donaldson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $0.30 dividend. The ex-dividend date was Monday, June 16th. This is an increase from Donaldson’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.69%. Donaldson’s dividend payout ratio is 40.27%.

Analyst Ratings Changes

A number of research firms recently weighed in on DCI. Wall Street Zen cut Donaldson from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Morgan Stanley reiterated an “underweight” rating and issued a $69.00 price target (up from $65.00) on shares of Donaldson in a research report on Friday, June 6th. Stifel Nicolaus reduced their target price on Donaldson from $70.00 to $63.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Finally, Robert W. Baird upped their price objective on Donaldson from $76.00 to $78.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th.

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.