Donaldson (NYSE:DCI) Reaches New 12-Month High Following Dividend Announcement

Donaldson Company, Inc. (NYSE:DCI) shares reached a new 52-week high on Monday after the company announced a dividend. The stock traded as high as $89.09 and last traded at $88.8330, with a volume of 88494 shares trading hands. The stock had previously closed at $87.68.

The newly announced dividend which will be paid on Monday, December 22nd. Stockholders of record on Friday, December 5th will be given a $0.30 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. Donaldson’s payout ratio is 39.34%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Donaldson in a research report on Tuesday, October 14th. Robert W. Baird lifted their price objective on Donaldson from $78.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Stifel Nicolaus boosted their price objective on Donaldson from $84.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday. Wall Street Zen upgraded Donaldson from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Finally, Morgan Stanley upgraded Donaldson from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $72.00 to $84.00 in a research report on Monday. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.33.

Donaldson Stock Performance

The stock has a 50-day moving average of $83.46 and a 200 day moving average of $76.26. The stock has a market cap of $10.28 billion, a PE ratio of 29.09, a P/E/G ratio of 1.98 and a beta of 1.01. The company has a quick ratio of 1.25, a current ratio of 1.93 and a debt-to-equity ratio of 0.43.

Donaldson (NYSE:DCI) last issued its earnings results on Tuesday, February 28th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter. Donaldson had a return on equity of 29.50% and a net margin of 9.94%.The company had revenue of $802.50 million during the quarter. Equities analysts predict that Donaldson Company, Inc. will post 3.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Guillermo Briseno sold 13,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $79.03, for a total value of $1,066,905.00. Following the transaction, the president directly owned 25,309 shares in the company, valued at approximately $2,000,170.27. This represents a 34.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Amy C. Becker sold 18,500 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $81.71, for a total value of $1,511,635.00. Following the completion of the transaction, the insider owned 44,645 shares of the company’s stock, valued at $3,647,942.95. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 63,900 shares of company stock valued at $5,129,264 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Donaldson

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Focus Partners Wealth lifted its holdings in shares of Donaldson by 314.0% in the 1st quarter. Focus Partners Wealth now owns 57,028 shares of the industrial products company’s stock worth $3,824,000 after acquiring an additional 43,254 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new stake in Donaldson in the first quarter valued at approximately $4,849,000. Deutsche Bank AG boosted its position in shares of Donaldson by 112.6% during the first quarter. Deutsche Bank AG now owns 27,570 shares of the industrial products company’s stock worth $1,849,000 after buying an additional 14,603 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Donaldson during the second quarter worth $403,000. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Donaldson by 6.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 668,399 shares of the industrial products company’s stock valued at $44,823,000 after buying an additional 41,623 shares in the last quarter. Hedge funds and other institutional investors own 82.81% 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.