Donaldson Company, Inc. (NYSE:DCI) Declares Dividend Increase - $0.30 Per Share

Donaldson Company, Inc. (NYSE:DCI - Get Free Report) declared a quarterly dividend on Friday, May 30th, RTT News reports. Stockholders of record on Monday, June 16th will be given a dividend of 0.30 per share by the industrial products company on Monday, June 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Monday, June 16th. This is a 11.1% increase from Donaldson's previous quarterly dividend of $0.27.

Donaldson has increased its dividend by an average of 6.8% annually over the last three years and has raised its dividend every year for the last 38 years. Donaldson has a dividend payout ratio of 28.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Donaldson to earn $3.99 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 27.1%.

Donaldson Price Performance

Donaldson stock traded up $0.09 during mid-day trading on Tuesday, hitting $69.26. 1,113,800 shares of the company traded hands, compared to its average volume of 568,369. Donaldson has a one year low of $57.45 and a one year high of $78.95. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 1.82 and a beta of 1.01. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 1.85. The stock has a fifty day moving average price of $66.19 and a 200-day moving average price of $68.93.

Donaldson (NYSE:DCI - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. Donaldson had a net margin of 11.56% and a return on equity of 29.07%. The business had revenue of $940.10 million during the quarter, compared to analyst estimates of $936.02 million. During the same period in the previous year, the business posted $0.92 earnings per share. Donaldson's revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities analysts predict that Donaldson will post 3.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DCI has been the topic of several recent research reports. Stifel Nicolaus reduced their price objective on Donaldson from $70.00 to $63.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Wall Street Zen lowered shares of Donaldson from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $71.33.

Insider Transactions at Donaldson

In other news, Director James Owens sold 18,700 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $62.02, for a total value of $1,159,774.00. Following the completion of the sale, the director now directly owns 20,246 shares in the company, valued at approximately $1,255,656.92. The trade was a 48.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Thomas R. Scalf sold 28,500 shares of Donaldson stock in a transaction on Monday, March 17th. The stock was sold at an average price of $69.22, for a total transaction of $1,972,770.00. Following the completion of the transaction, the president now directly owns 28,334 shares in the company, valued at approximately $1,961,279.48. The trade was a 50.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On Donaldson

Several hedge funds and other institutional investors have recently bought and sold shares of DCI. Integrated Wealth Concepts LLC lifted its stake in shares of Donaldson by 16.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,479 shares of the industrial products company's stock worth $233,000 after purchasing an additional 494 shares during the period. Royal Bank of Canada lifted its stake in shares of Donaldson by 38.2% in the 1st quarter. Royal Bank of Canada now owns 102,128 shares of the industrial products company's stock worth $6,848,000 after purchasing an additional 28,207 shares during the period. Millennium Management LLC lifted its stake in shares of Donaldson by 428.6% in the 1st quarter. Millennium Management LLC now owns 223,976 shares of the industrial products company's stock worth $15,020,000 after purchasing an additional 181,602 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Donaldson by 29.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 279,525 shares of the industrial products company's stock worth $18,745,000 after purchasing an additional 62,864 shares during the period. Institutional investors own 82.81% of the company's stock.

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.