Donaldson Company, Inc. Plans Quarterly Dividend of $0.30 (NYSE:DCI)

Key Points

• Donaldson Company, Inc. has declared a quarterly dividend of $0.30 per share, with a record date of August 12 and payment date of August 27, representing an annualized dividend of $1.20 and a yield of 1.67%.
• The company's payout ratio is 28.1%, indicating that its dividend is well-covered by earnings, and analysts project earnings per share of $3.99 for the upcoming year.
• Donaldson's stock price increased by 0.8% to $71.83 during midday trading, with a market capitalization of $8.37 billion and a price-to-earnings ratio of 24.10.

Donaldson Company, Inc. (NYSE:DCI - Get Free Report) declared a quarterly dividend on Friday, July 25th, RTT News reports. Investors of record on Tuesday, August 12th will be given a dividend of 0.30 per share by the industrial products company on Wednesday, August 27th. This represents a $1.20 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Tuesday, August 12th.

Donaldson has a payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 0.1%

Shares of NYSE:DCI traded up $0.08 on Tuesday, reaching $72.11. 502,686 shares of the company traded hands, compared to its average volume of 460,627. The business's 50-day simple moving average is $69.97 and its 200 day simple moving average is $68.54. Donaldson has a 52 week low of $57.45 and a 52 week high of $78.95. The stock has a market capitalization of $8.40 billion, a P/E ratio of 24.20, a price-to-earnings-growth ratio of 1.87 and a beta of 0.98. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 0.44.

Donaldson (NYSE:DCI - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. Donaldson had a return on equity of 28.86% and a net margin of 9.94%. The firm had revenue of $940.10 million for the quarter, compared to analysts' expectations of $936.02 million. During the same period last year, the firm earned $0.92 earnings per share. The company's revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities analysts anticipate that Donaldson will post 3.64 EPS for the current fiscal year.

Institutional Trading of Donaldson

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

Analyst Upgrades and Downgrades

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

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.