Donaldson Company, Inc. (NYSE:DCI) to Issue $0.30 Quarterly Dividend

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. Shareholders 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 dividend yield of 1.67%.

Donaldson has a payout ratio of 28.1% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Up 0.8%

DCI traded up $0.56 during midday trading on Friday, reaching $71.83. The company's stock had a trading volume of 530,507 shares, compared to its average volume of 587,866. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 1.86 and a beta of 0.98. The stock's 50-day moving average is $69.90 and its 200-day moving average is $68.43. Donaldson has a 1 year low of $57.45 and a 1 year high of $78.95.

Donaldson (NYSE:DCI - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The industrial products company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $940.10 million for the quarter, compared to the consensus estimate of $936.02 million. Donaldson had a return on equity of 28.86% and a net margin of 9.94%. The firm's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 EPS. As a group, research analysts expect that Donaldson will post 3.64 EPS for the current year.

Institutional Investors Weigh In On Donaldson

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in shares of 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 purchasing an additional 28,207 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Donaldson by 16.5% during the first quarter. Integrated Wealth Concepts LLC now owns 3,479 shares of the industrial products company's stock valued at $233,000 after buying an additional 494 shares during the last quarter. Millennium Management LLC grew its stake in shares of Donaldson by 428.6% during the first quarter. Millennium Management LLC now owns 223,976 shares of the industrial products company's stock valued at $15,020,000 after buying an additional 181,602 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Donaldson by 29.0% in the first quarter. Goldman Sachs Group Inc. now owns 279,525 shares of the industrial products company's stock valued at $18,745,000 after purchasing an additional 62,864 shares during the period. 82.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.

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