Donaldson Company, Inc. to Issue Quarterly Dividend of $0.32 (NYSE:DCI)

Key Points

• Donaldson declared a quarterly dividend of $0.32 per share, payable August 31 to shareholders of record on August 17. The dividend is annualized at $1.28 per share and yields approximately 1.3%.
• The company has raised its dividend for 38 consecutive years, with a current payout ratio of 33.3%; expected earnings suggest the dividend remains well covered.
• Donaldson recently exceeded quarterly expectations, reporting $1.06 in earnings per share and $995.1 million in revenue, with revenue up 5.9% year over year.

Donaldson Company, Inc. (NYSE:DCI - Get Free Report) announced a quarterly dividend on Friday, July 31st. Investors of record on Monday, August 17th will be given a dividend of 0.32 per share by the industrial products company on Monday, August 31st. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, August 17th.

Donaldson has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 38 consecutive years. Donaldson has a payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Donaldson to earn $4.37 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 29.3%.

Donaldson Stock Performance

Shares of DCI stock opened at $96.03 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $90.47 and a two-hundred day simple moving average of $91.06. Donaldson has a 12 month low of $72.95 and a 12 month high of $112.84. The firm has a market capitalization of $11.13 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 2.19 and a beta of 0.92.

Donaldson (NYSE:DCI - Get Free Report) last released its quarterly earnings data on Monday, June 1st. The industrial products company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.01. The firm had revenue of $995.10 million for the quarter, compared to analyst estimates of $973.65 million. Donaldson had a net margin of 11.52% and a return on equity of 29.17%. The business's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the firm earned $0.99 earnings per share. Analysts forecast that Donaldson will post 3.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Donaldson

Several institutional investors have recently added to or reduced their stakes in DCI. Freestone Grove Partners LP purchased a new position in shares of Donaldson in the second quarter worth about $4,715,000. Caisse de depot et placement du Quebec purchased a new stake in shares of Donaldson during the 2nd quarter valued at approximately $9,385,000. Gallagher Fiduciary Advisors LLC bought a new position in Donaldson in the 2nd quarter worth approximately $642,000. Man Group plc purchased a new position in Donaldson in the 2nd quarter valued at approximately $3,069,000. Finally, Roberts Glore & Co. Inc. IL purchased a new position in Donaldson in the 2nd quarter valued at approximately $449,000. 82.81% of the stock is owned by hedge funds and other institutional investors.

About Donaldson

Donaldson Company, Inc NYSE: DCI is a global provider of filtration systems and replacement parts for a wide range of industries. The company develops and manufactures air, liquid and gas filtration solutions for engine and industrial applications, helping customers improve performance, lower emissions and extend equipment life. Donaldson's product portfolio includes engine air intake filters, fuel filters, hydraulic filters, compressor filters, dust collection systems and gas turbine air intake systems.

Serving markets such as agriculture, construction, mining, power generation, aerospace and original equipment manufacturing, Donaldson operates through two primary business segments: Engine Products and Industrial Products.

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