Wesbanco Bank Inc. Acquires New Shares in Donaldson Company, Inc. (NYSE:DCI)

Wesbanco Bank Inc. bought a new position in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,922 shares of the industrial products company's stock, valued at approximately $263,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Argent Trust Co grew its position in Donaldson by 3.3% during the 4th quarter. Argent Trust Co now owns 4,739 shares of the industrial products company's stock worth $319,000 after purchasing an additional 152 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Donaldson by 43.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 597 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 180 shares during the period. CIBC Asset Management Inc boosted its position in Donaldson by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 3,738 shares of the industrial products company's stock worth $252,000 after purchasing an additional 187 shares in the last quarter. Johnson Financial Group Inc. grew its stake in Donaldson by 48.8% in the 4th quarter. Johnson Financial Group Inc. now owns 595 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 195 shares during the last quarter. Finally, Truist Financial Corp grew its position in shares of Donaldson by 4.9% in the fourth quarter. Truist Financial Corp now owns 6,199 shares of the industrial products company's stock valued at $417,000 after purchasing an additional 290 shares during the last quarter. 82.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 transaction of $1,159,774.00. Following the sale, the director now owns 20,246 shares in the company, valued at $1,255,656.92. The trade was a 48.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Thomas R. Scalf sold 28,500 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $69.22, for a total value of $1,972,770.00. Following the completion of the sale, the president now directly owns 28,334 shares of the company's stock, valued at approximately $1,961,279.48. This represents 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.

Donaldson Stock Performance

Shares of NYSE:DCI traded down $1.01 during trading on Friday, hitting $68.61. 623,838 shares of the company traded hands, compared to its average volume of 562,566. Donaldson Company, Inc. has a one year low of $57.45 and a one year high of $78.95. The company has a quick ratio of 1.20, a current ratio of 1.85 and a debt-to-equity ratio of 0.35. The business's fifty day moving average is $67.11 and its 200-day moving average is $68.55. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 1.82 and a beta of 0.99.

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 for the quarter, beating the consensus estimate of $0.95 by $0.04. The firm 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 29.07% and a net margin of 11.56%. The firm's revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 EPS. As a group, equities analysts predict that Donaldson Company, Inc. will post 3.64 earnings per share for the current fiscal year.

Donaldson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.75%. This is an increase from Donaldson's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, June 16th. Donaldson's dividend payout ratio is 40.27%.

Wall Street Analyst Weigh In

DCI has been the topic of a number of recent research reports. Robert W. Baird upped their target price on shares of Donaldson from $76.00 to $78.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Morgan Stanley reissued an "underweight" rating and issued a $69.00 target price (up previously from $65.00) on shares of Donaldson in a research note on Friday, June 6th. Stifel Nicolaus lowered their price objective on shares of Donaldson from $70.00 to $63.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Finally, Wall Street Zen cut Donaldson from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Donaldson presently has an average rating of "Hold" and a consensus price target of $70.00.

Donaldson 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.