California State Teachers Retirement System Raises Stock Holdings in Donaldson Company, Inc. $DCI

Key Points

• California State Teachers Retirement System increased its Donaldson holdings by 20.7% in the first quarter, adding 22,680 shares to own 132,083 shares valued at approximately $11.21 million. Institutional investors collectively own 82.81% of the company.
• Donaldson reported quarterly earnings of $1.06 per share, slightly above estimates, while revenue rose 5.9% year over year to $995.1 million. Shares opened at $96.21, near the analyst consensus target of $97.83.
• The company declared a quarterly dividend of $0.32 per share, equivalent to $1.28 annually and a 1.3% yield. Analysts currently assign Donaldson a “Moderate Buy” consensus rating, though some recently lowered their price targets or downgraded the stock to “Hold.”

California State Teachers Retirement System increased its holdings in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) by 20.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 132,083 shares of the industrial products company's stock after acquiring an additional 22,680 shares during the quarter. California State Teachers Retirement System owned approximately 0.11% of Donaldson worth $11,210,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Donaldson by 3,094.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 44,377 shares of the industrial products company's stock worth $3,934,000 after buying an additional 42,988 shares during the last quarter. Artemis Investment Management LLP purchased a new position in shares of Donaldson during the 4th quarter valued at $1,494,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Donaldson during the 4th quarter worth $17,105,000. Swedbank AB increased its holdings in Donaldson by 2.6% in the 4th quarter. Swedbank AB now owns 528,100 shares of the industrial products company's stock worth $46,821,000 after acquiring an additional 13,300 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Donaldson in the 4th quarter worth about $2,004,000. Hedge funds and other institutional investors own 82.81% of the company's stock.

Donaldson Trading Up 2.1%

Shares of Donaldson stock opened at $96.21 on Tuesday. The company's 50-day moving average price is $88.07 and its 200-day moving average price is $91.23. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.35. Donaldson Company, Inc. has a 12-month low of $71.03 and a 12-month high of $112.84. The company has a market cap of $11.15 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 2.38 and a beta of 0.92.

Donaldson (NYSE:DCI - Get Free Report) last issued its quarterly earnings data on Monday, June 1st. The industrial products company reported $1.06 EPS for the quarter, beating the consensus estimate of $1.05 by $0.01. The company had revenue of $995.10 million during the quarter, compared to analysts' expectations of $973.65 million. Donaldson had a net margin of 11.52% and a return on equity of 29.17%. Donaldson's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.99 earnings per share. On average, equities analysts expect that Donaldson Company, Inc. will post 3.96 earnings per share for the current fiscal year.

Donaldson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, August 17th. Donaldson's payout ratio is 34.41%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DCI. Stifel Nicolaus lowered their price objective on Donaldson from $96.00 to $91.00 and set a "hold" rating on the stock in a research note on Thursday, June 4th. Weiss Ratings upgraded shares of Donaldson from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, June 3rd. Wall Street Zen lowered shares of Donaldson from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Wells Fargo & Company set a $91.00 price target on shares of Donaldson in a research note on Thursday, June 4th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Donaldson presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.83.

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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