Confluence Investment Management LLC Reduces Position in Donaldson Company, Inc. $DCI

Key Points

• Confluence Investment Management reduced its Donaldson position by 6.9% in the second quarter, selling 18,431 shares and retaining 247,292 shares valued at approximately $22.2 million. Institutional investors collectively own 82.81% of DCI.
• Donaldson reported quarterly EPS of $1.06, slightly exceeding estimates, while revenue rose 5.9% year over year to $995.1 million. The company declared a quarterly dividend of $0.32, equivalent to an annualized yield of about 1.3%.
• Analyst sentiment remains a “Moderate Buy”, with three Buy ratings and two Holds and an average price target of $97.83; DCI recently traded at $96.21.

Confluence Investment Management LLC decreased its holdings in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) by 6.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 247,292 shares of the industrial products company's stock after selling 18,431 shares during the period. Confluence Investment Management LLC owned about 0.21% of Donaldson worth $22,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of DCI. Pacer Advisors Inc. lifted its position in Donaldson by 27.7% during the first quarter. Pacer Advisors Inc. now owns 17,535 shares of the industrial products company's stock valued at $1,488,000 after purchasing an additional 3,807 shares in the last quarter. First Nebraska Trust Co purchased a new stake in Donaldson in the first quarter worth about $6,918,000. Bank of America Corp DE increased its position in Donaldson by 41.2% in the first quarter. Bank of America Corp DE now owns 442,180 shares of the industrial products company's stock worth $37,528,000 after buying an additional 128,913 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Donaldson in the first quarter worth about $1,947,000. Finally, Amundi raised its stake in shares of Donaldson by 16.5% in the first quarter. Amundi now owns 6,377 shares of the industrial products company's stock worth $541,000 after buying an additional 905 shares during the period. 82.81% of the stock is owned by institutional investors.

Donaldson Stock Up 2.1%

DCI opened at $96.21 on Tuesday. The company has a market capitalization of $11.15 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 2.38 and a beta of 0.92. The firm has a 50-day simple moving average of $88.07 and a two-hundred day simple moving average of $91.23. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.35. Donaldson Company, Inc. has a 52 week low of $71.03 and a 52 week high of $112.84.

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

Donaldson Dividend Announcement

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

Wall Street Analyst Weigh In

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

Donaldson Company Profile

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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