Confluence Investment Management LLC Sells 26,300 Shares of Donaldson Company, Inc. $DCI

Key Points

• Confluence Investment Management reduced its Donaldson Company stake by 10.6%, selling 26,300 shares and retaining 220,992 shares valued at approximately $19.2 million. Institutional investors collectively own 82.81% of the company.
• Donaldson reported quarterly adjusted earnings of $1.15 per share and revenue of $1.06 billion, exceeding analyst estimates; revenue increased 8% year over year.
• The company pays a quarterly dividend of $0.32, equivalent to a 1.5% yield, while analysts maintain a “Moderate Buy” consensus with an average price target of $101.67.

Confluence Investment Management LLC cut its holdings in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) by 10.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 220,992 shares of the industrial products company's stock after selling 26,300 shares during the period. Confluence Investment Management LLC owned approximately 0.19% of Donaldson worth $19,235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of DCI. Allworth Financial LP bought a new position in shares of Donaldson during the 2nd quarter valued at about $29,000. Trust Co. of Vermont bought a new position in Donaldson in the second quarter valued at approximately $31,000. Clearstead Advisors LLC lifted its stake in Donaldson by 92.6% in the fourth quarter. Clearstead Advisors LLC now owns 599 shares of the industrial products company's stock valued at $53,000 after buying an additional 288 shares in the last quarter. Sachetta LLC acquired a new position in shares of Donaldson in the first quarter valued at approximately $65,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Donaldson during the second quarter worth $83,000. 82.81% of the stock is currently owned by institutional investors.

Donaldson Stock Performance

NYSE DCI traded up $1.04 on Thursday, hitting $88.08. 183,843 shares of the stock were exchanged, compared to its average volume of 716,498. The company has a market capitalization of $10.21 billion, a PE ratio of 22.85, a P/E/G ratio of 2.01 and a beta of 0.92. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.08 and a quick ratio of 1.41. The business's fifty day moving average is $91.71 and its 200 day moving average is $88.30. Donaldson Company, Inc. has a 52 week low of $79.42 and a 52 week high of $112.84.

Donaldson (NYSE:DCI - Get Free Report) last released its quarterly earnings data on Tuesday, August 25th. The industrial products company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Donaldson had a net margin of 11.68% and a return on equity of 28.68%. Donaldson's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 EPS. Research analysts anticipate that Donaldson Company, Inc. will post 4.34 EPS for the current fiscal year.

Donaldson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, August 17th. Donaldson's dividend payout ratio (DPR) is presently 33.25%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Weiss Ratings raised shares of Donaldson from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 20th. Stifel Nicolaus set a $95.00 price target on Donaldson in a report on Friday, August 28th. Morgan Stanley upped their price objective on Donaldson from $91.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Robert W. Baird lifted their target price on Donaldson from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday, August 27th. Finally, Wall Street Zen downgraded shares of Donaldson from a "buy" rating to a "hold" rating in a report on Saturday, September 19th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $101.67.

About Donaldson

Donaldson Company, Inc is a global manufacturer of filtration systems and related products. Founded in 1915 by Frank Donaldson, the company develops solutions that help protect engines, equipment, industrial processes and the environment from airborne and liquid contaminants.

Donaldson serves the engine and industrial markets. Its products include air and liquid filters, exhaust and emissions systems, hydraulic and fuel filtration products, dust and fume collectors, compressed-air and gas filtration systems, and filtration solutions for manufacturing, energy, transportation, agriculture, construction and other applications.

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