Donaldson Company, Inc. $DCI Shares Sold by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital cut its Donaldson stake by 30.5% in the first quarter, selling 206,517 shares and retaining 470,148 shares worth approximately $39.9 million. Institutional investors collectively own 82.81% of the company.
• Donaldson exceeded quarterly expectations, reporting $1.06 in EPS on $995.1 million in revenue, with revenue up 5.9% year over year. The company also raised its quarterly dividend from $0.30 to $0.32 per share.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $97.83, compared with the stock’s reported price of $95.59.

Arrowstreet Capital Limited Partnership decreased its position in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) by 30.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 470,148 shares of the industrial products company's stock after selling 206,517 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.41% of Donaldson worth $39,901,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Leonteq Securities AG acquired a new position in Donaldson during the fourth quarter worth about $40,000. Eagle Bay Advisors LLC purchased a new stake in shares of Donaldson in the fourth quarter valued at about $45,000. Clearstead Advisors LLC grew its position in shares of 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 purchasing an additional 288 shares during the last quarter. Strive Financial Group LLC purchased a new position in shares of Donaldson during the 4th quarter worth approximately $57,000. Finally, Sachetta LLC purchased a new position in shares of Donaldson during the 1st quarter worth approximately $65,000. Institutional investors and hedge funds own 82.81% of the company's stock.

Donaldson Stock Up 2.6%

Shares of NYSE DCI opened at $95.59 on Wednesday. The stock has a market capitalization of $11.08 billion, a PE ratio of 25.70, a P/E/G ratio of 2.36 and a beta of 0.93. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.35. The firm has a fifty day moving average of $87.22 and a 200-day moving average of $91.27. Donaldson Company, Inc. has a 52-week low of $70.17 and a 52-week high of $112.84.

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

Donaldson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.32 per share. This is a boost from Donaldson's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.28 annualized dividend and a yield of 1.3%. Donaldson's dividend payout ratio is presently 34.41%.

Analysts Set New Price Targets

DCI has been the topic of a number of recent research reports. Wall Street Zen raised Donaldson from a "hold" rating to a "buy" rating in a research note on Sunday, July 12th. Wells Fargo & Company set a $91.00 price objective on Donaldson in a research report on Thursday, June 4th. Weiss Ratings raised Donaldson from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, June 3rd. Finally, Stifel Nicolaus dropped their price objective on Donaldson from $96.00 to $91.00 and set a "hold" rating for the company in a research report on Thursday, June 4th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus 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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