Donaldson Company, Inc. $DCI Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management cut its Donaldson stake by 78.9% in the third quarter, selling 58,060 shares and retaining 15,540 shares valued at approximately $1.35 million.
• Donaldson reported quarterly EPS of $1.15, exceeding estimates by $0.02, while revenue rose 8% year over year to $1.06 billion. Institutional investors collectively own 82.81% of the company.
• Shares recently fell 1.6% to $84.74, despite the company’s $0.32 quarterly dividend and an analyst consensus of “Moderate Buy” with an average price target of $101.67.

Sumitomo Mitsui DS Asset Management Company Ltd lessened its stake in Donaldson Company, Inc. (NYSE:DCI - Free Report) by 78.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,540 shares of the industrial products company's stock after selling 58,060 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Donaldson were worth $1,353,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DCI. BlackRock Inc. acquired a new position in shares of Donaldson during the second quarter worth $1,072,012,000. Pictet Asset Management Holding SA boosted its stake in shares of Donaldson by 10,438.1% in the first quarter. Pictet Asset Management Holding SA now owns 1,801,481 shares of the industrial products company's stock valued at $152,873,000 after purchasing an additional 1,784,386 shares during the period. Bank of New York Mellon Corp grew its holdings in Donaldson by 0.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,222,704 shares of the industrial products company's stock valued at $103,771,000 after purchasing an additional 9,451 shares in the last quarter. Gabelli Funds LLC grew its holdings in Donaldson by 1.7% during the 1st quarter. Gabelli Funds LLC now owns 653,500 shares of the industrial products company's stock valued at $55,463,000 after purchasing an additional 10,850 shares in the last quarter. Finally, Swedbank AB grew its holdings in Donaldson by 1.2% during the 1st quarter. Swedbank AB now owns 534,400 shares of the industrial products company's stock valued at $45,355,000 after purchasing an additional 6,300 shares in the last quarter. Institutional investors and hedge funds own 82.81% of the company's stock.

Donaldson Stock Down 1.6%

Shares of NYSE:DCI traded down $1.38 during midday trading on Friday, reaching $84.74. The company had a trading volume of 595,937 shares, compared to its average volume of 549,174. The stock has a market capitalization of $9.81 billion, a P/E ratio of 22.01, a PEG ratio of 1.99 and a beta of 0.87. The stock's fifty day moving average price is $89.01 and its 200-day moving average price is $88.58. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.08 and a quick ratio of 1.41. Donaldson Company, Inc. has a one year low of $79.61 and a one year high of $112.84.

Donaldson (NYSE:DCI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 25th. The industrial products company reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Donaldson had a net margin of 11.68% and a return on equity of 28.68%. The firm's revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. Equities research analysts expect that Donaldson Company, Inc. will post 4.33 earnings per share for the current fiscal year.

Donaldson Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently issued reports on DCI. Weiss Ratings raised shares of Donaldson from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 20th. Robert W. Baird upped their price objective on shares of Donaldson from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday, August 27th. Stifel Nicolaus set a $95.00 target price on Donaldson in a research note on Friday, August 28th. Wall Street Zen downgraded Donaldson from a "buy" rating to a "hold" rating in a research note on Saturday, September 19th. Finally, Morgan Stanley lifted their target price on Donaldson from $91.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 29th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $101.67.

Donaldson Company Profile

Donaldson Company, Inc NYSE: DCI is a global manufacturer of filtration systems and replacement parts. The company serves original-equipment manufacturers, industrial businesses and aftermarket customers with products designed to protect engines, equipment, processes and the surrounding environment.

Its product portfolio includes air, oil, fuel, hydraulic and coolant filters for on- and off-road vehicles and heavy equipment, as well as filtration systems for industrial dust, fume and mist collection.

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