Edgestream Partners L.P. Makes New Investment in Donaldson Company, Inc. (NYSE:DCI)

Edgestream Partners L.P. acquired a new stake in Donaldson Company, Inc. (NYSE:DCI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 20,007 shares of the industrial products company's stock, valued at approximately $1,342,000.

A number of other hedge funds have also recently added to or reduced their stakes in DCI. Norges Bank purchased a new position in Donaldson in the fourth quarter valued at about $65,828,000. Capital Counsel LLC NY boosted its position in Donaldson by 489.2% during the 4th quarter. Capital Counsel LLC NY now owns 656,957 shares of the industrial products company's stock valued at $44,246,000 after buying an additional 545,457 shares during the period. Fiduciary Management Inc. WI lifted its position in shares of Donaldson by 19.9% in the 4th quarter. Fiduciary Management Inc. WI now owns 2,209,279 shares of the industrial products company's stock worth $148,795,000 after purchasing an additional 367,383 shares during the period. Invesco Ltd. lifted its position in shares of Donaldson by 24.7% in the 4th quarter. Invesco Ltd. now owns 1,512,667 shares of the industrial products company's stock worth $101,878,000 after purchasing an additional 299,302 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Donaldson by 70.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 626,776 shares of the industrial products company's stock worth $42,214,000 after purchasing an additional 258,800 shares during the period. Institutional investors and hedge funds own 82.81% of the company's stock.

Donaldson Price Performance

Donaldson stock traded down $0.37 during midday trading on Friday, reaching $70.44. The company's stock had a trading volume of 340,512 shares, compared to its average volume of 567,553. Donaldson Company, Inc. has a fifty-two week low of $57.45 and a fifty-two week high of $78.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.24 and a current ratio of 1.94. The stock's 50 day simple moving average is $69.82 and its 200 day simple moving average is $68.35. The firm has a market capitalization of $8.21 billion, a PE ratio of 23.64, a P/E/G ratio of 1.83 and a beta of 0.98.

Donaldson (NYSE:DCI - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. Donaldson had a return on equity of 28.86% and a net margin of 9.94%. The business had revenue of $940.10 million during the quarter, compared to the consensus estimate of $936.02 million. During the same quarter in the previous year, the company posted $0.92 EPS. The business's revenue was up 1.3% on a year-over-year basis. On average, equities research analysts forecast that Donaldson Company, Inc. will post 3.64 earnings per share for the current year.

Donaldson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a dividend of $0.30 per share. This is a boost from Donaldson's previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Monday, June 16th. Donaldson's dividend payout ratio is 40.27%.

Analyst Ratings Changes

Several equities analysts have recently commented on DCI shares. Wall Street Zen downgraded shares of Donaldson from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Stifel Nicolaus decreased their price objective on shares of Donaldson from $70.00 to $63.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Robert W. Baird lifted their target price on shares of Donaldson from $76.00 to $78.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $69.00 target price (up previously from $65.00) on shares of Donaldson in a research note on Friday, June 6th.

About Donaldson

Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. The company operates through three segments: Mobile Solutions, Industrial Solutions, and Life Sciences. Its Mobile Solutions segment provides replacement filters for air and liquid filtration applications, such as air filtration systems; liquid filtration systems for fuel, lube, and hydraulic applications; exhaust and emissions systems and sensors; indicators; and monitoring systems.