Edgestream Partners L.P. Takes $1.95 Million Position in Donaldson Company, Inc. $DCI

Key Points

• Edgestream Partners purchased 22,937 shares of Donaldson Company worth approximately $1.95 million during the first quarter. Institutional investors collectively own 82.81% of DCI.
• Donaldson exceeded quarterly expectations with adjusted EPS of $1.06 versus the $1.05 consensus and revenue of $995.1 million, up 5.9% year over year.
• The company declared a quarterly dividend of $0.32 per share, equivalent to an annualized $1.28 payout and a 1.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $97.83.

Edgestream Partners L.P. purchased a new stake in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 22,937 shares of the industrial products company's stock, valued at approximately $1,947,000.

A number of other hedge funds have also bought and sold shares of DCI. Royal Bank of Canada boosted its holdings in shares of Donaldson by 38.2% in the 1st quarter. Royal Bank of Canada now owns 102,128 shares of the industrial products company's stock worth $6,848,000 after buying an additional 28,207 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in Donaldson by 16.5% in the first quarter. Integrated Wealth Concepts LLC now owns 3,479 shares of the industrial products company's stock worth $233,000 after acquiring an additional 494 shares during the period. Millennium Management LLC raised its position in Donaldson by 428.6% in the first quarter. Millennium Management LLC now owns 223,976 shares of the industrial products company's stock worth $15,020,000 after acquiring an additional 181,602 shares during the period. Goldman Sachs Group Inc. boosted its stake in Donaldson by 29.0% in the first quarter. Goldman Sachs Group Inc. now owns 279,525 shares of the industrial products company's stock valued at $18,745,000 after acquiring an additional 62,864 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Donaldson by 84.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,032 shares of the industrial products company's stock valued at $141,000 after acquiring an additional 933 shares during the period. 82.81% of the stock is currently owned by institutional investors.

Donaldson Price Performance

DCI opened at $94.39 on Monday. The firm has a 50-day moving average price of $87.82 and a 200-day moving average price of $91.24. Donaldson Company, Inc. has a twelve month low of $70.17 and a twelve month high of $112.84. 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 company has a market capitalization of $10.94 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 2.38 and a beta of 0.92.

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, beating analysts' consensus estimates of $1.05 by $0.01. The company had revenue of $995.10 million for the quarter, compared to analysts' expectations of $973.65 million. Donaldson had a net margin of 11.52% and a return on equity of 29.17%. Donaldson's revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS. Equities analysts expect that Donaldson Company, Inc. will post 3.96 EPS for the current year.

Donaldson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a dividend of $0.32 per share. The ex-dividend date is Monday, August 17th. This represents a $1.28 annualized dividend and a dividend yield of 1.4%. Donaldson's dividend payout ratio is currently 34.41%.

Analysts Set New Price Targets

DCI has been the subject of several research analyst reports. Wells Fargo & Company set a $91.00 price target on shares of Donaldson in a research note on Thursday, June 4th. Stifel Nicolaus reduced their price objective on Donaldson from $96.00 to $91.00 and set a "hold" rating for the company in a report on Thursday, June 4th. Wall Street Zen downgraded Donaldson from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Weiss Ratings upgraded Donaldson from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, June 3rd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.83.

About Donaldson

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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