Gabelli Funds LLC Boosts Stake in Donaldson Company, Inc. $DCI

Key Points

• Gabelli Funds LLC increased its stake in Donaldson Company by 1.7% in the first quarter, bringing its holdings to 653,500 shares worth about $55.5 million.
• Institutional ownership in Donaldson remains very high at 82.81%, with several other large investors also making major additions to their positions during recent quarters.
• Donaldson beat quarterly earnings estimates, raised its dividend to $0.32 per share, and analysts currently have a Moderate Buy consensus with an average price target of $97.83.

Gabelli Funds LLC increased its position in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 653,500 shares of the industrial products company's stock after acquiring an additional 10,850 shares during the quarter. Gabelli Funds LLC owned about 0.56% of Donaldson worth $55,463,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DCI. Pictet Asset Management Holding SA grew its stake in Donaldson by 10,438.1% during the 1st 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 last quarter. William Blair Investment Management LLC increased its holdings in shares of Donaldson by 26,235.7% during the 4th quarter. William Blair Investment Management LLC now owns 1,707,872 shares of the industrial products company's stock valued at $151,420,000 after purchasing an additional 1,701,387 shares in the last quarter. Norges Bank acquired a new position in shares of Donaldson in the 4th quarter valued at $120,186,000. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Donaldson by 22.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,109,595 shares of the industrial products company's stock valued at $187,037,000 after purchasing an additional 380,419 shares during the period. Finally, Arbejdsmarkedets Tillaegspension purchased a new stake in Donaldson during the fourth quarter worth $22,872,000. Institutional investors and hedge funds own 82.81% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company set a $91.00 target price on shares of Donaldson in a research note on Thursday, June 4th. Weiss Ratings upgraded Donaldson from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, June 3rd. Wall Street Zen upgraded Donaldson from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. Stifel Nicolaus reduced their target price on Donaldson from $96.00 to $91.00 and set a "hold" rating on the stock in a research report on Thursday, June 4th. Finally, Robert W. Baird lowered their price target on Donaldson from $104.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, March 30th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Donaldson currently has a consensus rating of "Moderate Buy" and an average target price of $97.83.

Donaldson Trading Up 1.9%

Shares of NYSE DCI opened at $92.88 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $10.77 billion, a PE ratio of 24.97, a PEG ratio of 2.30 and a beta of 0.93. Donaldson Company, Inc. has a twelve month low of $70.17 and a twelve month high of $112.84. The stock has a fifty day simple moving average of $86.72 and a 200-day simple moving average of $91.23.

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

Donaldson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.32 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.28 annualized dividend and a yield of 1.4%. This is a boost from Donaldson's previous quarterly dividend of $0.30. Donaldson's dividend payout ratio is 34.41%.

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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