Gamco Investors INC. ET AL Sells 74,805 Shares of Donaldson Company, Inc. $DCI

Key Points

• Gamco Investors reduced its stake in Donaldson Company by 21.4% in the first quarter, selling 74,805 shares and leaving it with 274,351 shares valued at about $23.3 million.
• Donaldson reported better-than-expected quarterly results, with EPS of $1.06 versus estimates of $1.05 and revenue of $995.1 million, up 5.9% year over year.
• The company also raised its dividend to $0.32 per share from $0.30, while analysts currently view the stock as a Moderate Buy with an average price target of $97.83.

Gamco Investors INC. ET AL cut its position in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) by 21.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 274,351 shares of the industrial products company's stock after selling 74,805 shares during the period. Gamco Investors INC. ET AL owned 0.24% of Donaldson worth $23,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Leonteq Securities AG acquired a new stake in Donaldson in the 4th quarter valued at about $40,000. Eagle Bay Advisors LLC acquired a new position in Donaldson during the fourth quarter worth approximately $45,000. Clearstead Advisors LLC increased its position in Donaldson by 92.6% during the fourth quarter. Clearstead Advisors LLC now owns 599 shares of the industrial products company's stock worth $53,000 after buying an additional 288 shares during the last quarter. Strive Financial Group LLC bought a new stake in Donaldson in the fourth quarter valued at approximately $57,000. Finally, Sachetta LLC acquired a new stake in shares of Donaldson in the first quarter valued at approximately $65,000. 82.81% of the stock is owned by institutional investors.

Donaldson Price Performance

Shares of NYSE DCI opened at $92.88 on Friday. The firm has a market cap of $10.77 billion, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 2.35 and a beta of 0.93. The business's 50 day moving average is $86.72 and its 200-day moving average is $91.23. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.35. Donaldson Company, Inc. has a 1-year low of $70.17 and a 1-year high of $112.84.

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

Donaldson Increases Dividend

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

Wall Street Analyst Weigh In

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

Donaldson 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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