Meeder Asset Management Inc. Invests $277,000 in Donaldson Company, Inc. (NYSE:DCI)

Meeder Asset Management Inc. purchased a new stake in Donaldson Company, Inc. (NYSE:DCI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,130 shares of the industrial products company's stock, valued at approximately $277,000.

Several other institutional investors and hedge funds have also recently modified their holdings of DCI. LPL Financial LLC raised its holdings in shares of Donaldson by 2.2% during the 4th quarter. LPL Financial LLC now owns 67,805 shares of the industrial products company's stock valued at $4,567,000 after buying an additional 1,473 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Donaldson by 6.1% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 48,085 shares of the industrial products company's stock valued at $3,239,000 after buying an additional 2,781 shares in the last quarter. JPMorgan Chase & Co. grew its position in Donaldson by 7.1% during the 4th quarter. JPMorgan Chase & Co. now owns 470,602 shares of the industrial products company's stock worth $31,695,000 after acquiring an additional 31,064 shares during the last quarter. NEOS Investment Management LLC bought a new position in Donaldson during the 4th quarter worth approximately $324,000. Finally, Norges Bank bought a new position in Donaldson during the 4th quarter worth approximately $65,828,000. Hedge funds and other institutional investors own 82.81% of the company's stock.

Donaldson Stock Down 1.5%

Shares of NYSE DCI traded down $1.10 during mid-day trading on Friday, hitting $70.87. 527,117 shares of the stock traded hands, compared to its average volume of 489,260. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.24 and a current ratio of 1.94. Donaldson Company, Inc. has a 52 week low of $57.45 and a 52 week high of $78.95. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 1.87 and a beta of 0.99. The stock has a fifty day moving average price of $70.15 and a 200-day moving average price of $68.61.

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 for the quarter, beating 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 company had revenue of $940.10 million for the quarter, compared to analyst estimates of $936.02 million. During the same period in the previous year, the company posted $0.92 earnings per share. The firm's revenue was up 1.3% on a year-over-year basis. Research analysts anticipate that Donaldson Company, Inc. will post 3.64 EPS for the current year.

Donaldson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Tuesday, August 12th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Donaldson's payout ratio is 40.27%.

Wall Street Analysts Forecast Growth

DCI has been the topic of several recent research reports. Wall Street Zen lowered Donaldson from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Morgan Stanley reiterated an "underweight" rating and issued a $69.00 price objective (up from $65.00) on shares of Donaldson in a research report on Friday, June 6th. Robert W. Baird lifted their price objective on Donaldson from $76.00 to $78.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Finally, Stifel Nicolaus cut their price objective on Donaldson from $70.00 to $63.00 and set a "hold" rating on the stock in a research report on Monday, April 14th.

Donaldson Profile

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.