Meiji Yasuda Asset Management Co Ltd. Purchases Shares of 33,845 Donaldson Company, Inc. $DCI

Key Points

• Meiji Yasuda Asset Management acquired 33,845 shares of Donaldson Company worth approximately $3.04 million in the second quarter. Institutional investors collectively own 82.81% of the company.
• Donaldson reported quarterly earnings of $1.06 per share, slightly above estimates, while revenue rose 5.9% year over year to $995.1 million.
• The company declared a quarterly dividend of $0.32 per share, equivalent to an annualized $1.28 dividend and a 1.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $99.50.

Meiji Yasuda Asset Management Co Ltd. purchased a new position in Donaldson Company, Inc. (NYSE:DCI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,845 shares of the industrial products company's stock, valued at approximately $3,038,000.

Several other institutional investors have also recently made changes to their positions in DCI. Verdence Capital Advisors LLC grew its stake in shares of Donaldson by 1.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 8,603 shares of the industrial products company's stock valued at $763,000 after acquiring an additional 101 shares during the period. TIAA Trust National Association raised its stake in Donaldson by 2.0% during the 4th quarter. TIAA Trust National Association now owns 5,589 shares of the industrial products company's stock worth $496,000 after acquiring an additional 108 shares during the period. HB Wealth Management LLC lifted its holdings in Donaldson by 3.8% during the first quarter. HB Wealth Management LLC now owns 3,502 shares of the industrial products company's stock valued at $297,000 after purchasing an additional 129 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Donaldson by 2.4% during the fourth quarter. Quadrant Capital Group LLC now owns 5,645 shares of the industrial products company's stock valued at $500,000 after purchasing an additional 132 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Donaldson by 4.8% during the 1st quarter. Blue Trust Inc. now owns 2,925 shares of the industrial products company's stock valued at $248,000 after purchasing an additional 133 shares during the period. Institutional investors own 82.81% of the company's stock.

Donaldson Stock Down 0.9%

NYSE DCI opened at $92.37 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.55 and a current ratio of 2.35. The company has a market capitalization of $10.71 billion, a P/E ratio of 24.83, a P/E/G ratio of 2.13 and a beta of 0.92. Donaldson Company, Inc. has a one year low of $75.28 and a one year high of $112.84. The stock has a 50 day moving average price of $91.42 and a 200-day moving average price of $90.62.

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

Donaldson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be issued a $0.32 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.4%. Donaldson's payout ratio is 34.41%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Donaldson from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday. Robert W. Baird increased their price target on Donaldson from $95.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 19th. Wall Street Zen raised Donaldson from a "hold" rating to a "buy" rating in a report on Sunday, August 9th. Wells Fargo & Company set a $91.00 price objective on Donaldson in a research note on Thursday, June 4th. Finally, Stifel Nicolaus cut their target price on Donaldson from $96.00 to $91.00 and set a "hold" rating for the company in a research report on Thursday, June 4th. Three 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 company has an average rating of "Moderate Buy" and a consensus price target of $99.50.

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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