Vestcor Inc Sells 22,260 Shares of Donaldson Company, Inc. (NYSE:DCI)

Key Points

• Vestcor Inc significantly reduced its stock holdings in Donaldson Company, Inc. by 68% during the first quarter, owning 10,457 shares valued at $701,000 after selling 22,260 shares.
• Multiple institutional investors have altered their positions in Donaldson, with XTX Topco Ltd and Meeder Asset Management acquiring new shares, while LPL Financial and others increased their stakes.
• Donaldson recently announced a quarterly dividend of $0.30 per share, with an annualized yield of 1.7% and a payout ratio of 40.27%.

Vestcor Inc lowered its position in Donaldson Company, Inc. (NYSE:DCI - Free Report) by 68.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,457 shares of the industrial products company's stock after selling 22,260 shares during the period. Vestcor Inc's holdings in Donaldson were worth $701,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Colonial Trust Co SC acquired a new position in shares of Donaldson during the 4th quarter worth about $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Donaldson during the 1st quarter worth about $29,000. Johnson Financial Group Inc. boosted its stake in shares of Donaldson by 48.8% during the 4th quarter. Johnson Financial Group Inc. now owns 595 shares of the industrial products company's stock worth $42,000 after buying an additional 195 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new position in shares of Donaldson during the 4th quarter worth about $42,000. Finally, CX Institutional acquired a new position in shares of Donaldson during the 1st quarter worth about $53,000. Institutional investors own 82.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DCI shares. Stifel Nicolaus cut their target price on shares of Donaldson from $70.00 to $63.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Wall Street Zen downgraded shares of Donaldson from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Morgan Stanley reiterated an "underweight" rating and issued a $69.00 target price (up from $65.00) on shares of Donaldson in a research note on Friday, June 6th. Finally, Robert W. Baird raised their target price on shares of Donaldson from $76.00 to $78.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th.

Donaldson Stock Up 1.1%

DCI stock traded up $0.78 during trading on Monday, reaching $71.65. The stock had a trading volume of 410,281 shares, compared to its average volume of 586,447. Donaldson Company, Inc. has a one year low of $57.45 and a one year high of $78.95. The company's 50 day moving average is $70.15 and its two-hundred day moving average is $68.60. The company has a market capitalization of $8.35 billion, a price-to-earnings ratio of 24.04, a P/E/G ratio of 1.73 and a beta of 0.99. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 0.44.

Donaldson (NYSE:DCI - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The industrial products company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. Donaldson had a net margin of 9.94% and a return on equity of 28.86%. The company had revenue of $940.10 million for the quarter, compared to analysts' expectations of $936.02 million. During the same period in the prior year, the company posted $0.92 EPS. Donaldson's revenue was up 1.3% compared to the same quarter last year. Equities research analysts forecast that Donaldson Company, Inc. will post 3.64 EPS for the current year.

Donaldson Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Donaldson's dividend payout ratio (DPR) is 40.27%.

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.