JPMorgan Chase & Co. increased its holdings in shares of Donaldson Company, Inc. (NYSE:DCI) by 167.0% in the third quarter, Holdings Channel reports. The institutional investor owned 238,445 shares of the industrial products company’s stock after purchasing an additional 149,144 shares during the quarter. JPMorgan Chase & Co.’s holdings in Donaldson were worth $13,892,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Parametrica Management Ltd bought a new position in shares of Donaldson in the third quarter valued at about $363,000. ING Groep NV bought a new position in shares of Donaldson in the third quarter valued at about $217,000. Stone Ridge Asset Management LLC raised its position in shares of Donaldson by 3.6% in the third quarter. Stone Ridge Asset Management LLC now owns 33,256 shares of the industrial products company’s stock valued at $1,937,000 after purchasing an additional 1,164 shares during the period. Virginia Retirement Systems ET AL raised its position in shares of Donaldson by 60.3% in the third quarter. Virginia Retirement Systems ET AL now owns 35,900 shares of the industrial products company’s stock valued at $2,092,000 after purchasing an additional 13,500 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of Donaldson by 21.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 21,250 shares of the industrial products company’s stock valued at $1,238,000 after purchasing an additional 3,818 shares during the period. 81.42% of the stock is owned by institutional investors and hedge funds.
In related news, Director Willard D. Oberton sold 14,400 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $56.85, for a total transaction of $818,640.00. Following the transaction, the director now directly owns 30,451 shares of the company’s stock, valued at $1,731,139.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Richard Brent Lewis sold 3,209 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $58.99, for a total transaction of $189,298.91. Following the transaction, the vice president now directly owns 4,000 shares in the company, valued at $235,960. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by company insiders.
Several brokerages have recently weighed in on DCI. Zacks Investment Research lowered shares of Donaldson from a “buy” rating to a “hold” rating in a research report on Tuesday, November 13th. ValuEngine raised shares of Donaldson from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Stifel Nicolaus reissued a “hold” rating and issued a $54.00 price objective (up from $46.00) on shares of Donaldson in a research report on Thursday, September 6th. SunTrust Banks reissued a “hold” rating and issued a $56.00 price objective on shares of Donaldson in a research report on Thursday. Finally, Oppenheimer reissued a “hold” rating on shares of Donaldson in a research report on Thursday, September 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $56.33.
NYSE:DCI opened at $48.92 on Friday. Donaldson Company, Inc. has a 52 week low of $43.35 and a 52 week high of $59.43. The stock has a market cap of $6.59 billion, a P/E ratio of 24.49, a price-to-earnings-growth ratio of 1.87 and a beta of 1.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.69 and a current ratio of 2.40.
Donaldson (NYSE:DCI) last released its quarterly earnings results on Tuesday, December 4th. The industrial products company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Donaldson had a return on equity of 32.75% and a net margin of 6.92%. The business had revenue of $701.40 million for the quarter, compared to the consensus estimate of $700.98 million. During the same period in the prior year, the business posted $0.46 earnings per share. Donaldson’s revenue was up 8.8% compared to the same quarter last year. Equities research analysts anticipate that Donaldson Company, Inc. will post 2.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Tuesday, December 11th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Monday, December 10th. Donaldson’s dividend payout ratio is 38.00%.
Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. It operates through Engine Products and Industrial Products segments. The Engine Products segment offers replacement filters for air and liquid filtration applications, air filtration systems, liquid filtration systems for fuel, lube and hydraulic applications, and exhaust and emissions systems.
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