Meiji Yasuda Asset Management Co Ltd. Invests $3.04 Million in Donaldson Company, Inc. $DCI

Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Donaldson Company, Inc. (NYSE:DCI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 33,845 shares of the industrial products company’s stock, valued at approximately $3,038,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. First Nebraska Trust Co bought a new stake in Donaldson in the second quarter worth about $7,299,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Donaldson by 3,094.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 44,377 shares of the industrial products company’s stock valued at $3,934,000 after buying an additional 42,988 shares during the period. Artemis Investment Management LLP bought a new position in shares of Donaldson during the fourth quarter valued at approximately $1,494,000. Swedbank AB raised its holdings in shares of Donaldson by 2.6% in the fourth quarter. Swedbank AB now owns 528,100 shares of the industrial products company’s stock worth $46,821,000 after buying an additional 13,300 shares during the period. Finally, BlackRock Inc. purchased a new stake in shares of Donaldson in the second quarter worth approximately $1,072,012,000. Hedge funds and other institutional investors own 82.81% of the company’s stock.

Donaldson Trading Down 0.9%

DCI opened at $92.37 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average is $91.42 and its two-hundred day moving average is $90.62. The company has a market capitalization of $10.71 billion, a P/E ratio of 24.83, a PEG ratio of 2.13 and a beta of 0.92. Donaldson Company, Inc. has a 52 week low of $75.28 and a 52 week high of $112.84.

Donaldson (NYSE:DCI) last issued its earnings results on Monday, June 1st. The industrial products company reported $1.06 earnings per share for the quarter, topping 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 analysts’ expectations of $973.65 million. During the same period in the prior year, the business earned $0.99 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. Analysts forecast that Donaldson Company, Inc. will post 3.96 earnings per share for the current year.

Donaldson Dividend Announcement

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

Analyst Upgrades and Downgrades

DCI has been the subject of a number of research analyst reports. Weiss Ratings raised Donaldson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Wells Fargo & Company set a $91.00 target price on Donaldson in a research note on Thursday, June 4th. Wall Street Zen upgraded Donaldson from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. Stifel Nicolaus lowered their target price on shares of Donaldson from $96.00 to $91.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Finally, Robert W. Baird upped their price target on shares of Donaldson from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.