Palisade Capital Management LP Takes $3.34 Million Position in Donaldson Company, Inc. $DCI

Palisade Capital Management LP purchased a new stake in shares of Donaldson Company, Inc. (NYSE:DCI) during the 2nd quarter, Holdings Channel reports. The fund purchased 37,183 shares of the industrial products company’s stock, valued at approximately $3,338,000.

A number of other institutional investors have also added to or reduced their stakes in DCI. Verdence Capital Advisors LLC lifted its stake in Donaldson by 1.2% in the 4th quarter. Verdence Capital Advisors LLC now owns 8,603 shares of the industrial products company’s stock valued at $763,000 after purchasing an additional 101 shares during the last quarter. TIAA Trust National Association grew its stake in shares of Donaldson by 2.0% during the fourth quarter. TIAA Trust National Association now owns 5,589 shares of the industrial products company’s stock worth $496,000 after buying an additional 108 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Donaldson by 3.8% during the first quarter. HB Wealth Management LLC now owns 3,502 shares of the industrial products company’s stock worth $297,000 after buying an additional 129 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Donaldson by 2.4% during the fourth quarter. Quadrant Capital Group LLC now owns 5,645 shares of the industrial products company’s stock worth $500,000 after buying an additional 132 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Donaldson by 4.8% during the first quarter. Blue Trust Inc. now owns 2,925 shares of the industrial products company’s stock worth $248,000 after buying an additional 133 shares in the last quarter. 82.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DCI shares. Wall Street Zen raised Donaldson from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Weiss Ratings raised Donaldson from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 20th. Wells Fargo & Company set a $91.00 target price on Donaldson in a research report on Thursday, June 4th. Robert W. Baird lifted their price target on Donaldson from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Finally, Stifel Nicolaus reduced their price target on Donaldson from $96.00 to $91.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Donaldson has an average rating of “Moderate Buy” and an average price target of $99.50.

Donaldson Price Performance

DCI stock opened at $93.29 on Wednesday. The company has a market capitalization of $10.81 billion, a P/E ratio of 25.08, a PEG ratio of 2.11 and a beta of 0.92. The company has a fifty day moving average price of $91.55 and a 200-day moving average price of $90.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.55 and a current ratio of 2.35. Donaldson Company, Inc. has a 52-week low of $75.58 and a 52-week high of $112.84.

Donaldson (NYSE:DCI) last issued its quarterly earnings data 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. The company had revenue of $995.10 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 earnings per share. As a group, equities analysts expect that Donaldson Company, Inc. will post 3.96 EPS for the current year.

Donaldson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.28 annualized dividend and a yield of 1.4%. Donaldson’s payout ratio is presently 34.41%.

Donaldson Company Profile

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.