New Mexico Educational Retirement Board purchased a new stake in Donaldson Company, Inc. (NYSE:DCI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 32,400 shares of the industrial products company’s stock, valued at approximately $1,586,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. CIBC Asset Management Inc bought a new position in shares of Donaldson in the 3rd quarter valued at $201,000. Magnetar Financial LLC bought a new position in shares of Donaldson in the 3rd quarter valued at $201,000. BB&T Corp bought a new position in shares of Donaldson in the 4th quarter valued at $210,000. Verition Fund Management LLC bought a new position in shares of Donaldson in the 2nd quarter valued at $221,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Donaldson in the 3rd quarter valued at $226,000. Institutional investors own 78.31% of the company’s stock.
DCI has been the subject of a number of research reports. Zacks Investment Research cut Donaldson from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. SunTrust Banks reiterated a “hold” rating and issued a $46.00 price target on shares of Donaldson in a research note on Friday, October 27th. Jefferies Group reaffirmed a “buy” rating and set a $57.00 target price on shares of Donaldson in a research report on Friday, December 1st. Oppenheimer reaffirmed a “hold” rating on shares of Donaldson in a research report on Monday, December 18th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $53.00 target price (up from $50.00) on shares of Donaldson in a research report on Tuesday, January 16th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $52.00.
Donaldson (NYSE:DCI) last announced its earnings results on Thursday, November 30th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.04. The business had revenue of $644.80 million during the quarter, compared to analyst estimates of $602.02 million. Donaldson had a return on equity of 28.49% and a net margin of 9.57%. Donaldson’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the company earned ($0.05) EPS. equities research analysts anticipate that Donaldson Company, Inc. will post 2 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Wednesday, February 14th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.50%. The ex-dividend date is Tuesday, February 13th. Donaldson’s dividend payout ratio is currently 40.68%.
In related news, insider Melissa A. Osland sold 1,453 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $48.26, for a total transaction of $70,121.78. Following the completion of the transaction, the insider now directly owns 4,174 shares of the company’s stock, valued at approximately $201,437.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.09% of the stock is owned by company insiders.
Donaldson Company, Inc is a manufacturer of filtration systems and replacement parts. The Company’s segments include Engine Products, Industrial Products and Corporate. The Company’s products are manufactured at approximately 44 plants around the world and through three joint ventures. The Company offers its products under the Ultra-Web, PowerCore and Donaldson brands.
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