Amalgamated Bank Sells 2,764 Shares of Donaldson Company, Inc. (NYSE:DCI)

Amalgamated Bank reduced its holdings in Donaldson Company, Inc. (NYSE:DCI) by 4.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,839 shares of the industrial products company’s stock after selling 2,764 shares during the quarter. Amalgamated Bank’s holdings in Donaldson were worth $3,745,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DCI. Norges Bank bought a new position in Donaldson in the 4th quarter worth about $65,828,000. Capital Counsel LLC NY boosted its holdings in shares of Donaldson by 489.2% in the 4th quarter. Capital Counsel LLC NY now owns 656,957 shares of the industrial products company’s stock worth $44,246,000 after purchasing an additional 545,457 shares in the last quarter. Fiduciary Management Inc. WI boosted its holdings in shares of Donaldson by 19.9% in the 4th quarter. Fiduciary Management Inc. WI now owns 2,209,279 shares of the industrial products company’s stock worth $148,795,000 after purchasing an additional 367,383 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Donaldson by 24.7% in the 4th quarter. Invesco Ltd. now owns 1,512,667 shares of the industrial products company’s stock worth $101,878,000 after purchasing an additional 299,302 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Donaldson by 70.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 626,776 shares of the industrial products company’s stock worth $42,214,000 after purchasing an additional 258,800 shares in the last quarter. 82.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DCI shares. Wall Street Zen upgraded Donaldson from a “hold” rating to a “buy” rating in a report on Friday, June 27th. Stifel Nicolaus cut their price objective on Donaldson from $70.00 to $63.00 and set a “hold” rating for the company in a report on Monday, April 14th. Morgan Stanley reiterated an “underweight” rating and issued a $69.00 price objective (up from $65.00) on shares of Donaldson in a report on Friday, June 6th. Finally, Robert W. Baird upped their price objective on Donaldson from $76.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th.

Donaldson Trading Up 0.1%

Shares of DCI stock opened at $71.26 on Friday. The stock has a market capitalization of $8.30 billion, a PE ratio of 23.91, a P/E/G ratio of 1.85 and a beta of 0.98. Donaldson Company, Inc. has a 1-year low of $57.45 and a 1-year high of $78.95. The business has a 50-day moving average of $68.89 and a 200 day moving average of $68.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.94 and a quick ratio of 1.24.

Donaldson (NYSE:DCI) last issued its earnings results on Tuesday, June 3rd. The industrial products company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. The company had revenue of $940.10 million during the quarter, compared to analysts’ expectations of $936.02 million. Donaldson had a return on equity of 28.86% and a net margin of 9.94%. Donaldson’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 EPS. As a group, sell-side analysts anticipate that Donaldson Company, Inc. will post 3.64 earnings per share for the current year.

Donaldson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.30 per share. This is a positive change from Donaldson’s previous quarterly dividend of $0.27. The ex-dividend date was Monday, June 16th. This represents a $1.20 dividend on an annualized basis and a yield of 1.68%. Donaldson’s dividend payout ratio is presently 40.27%.

Insider Buying and Selling

In other Donaldson news, Director James Owens sold 18,700 shares of the company’s stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $62.02, for a total transaction of $1,159,774.00. Following the completion of the transaction, the director owned 20,246 shares of the company’s stock, valued at $1,255,656.92. This represents a 48.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.70% of the stock is owned by insiders.

About Donaldson

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.