Heartland Advisors Inc. Lowers Stock Holdings in Donaldson Company, Inc. $DCI

Heartland Advisors Inc. cut its holdings in shares of Donaldson Company, Inc. (NYSE:DCI) by 20.7% during the third quarter, Holdings Channel reports. The firm owned 203,469 shares of the industrial products company’s stock after selling 53,246 shares during the quarter. Donaldson comprises about 0.9% of Heartland Advisors Inc.’s holdings, making the stock its 28th largest position. Heartland Advisors Inc.’s holdings in Donaldson were worth $16,654,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in DCI. Verdence Capital Advisors LLC increased its stake in Donaldson by 1.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 8,502 shares of the industrial products company’s stock worth $711,000 after buying an additional 131 shares during the period. Renaissance Group LLC increased its position in shares of Donaldson by 2.2% during the second quarter. Renaissance Group LLC now owns 7,560 shares of the industrial products company’s stock worth $524,000 after acquiring an additional 161 shares during the period. State of Michigan Retirement System boosted its holdings in Donaldson by 0.7% in the second quarter. State of Michigan Retirement System now owns 28,758 shares of the industrial products company’s stock valued at $1,994,000 after purchasing an additional 200 shares during the period. Trillium Asset Management LLC grew its stake in Donaldson by 5.8% during the 2nd quarter. Trillium Asset Management LLC now owns 3,814 shares of the industrial products company’s stock worth $265,000 after purchasing an additional 210 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Donaldson by 3.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 6,128 shares of the industrial products company’s stock worth $502,000 after purchasing an additional 210 shares during the period. Hedge funds and other institutional investors own 82.81% of the company’s stock.

Insider Buying and Selling

In related news, Director Ajita G. Rajendra sold 19,800 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $92.04, for a total value of $1,822,392.00. Following the completion of the transaction, the director directly owned 43,993 shares in the company, valued at approximately $4,049,115.72. This represents a 31.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Bradley J. Pogalz sold 566 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $91.57, for a total value of $51,828.62. Following the completion of the transaction, the chief financial officer directly owned 434 shares of the company’s stock, valued at approximately $39,741.38. This trade represents a 56.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.20% of the stock is currently owned by company insiders.

Donaldson Stock Performance

DCI opened at $109.38 on Tuesday. Donaldson Company, Inc. has a 12-month low of $57.45 and a 12-month high of $112.84. The firm has a market capitalization of $12.62 billion, a P/E ratio of 34.08, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. The stock’s 50 day moving average price is $97.83 and its two-hundred day moving average price is $87.46. The company has a quick ratio of 1.39, a current ratio of 2.15 and a debt-to-equity ratio of 0.44.

Donaldson (NYSE:DCI) last announced its earnings results on Wednesday, December 3rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. Donaldson had a net margin of 10.25% and a return on equity of 30.24%. The business had revenue of $935.40 million for the quarter, compared to analyst estimates of $922.68 million. During the same quarter in the previous year, the firm posted $0.83 earnings per share. Donaldson’s revenue was up 3.9% compared to the same quarter last year. On average, equities analysts forecast that Donaldson Company, Inc. will post 3.64 earnings per share for the current year.

Donaldson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Thursday, February 12th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.1%. The ex-dividend date is Thursday, February 12th. Donaldson’s payout ratio is currently 37.38%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DCI. Weiss Ratings reissued a “buy (b)” rating on shares of Donaldson in a research report on Friday, January 9th. Stifel Nicolaus increased their price objective on shares of Donaldson from $90.00 to $96.00 and gave the company a “hold” rating in a research report on Friday, December 5th. Jefferies Financial Group lifted their price objective on shares of Donaldson to $123.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Robert W. Baird set a $110.00 target price on shares of Donaldson in a research note on Monday, February 2nd. Finally, Morgan Stanley raised Donaldson from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $72.00 to $84.00 in a report on Monday, November 24th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $103.25.

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.