Donaldson Company, Inc. to Issue Quarterly Dividend of $0.32 (NYSE:DCI)

Donaldson Company, Inc. (NYSE:DCI) announced a quarterly dividend on Friday, July 31st. Stockholders of record on Monday, August 17th will be paid a dividend of 0.32 per share by the industrial products company on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, August 17th.

Donaldson has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 38 consecutive years. Donaldson has a dividend payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Donaldson to earn $4.37 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 29.3%.

Donaldson Price Performance

DCI stock opened at $96.03 on Friday. The firm has a 50 day moving average of $90.47 and a 200-day moving average of $91.06. The firm has a market capitalization of $11.13 billion, a P/E ratio of 25.82, a price-to-earnings-growth ratio of 2.19 and a beta of 0.92. Donaldson has a 12 month low of $72.95 and a 12 month high of $112.84. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.35.

Donaldson (NYSE:DCI) last posted its earnings results on Monday, June 1st. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.01. The business 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%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS. As a group, sell-side analysts predict that Donaldson will post 3.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Donaldson

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Donaldson during the second quarter valued at about $1,072,012,000. Pictet Asset Management Holding SA boosted its holdings in Donaldson by 10,438.1% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,801,481 shares of the industrial products company’s stock valued at $152,873,000 after acquiring an additional 1,784,386 shares during the period. William Blair Investment Management LLC grew its position in Donaldson by 26,235.7% during the 4th quarter. William Blair Investment Management LLC now owns 1,707,872 shares of the industrial products company’s stock worth $151,420,000 after acquiring an additional 1,701,387 shares during the last quarter. Norges Bank bought a new position in Donaldson during the 4th quarter worth approximately $120,186,000. Finally, Bank of New York Mellon Corp purchased a new position in Donaldson in the 2nd quarter worth approximately $95,542,000. Institutional investors own 82.81% of the company’s stock.

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.