Sprucegrove Investment Management Ltd. Has $26.40 Million Stake in Donaldson Company, Inc. (NYSE:DCI)

Sprucegrove Investment Management Ltd. trimmed its stake in shares of Donaldson Company, Inc. (NYSE:DCI) by 12.2% during the first quarter, Holdings Channel.com reports. The firm owned 453,901 shares of the industrial products company’s stock after selling 63,000 shares during the period. Sprucegrove Investment Management Ltd.’s holdings in Donaldson were worth $26,399,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Donaldson in the fourth quarter valued at approximately $73,236,000. Ardevora Asset Management LLP acquired a new position in Donaldson in the first quarter valued at approximately $55,409,000. Wells Fargo & Company MN lifted its holdings in Donaldson by 115.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,399,643 shares of the industrial products company’s stock valued at $78,211,000 after buying an additional 750,072 shares during the period. Ceredex Value Advisors LLC acquired a new position in Donaldson in the fourth quarter valued at approximately $23,972,000. Finally, BlackRock Inc. increased its stake in Donaldson by 3.9% in the first quarter. BlackRock Inc. now owns 11,173,435 shares of the industrial products company’s stock valued at $649,847,000 after purchasing an additional 420,385 shares in the last quarter. Institutional investors own 79.78% of the company’s stock.

Donaldson stock traded up $0.23 during mid-day trading on Friday, reaching $61.83. The company’s stock had a trading volume of 260 shares, compared to its average volume of 479,247. The stock has a market cap of $7.76 billion, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 2.57 and a beta of 1.33. Donaldson Company, Inc. has a 12 month low of $42.58 and a 12 month high of $65.47. The firm’s 50 day simple moving average is $61.68. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.18 and a quick ratio of 1.53.

Donaldson (NYSE:DCI) last announced its quarterly earnings results on Tuesday, June 1st. The industrial products company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.08. The firm had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $707.59 million. Donaldson had a net margin of 9.88% and a return on equity of 25.96%. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 earnings per share. As a group, analysts predict that Donaldson Company, Inc. will post 2.32 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Shareholders of record on Thursday, June 10th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, June 9th. This represents a $0.88 dividend on an annualized basis and a yield of 1.42%. This is a boost from Donaldson’s previous quarterly dividend of $0.21. Donaldson’s dividend payout ratio (DPR) is currently 42.00%.

Several equities research analysts have commented on the stock. Morgan Stanley upped their target price on shares of Donaldson from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, June 3rd. Zacks Investment Research downgraded shares of Donaldson from a “buy” rating to a “hold” rating and set a $64.00 target price for the company. in a research note on Tuesday, March 2nd. Finally, Robert W. Baird increased their price objective on shares of Donaldson from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, June 3rd. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Donaldson presently has a consensus rating of “Buy” and an average price target of $70.00.

In other Donaldson news, Director Michael J. Hoffman sold 14,400 shares of the stock in a transaction on Thursday, June 3rd. The shares were sold at an average price of $63.71, for a total value of $917,424.00. Following the completion of the sale, the director now owns 78,415 shares in the company, valued at $4,995,819.65. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.18% of the company’s stock.

Donaldson Company Profile

Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. It operates through two segments, Engine Products and Industrial Products. The Engine Products segment offers replacement filters for air and liquid filtration applications, air filtration systems, liquid filtration systems for fuel, lube and hydraulic applications, exhaust and emissions systems and sensors, indicators, and monitoring systems.

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Institutional Ownership by Quarter for Donaldson (NYSE:DCI)

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