Donaldson Company, Inc. (NYSE:DCI) Declares Dividend Increase – $0.23 Per Share

Donaldson Company, Inc. (NYSE:DCIGet Rating) announced a quarterly dividend on Wednesday, May 25th, Zacks reports. Shareholders of record on Thursday, June 9th will be paid a dividend of 0.23 per share by the industrial products company on Friday, June 24th. This represents a $0.92 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, June 8th. This is a positive change from Donaldson’s previous quarterly dividend of $0.22.

Donaldson has increased its dividend by an average of 5.1% annually over the last three years and has raised its dividend annually for the last 36 consecutive years. Donaldson has a dividend payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Donaldson to earn $3.03 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 29.0%.

Donaldson stock traded up $0.45 during mid-day trading on Friday, hitting $52.23. 214 shares of the company traded hands, compared to its average volume of 431,742. Donaldson has a one year low of $48.13 and a one year high of $69.35. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.31 and a current ratio of 2.06. The stock has a fifty day moving average price of $51.07 and a 200-day moving average price of $54.66.

Donaldson (NYSE:DCIGet Rating) last announced its earnings results on Wednesday, March 2nd. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.05). Donaldson had a net margin of 10.24% and a return on equity of 28.09%. The company had revenue of $802.50 million for the quarter, compared to the consensus estimate of $770.36 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. Sell-side analysts predict that Donaldson will post 2.7 EPS for the current year.

DCI has been the subject of a number of recent research reports. Robert W. Baird lowered their price objective on shares of Donaldson from $70.00 to $65.00 in a report on Thursday, March 3rd. William Blair restated a “market perform” rating on shares of Donaldson in a report on Thursday, March 3rd. Finally, upgraded shares of Donaldson from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 28th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $66.67.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in Donaldson by 3.9% during the 1st quarter. BlackRock Inc. now owns 10,996,071 shares of the industrial products company’s stock valued at $571,026,000 after purchasing an additional 413,360 shares during the period. State Street Corp grew its position in shares of Donaldson by 6.9% in the 1st quarter. State Street Corp now owns 5,942,869 shares of the industrial products company’s stock worth $308,613,000 after buying an additional 382,409 shares during the period. Fuller & Thaler Asset Management Inc. grew its position in shares of Donaldson by 55.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 783,111 shares of the industrial products company’s stock worth $40,667,000 after buying an additional 279,484 shares during the period. 1832 Asset Management L.P. grew its position in shares of Donaldson by 2,630.1% in the 1st quarter. 1832 Asset Management L.P. now owns 161,157 shares of the industrial products company’s stock worth $8,254,000 after buying an additional 155,254 shares during the period. Finally, Walleye Capital LLC bought a new position in Donaldson in the 1st quarter worth about $7,130,000. 76.84% of the stock is currently owned by institutional investors.

About Donaldson (Get Rating)

Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. The company operates through two segments, Engine Products and Industrial Products. Its Engine Products segment provides 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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Dividend History for Donaldson (NYSE:DCI)

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