Donaldson Company, Inc. (NYSE:DCI) to Issue Quarterly Dividend of $0.27

Donaldson Company, Inc. (NYSE:DCI) announced a quarterly dividend on Monday, July 29th, Wall Street Journal reports. Stockholders of record on Tuesday, August 13th will be given a dividend of 0.27 per share by the industrial products company on Wednesday, August 28th. This represents a $1.08 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Tuesday, August 13th.

Donaldson has increased its dividend payment by an average of 5.3% annually over the last three years and has raised its dividend annually for the last 38 consecutive years. Donaldson has a dividend payout ratio of 29.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Donaldson to earn $3.70 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 29.2%.

Donaldson Stock Up 0.5 %

DCI traded up $0.34 during trading on Monday, reaching $74.63. 321,906 shares of the stock were exchanged, compared to its average volume of 487,048. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.30 and a current ratio of 1.91. The stock’s 50 day moving average price is $72.75 and its two-hundred day moving average price is $71.29. Donaldson has a twelve month low of $57.05 and a twelve month high of $78.03. The stock has a market cap of $8.99 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 2.10 and a beta of 1.05.

Donaldson (NYSE:DCI) last released its quarterly earnings data on Tuesday, June 4th. The industrial products company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.08. The company had revenue of $927.90 million for the quarter, compared to analyst estimates of $915.84 million. Donaldson had a net margin of 11.22% and a return on equity of 29.00%. During the same period in the previous year, the business earned $0.76 EPS. Donaldson’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts expect that Donaldson will post 3.37 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Scott J. Robinson sold 37,600 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $70.97, for a total value of $2,668,472.00. Following the completion of the sale, the chief financial officer now directly owns 37,702 shares in the company, valued at approximately $2,675,710.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Raymond James started coverage on Donaldson in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Robert W. Baird dropped their price target on Donaldson from $80.00 to $79.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $67.67.

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.