Boothbay Fund Management LLC Invests $266,000 in Donaldson Company, Inc. (NYSE:DCI)

Posted by Defense World Staff on Mar 4th, 2023

Boothbay Fund Management LLC acquired a new position in Donaldson Company, Inc. (NYSE:DCI – Get Rating) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,432 shares of the industrial products company’s stock, valued at approximately $266,000.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new position in shares of Donaldson in the third quarter worth about $27,000. Adirondack Trust Co. bought a new position in Donaldson during the third quarter valued at approximately $39,000. Wipfli Financial Advisors LLC bought a new position in Donaldson during the third quarter valued at approximately $58,000. IFP Advisors Inc boosted its stake in Donaldson by 22.3% during the third quarter. IFP Advisors Inc now owns 1,597 shares of the industrial products company’s stock valued at $74,000 after buying an additional 291 shares during the last quarter. Finally, CWM LLC boosted its stake in Donaldson by 22.4% during the third quarter. CWM LLC now owns 1,710 shares of the industrial products company’s stock valued at $84,000 after buying an additional 313 shares during the last quarter. Institutional investors own 80.10% of the company’s stock.

Analyst Upgrades and Downgrades

DCI has been the subject of a number of research reports. Morgan Stanley increased their price target on Donaldson from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday. Robert W. Baird upped their price objective on Donaldson from $66.00 to $69.00 in a research report on Friday. Finally, StockNews.com upgraded Donaldson from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 11th.

Insider Transactions at Donaldson

In other news, Director Ajita G. Rajendra sold 6,912 shares of the stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $60.39, for a total value of $417,415.68. Following the sale, the director now directly owns 38,806 shares in the company, valued at $2,343,494.34. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Donaldson news, President Thomas R. Scalf sold 4,500 shares of the firm’s stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $61.00, for a total transaction of $274,500.00. Following the transaction, the president now directly owns 26,443 shares in the company, valued at approximately $1,613,023. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ajita G. Rajendra sold 6,912 shares of the firm’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $60.39, for a total value of $417,415.68. Following the transaction, the director now owns 38,806 shares in the company, valued at $2,343,494.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,212 shares of company stock worth $1,405,580. 2.77% of the stock is currently owned by company insiders.

Donaldson Trading Up 0.8 %

Shares of DCI stock opened at $66.89 on Friday. Donaldson Company, Inc. has a 1 year low of $46.00 and a 1 year high of $66.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.33 and a quick ratio of 1.48. The stock’s 50 day simple moving average is $61.88 and its two-hundred day simple moving average is $57.69. The company has a market cap of $8.14 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 2.09 and a beta of 1.21.

Donaldson (NYSE:DCI – Get Rating) last issued its quarterly earnings results on Wednesday, March 1st. The industrial products company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.06. Donaldson had a return on equity of 32.35% and a net margin of 10.45%. The firm had revenue of $828.30 million for the quarter, compared to the consensus estimate of $838.29 million. During the same period in the prior year, the business posted $0.57 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Research analysts predict that Donaldson Company, Inc. will post 3 earnings per share for the current year.

Donaldson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 27th. Stockholders of record on Friday, February 10th were issued a $0.23 dividend. The ex-dividend date was Thursday, February 9th. This represents a $0.92 annualized dividend and a dividend yield of 1.38%. Donaldson’s payout ratio is 31.94%.

Donaldson Profile

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Donaldson Co, Inc engages in the manufacture of filtration systems and replacement parts. It operates through the following segments: Engine Products and Industrial Products. The Engine Products segment includes replacement filters for both air and liquid filtration applications, air filtration systems, liquid filtration systems for fuel, lube and hydraulic applications, and exhaust and emissions systems.