Donaldson (NYSE:DCI – Get Rating) issued an update on its FY23 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.91-3.07 for the period, compared to the consensus EPS estimate of $3.03. The company issued revenue guidance of +1-5% yr/yr to ~$3.34-3.47 billion, compared to the consensus revenue estimate of $3.50 billion. Donaldson also updated its FY 2023 guidance to $2.66-$2.68 EPS.
Donaldson Trading Down 1.1 %
Shares of NYSE DCI opened at $52.90 on Wednesday. Donaldson has a 1 year low of $46.00 and a 1 year high of $69.35. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.25 and a quick ratio of 1.41. The firm has a 50-day moving average of $51.99 and a 200 day moving average of $51.55. The stock has a market cap of $6.50 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 1.67 and a beta of 1.26.
Donaldson (NYSE:DCI – Get Rating) last issued its quarterly earnings results on Wednesday, June 1st. The industrial products company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.05). Donaldson had a return on equity of 28.15% and a net margin of 9.91%. The company had revenue of $853.20 million during the quarter, compared to the consensus estimate of $823.99 million. During the same period in the prior year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, sell-side analysts expect that Donaldson will post 2.69 EPS for the current fiscal year.
Donaldson Dividend Announcement
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Tuesday, August 16th will be paid a $0.23 dividend. The ex-dividend date is Monday, August 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.74%. Donaldson’s dividend payout ratio is currently 36.65%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on DCI shares. StockNews.com lowered Donaldson from a strong-buy rating to a buy rating in a research report on Sunday, June 12th. Morgan Stanley cut their price target on shares of Donaldson from $68.00 to $63.00 and set an overweight rating on the stock in a report on Monday, July 18th. Robert W. Baird decreased their price objective on shares of Donaldson from $65.00 to $61.00 and set an outperform rating for the company in a report on Thursday, June 2nd. Finally, Stifel Nicolaus cut their target price on Donaldson from $53.00 to $51.00 in a research note on Monday, July 18th.
Insider Buying and Selling at Donaldson
In other news, Director Willard D. Oberton sold 7,200 shares of the stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $53.09, for a total value of $382,248.00. Following the transaction, the director now owns 23,903 shares in the company, valued at approximately $1,269,010.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.52% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Donaldson
A number of hedge funds have recently modified their holdings of DCI. Vanguard Group Inc. lifted its position in Donaldson by 0.7% during the first quarter. Vanguard Group Inc. now owns 12,310,872 shares of the industrial products company’s stock valued at $639,304,000 after purchasing an additional 83,620 shares in the last quarter. BlackRock Inc. grew its stake in shares of 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 acquiring an additional 413,360 shares during the period. State Street Corp increased its holdings in Donaldson by 13.9% in the 2nd quarter. State Street Corp now owns 6,767,711 shares of the industrial products company’s stock worth $325,798,000 after acquiring an additional 824,842 shares in the last quarter. First Trust Advisors LP increased its holdings in Donaldson by 7.1% in the 1st quarter. First Trust Advisors LP now owns 1,354,847 shares of the industrial products company’s stock worth $70,357,000 after acquiring an additional 90,180 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Donaldson by 7.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,155,490 shares of the industrial products company’s stock valued at $60,010,000 after purchasing an additional 78,850 shares in the last quarter. Institutional investors own 80.20% of the company’s stock.
About Donaldson
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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