Granite Investment Partners LLC Reduces Stock Position in Donaldson Company, Inc. (NYSE:DCI)

Granite Investment Partners LLC trimmed its stake in shares of Donaldson Company, Inc. (NYSE:DCI) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,250 shares of the industrial products company’s stock after selling 247 shares during the period. Granite Investment Partners LLC’s holdings in Donaldson were worth $1,020,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wealthspire Advisors LLC lifted its holdings in Donaldson by 2.8% in the 1st quarter. Wealthspire Advisors LLC now owns 5,106 shares of the industrial products company’s stock worth $381,000 after purchasing an additional 140 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Donaldson by 1.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,364 shares of the industrial products company’s stock valued at $813,000 after acquiring an additional 146 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Donaldson by 31.6% in the first quarter. EverSource Wealth Advisors LLC now owns 766 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 184 shares during the last quarter. Oak Family Advisors LLC boosted its holdings in Donaldson by 4.3% during the 2nd quarter. Oak Family Advisors LLC now owns 4,742 shares of the industrial products company’s stock valued at $339,000 after acquiring an additional 197 shares during the period. Finally, SkyOak Wealth LLC grew its holdings in shares of Donaldson by 5.3% in the first quarter. SkyOak Wealth LLC now owns 4,561 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 82.81% of the company’s stock.

Donaldson Trading Down 1.1 %

Shares of NYSE:DCI opened at $72.36 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.23 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $8.71 billion, a PE ratio of 22.40, a P/E/G ratio of 1.84 and a beta of 1.05. Donaldson Company, Inc. has a 12-month low of $57.05 and a 12-month high of $78.03. The business’s fifty day simple moving average is $72.46 and its 200-day simple moving average is $72.90.

Donaldson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 13th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $1.08 dividend on an annualized basis and a yield of 1.49%. Donaldson’s payout ratio is 33.44%.

Insider Buying and Selling

In other Donaldson news, CFO Scott J. Robinson sold 37,600 shares of the firm’s stock in a transaction dated 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 owns 37,702 shares of the company’s stock, valued at $2,675,710.94. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director James Owens sold 5,210 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $71.74, for a total value of $373,765.40. Following the transaction, the director now directly owns 17,788 shares of the company’s stock, valued at $1,276,111.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott J. Robinson sold 37,600 shares of Donaldson stock in a transaction dated 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 sale, the chief financial officer now directly owns 37,702 shares of the company’s stock, valued at approximately $2,675,710.94. The disclosure for this sale can be found here. 2.58% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on DCI. Stifel Nicolaus lowered their price objective on shares of Donaldson from $76.00 to $71.00 and set a “hold” rating for the company in a research report on Thursday, August 29th. StockNews.com cut Donaldson from a “strong-buy” rating to a “buy” rating in a research note on Friday. Raymond James initiated coverage on Donaldson in a report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Robert W. Baird cut 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $69.67.

Donaldson Profile

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.