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Donaldson Company, Inc. (NYSE:DCI) Sees Large Decline in Short Interest

Financial News Live · Sep 18, 2022 08:11

Donaldson Company, Inc. (NYSE:DCI – Get Rating) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 970,800 shares, a decline of 12.5% from the August 15th total of 1,110,000 shares. Based on an average daily trading volume, of 370,100 shares, the days-to-cover ratio is presently 2.6 days. Approximately 0.8% of the company's shares are sold short.

Donaldson Stock Performance

NYSE:DCI opened at $51.67 on Friday. The company has a fifty day simple moving average of $52.88 and a two-hundred day simple moving average of $51.40. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.64 and a beta of 1.25. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.57. Donaldson has a 52 week low of $46.00 and a 52 week high of $63.15.

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Donaldson (NYSE:DCI – Get Rating) last posted its quarterly earnings results on Wednesday, August 31st. The industrial products company reported $0.84 EPS for the quarter, hitting the consensus estimate of $0.84. The business had revenue of $890.00 million during the quarter, compared to the consensus estimate of $879.61 million. Donaldson had a net margin of 10.07% and a return on equity of 29.89%. The company's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 earnings per share. As a group, equities analysts anticipate that Donaldson will post 3 earnings per share for the current fiscal year.

Donaldson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Tuesday, August 16th were paid a dividend of $0.23 per share. The ex-dividend date was Monday, August 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.78%. Donaldson's payout ratio is currently 34.59%.

Hedge Funds Weigh In On Donaldson

Institutional investors and hedge funds have recently modified their holdings of the company. Artemis Wealth Advisors LLC acquired a new position in shares of Donaldson during the first quarter worth $36,000. Prospera Financial Services Inc acquired a new position in shares of Donaldson during the first quarter worth $38,000. Venture Visionary Partners LLC acquired a new position in shares of Donaldson during the second quarter worth $40,000. Ellevest Inc. grew its stake in shares of Donaldson by 117.2% during the second quarter. Ellevest Inc. now owns 1,275 shares of the industrial products company's stock worth $61,000 after purchasing an additional 688 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Donaldson by 15.6% during the second quarter. Geneos Wealth Management Inc. now owns 1,480 shares of the industrial products company's stock worth $71,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 80.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DCI. StockNews.com lowered shares of Donaldson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 12th. Morgan Stanley cut their target price on Donaldson from $68.00 to $63.00 and set an "overweight" rating on the stock in a research report on Monday, July 18th. Stifel Nicolaus cut their target price on Donaldson from $53.00 to $51.00 in a research report on Monday, July 18th. Finally, Robert W. Baird cut their target price on Donaldson from $61.00 to $59.00 and set an "outperform" rating on the stock in a research report on Thursday, September 1st.

About Donaldson

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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.