Short Interest in Donaldson Company, Inc. (NYSE:DCI) Declines By 21.6%

Donaldson Company, Inc. (NYSE:DCI) saw a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 830,600 shares, a drop of 21.6% from the September 15th total of 1,060,000 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average trading volume of 434,400 shares, the days-to-cover ratio is currently 1.9 days.

A number of research firms have weighed in on DCI. Morgan Stanley began coverage on Donaldson in a report on Friday, June 26th. They set an “overweight” rating and a $60.00 target price for the company. Oppenheimer reaffirmed a “hold” rating on shares of Donaldson in a report on Friday, October 9th. Robert W. Baird raised Donaldson from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $54.00 to $56.00 in a report on Friday, October 2nd. Finally, TheStreet raised Donaldson from a “c+” rating to a “b-” rating in a report on Monday, August 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Donaldson presently has an average rating of “Hold” and a consensus price target of $49.80.

Donaldson stock traded down $0.14 during mid-day trading on Friday, hitting $50.97. The company had a trading volume of 303,880 shares, compared to its average volume of 510,992. The company has a current ratio of 2.70, a quick ratio of 1.90 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average price is $48.66 and its two-hundred day moving average price is $46.51. Donaldson has a 12 month low of $31.08 and a 12 month high of $58.32. The company has a market capitalization of $6.44 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 2.42 and a beta of 1.38.

Donaldson (NYSE:DCI) last released its earnings results on Thursday, September 3rd. The industrial products company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.06. The business had revenue of $617.40 million for the quarter, compared to the consensus estimate of $610.66 million. Donaldson had a return on equity of 27.09% and a net margin of 9.95%. The company’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 earnings per share. Equities research analysts anticipate that Donaldson will post 2.02 EPS for the current year.

In related news, Director Ajita G. Rajendra sold 8,861 shares of Donaldson stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $47.97, for a total value of $425,062.17. Following the completion of the sale, the director now owns 38,387 shares of the company’s stock, valued at approximately $1,841,424.39. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.18% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Nuveen Asset Management LLC lifted its stake in Donaldson by 0.8% during the first quarter. Nuveen Asset Management LLC now owns 288,785 shares of the industrial products company’s stock valued at $11,155,000 after purchasing an additional 2,262 shares during the last quarter. Deutsche Bank AG grew its stake in Donaldson by 176.7% during the 1st quarter. Deutsche Bank AG now owns 34,573 shares of the industrial products company’s stock worth $1,336,000 after buying an additional 22,076 shares during the last quarter. Legal & General Group Plc grew its stake in Donaldson by 2.6% during the 1st quarter. Legal & General Group Plc now owns 303,900 shares of the industrial products company’s stock worth $11,739,000 after buying an additional 7,743 shares during the last quarter. Wells Fargo & Company MN grew its stake in Donaldson by 13.6% during the 1st quarter. Wells Fargo & Company MN now owns 609,440 shares of the industrial products company’s stock worth $23,542,000 after buying an additional 72,726 shares during the last quarter. Finally, Balyasny Asset Management LLC purchased a new position in Donaldson during the 1st quarter worth $905,000. 77.62% of the stock is owned by institutional investors and hedge funds.

About Donaldson

Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. It operates through two segments, Engine Products and Industrial Products. The Engine Products segment offers 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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