Latest news for Donaldson (NYSE:DCI) Stock

Donaldson

Donaldson is a leading manufacturer of filtration systems and replacement parts (including air filtration systems, liquid filtration systems, and dust, fume, and mist collectors). The company serves a diverse range of end markets, including construction, mining, agriculture, truck, and industrial. Its business is organized into three segments: mobile solutions, industrial solutions, and life sciences. Donaldson generated approximately $3.6 billion in revenue and $544 million in operating income in its fiscal 2024.

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Major stock indices in the United States ended lower on Jul 17, 2024, pulled down by microchip stocks&#39; decline. Notably, microchip stocks sank following news reports that the Biden administration might impose severe trade restrictions against China in a bid to contain the availability of semiconductor technology to the latter.  

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Growth concerns dragged stocks lower on Tuesday, with all major indices trading in the red as investors took a cautious tone on riskier assets. 

Stocks Dip Even With Traders Hopeful For September Rate Cut; Bonds Extend Rally, Oil Plummets: What&#39;s Driving Markets Tuesday?

Donaldson Co Inc

A substantial insider activity was disclosed on September 19, as Owens, Director at Donaldson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>), reported the exercise of a large sell of company stock options.
What Happened: Owens, Director at Donaldson, exercised stock options for 14,000 shares of DCI stock. This information was disclosed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000029644/000002964424000097//Archives/edgar/data/29644/000002964424000097/0000029644-24-000097-index.htm">U.S. Securities and Exchange Commission</a> on Thursday. The exercise price of the options was $38.47 per share.
The latest update on Friday morning shows Donaldson shares down by 0.0%, trading at $73.17. At this price, Owens's 14,000 shares are worth $485,800.
<h3>Get to Know Donaldson Better</h3>
Donaldson is a leading manufacturer of filtration systems and replacement parts (including air filtration systems, liquid filtration systems, and dust, fume, and mist collectors). The company serves a diverse range of end markets, including construction, mining, agriculture, truck, and industrial. Its business is organized into three segments: mobile solutions, industrial solutions, and life sciences. Donaldson generated approximately $3.6 billion in revenue and $544 million in operating income in its fiscal 2024.
<h3>Donaldson: Financial Performance Dissected</h3>
Positive Revenue Trend: Examining Donaldson's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 0.81% as of 31 July, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Industrials sector.
Interpreting Earnings Metrics:
<ul>
<li>
Gross Margin: With a low gross margin of 35.79%, the company exhibits below-average profitability, signaling potential struggles in cost efficiency compared to its industry peers.
</li>
<li>
Earnings per Share (EPS): Donaldson's EPS is below the industry average, signaling challenges in bottom-line performance with a current EPS of 0.91.
</li>
</ul>
Debt Management: Donaldson's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.36.
Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: Donaldson's P/E ratio of 21.65 is below the industry average, suggesting the stock may be undervalued.
</li>
<li>
Price to Sales (P/S) Ratio: The P/S ratio of 2.5 is lower than the industry average, implying a discounted valuation for Donaldson's stock in relation to sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): With an EV/EBITDA ratio lower than industry averages at 13.91, Donaldson could be considered undervalued.
</li>
</ul>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
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<h3>The Relevance of Insider Transactions</h3>
While insider transactions provide valuable information, they should be part of a broader analysis in making investment decisions.
When discussing legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated in Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are required to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
A new purchase by a company insider is a indication that they anticipate the stock will rise.
On the other hand, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>Cracking Transaction Codes</h3>
In the domain of transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> frequently turn their focus to those taking place in the open market, as meticulously outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000029644">Check Out The Full List Of Donaldson's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Engaging In Options Activity, James Owens Exercises Options Valued At $485K In Donaldson

Stifel analyst Nathan Jones maintains Donaldson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) with a Hold and lowers the price target from $76 to $71.

Price Target

Stifel Maintains Hold on Donaldson, Lowers Price Target to $71

Wall Street faces a wave of risk-off sentiment on Wednesday, as traders adopt a cautious stance ahead of NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) earnings, which are set to be released <a href="https://www.benzinga.com/trading-ideas/24/08/40604296/nvidias-next-earnings-report-could-swing-its-market-cap-by-300-billion-and-increase-the-s-p-500-gai">after the market close.</a>
At midday trading in New York, all major equity indices were in the red, weighed down by broad declines in chipmakers and tech stocks.
The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) fell 2%, underperforming the broader tech-heavy Nasdaq 100, down 1.1%. 
The CBOE Volatility Index or VIX, a key barometer of the fear in the market, rose 8%. 
As the last of the Magnificent Seven megacaps to report earnings, Nvidia&#8217;s results are viewed as a crucial indicator of whether the recent market rebound has more room to run, potentially pushing toward new all-time highs, or if it&#8217;s time for investors to dial back risk.
Key metrics to watch include whether Nvidia surpasses the projected $28.7 billion in quarterly revenue — a staggering 156% increase from the same quarter last year — and $0.645 earnings per share, more than triple from the same period in 2022. 
Nvidia&#8217;s forward guidance will also be critical, as investors seek insight into the demand for its leading AI-related chips and any challenges posed by China.
In a significant achievement during Wednesday&#8217;s session, Warren Buffett&#8217;s Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) reached <a href="https://www.benzinga.com/top-stories/24/08/40604676/warren-buffetts-berkshire-hathaway-breaks-1-trillion-poll-points-to-big-pharma-not-tech-as-next-cont">the milestone of a $1 trillion market valuation.</a>
The U.S. dollar is showing a modest recovery, up 0.4% after closing Tuesday at its lowest level since July 2023. Treasury yields remain stable, while gold is struggling, down 0.6%, with silver experiencing a sharper 2% decline.
Oil prices continue to fall, with WTI crude down 1.3%, as traders unload the risk premium amid easing geopolitical tensions in the Middle East and less concerning Libyan production disruptions than initially feared.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remains under pressure, down 1% to $58,850, following a more than 7% decline over the past two sessions.
<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,053.09</td>
<td>-0.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,592.49</td>
<td>-0.6%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,191.39</td>
<td>-0.6%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,362.15</td>
<td>-1.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:10 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082824&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.7% down to $557.94.</li>
<li>The SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) eased down 0.4% to $411.11.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) declined 1.2% to $470.98.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.7% to $217.34.</li>
<li>The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, up by 0.2%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down by 1.5%.</li>
</ul>
<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>
<ul>
<li>Super Micro Computer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NYSE">SMCI</a>) plunged 26% after announcing it won&#8217;t meet the deadline to file its annual Form 10-K for the fiscal year ended June 30. This comes just a day after short-seller <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40606308/super-micro-computer-short-report-shows-limited-evidence-of-accounting-wrongdoing-a">Hindenburg Research released</a> a report accusing the company of accounting manipulation.</li>
<li>Other crypto-related stocks weakened, with CleanSpark Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>), Coinbase Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Marathon Digital Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) down 5.3%, 4.7% and 4.6% respectively. </li>
<li>Chewy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) rallied 14% in reaction to its upbeat quarterly earnings.</li>
<li>Other stocks reacting to company earnings were Abercrombie &amp; Fitch Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) down 17%, Ambarella Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>) up 9%, Bath &amp; Body Works, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>) down 6%, Box Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) up 7.5%, Donaldson Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) down 4.3%, Foot Locker Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) down 12%, Nordstrom Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) up 4%, PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) up 6.6%, SentinelOne Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) down 2% and J.M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) down 5.8%.</li>
<li>Companies reporting after the close included Nvidia Corp., Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>), Veeva Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>), NetApp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>), Pure Storage Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>), Cooper Companies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COO#NASDAQ">COO</a>), Okta Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>), Nutanix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>), Affirm Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), Five Below Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) and Victoria Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>).</li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/08/40604424/10-etfs-poised-for-wild-swings-following-nvidia-earnings">10 ETFs Poised For Wild Swings Following Nvidia Earnings</a> Don&#8217;t miss the opportunity to dominate in a volatile market at the <a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference</a> on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. Get exclusive access to CEO presentations, 1:1 meetings with investors and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today! Photo: Shutterstock</li>
</ul>

US Stocks, Chipmakers Fall Ahead Of Nvidia Earnings, Berkshire Hits $1 Trillion, Super Micro Computer Sinks: What's Driving Markets Wednesday?

Guidance

Donaldson Expects FY25 Adj. EPS Of $3.56-$3.72 Vs. Est. $3.68; Sales Projected To Increase 2%-6% YoY

Donaldson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) reported quarterly earnings of $0.94 per share which beat the analyst consensus estimate of $0.89 by 5.62 percent. The company reported quarterly sales of $935.400 million which missed the analyst consensus estimate of $942.845 million by 0.79 percent. This is a 6.36 percent increase over sales of $879.500 million the same period last year.

Earnings Beats

Earnings Misses

Donaldson Q4 2024 Adj. EPS $0.94 Beats $0.89 Estimate, Sales $935.400M Miss $942.845M Estimate

Donaldson's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) short percent of float has fallen 5.58% since its last report. The company recently reported that it has 1.75 million shares sold short, which is 1.86% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.89 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Donaldson Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721925020_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Donaldson has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Donaldson's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Donaldson's peer group average for short interest as a percentage of float is 3.28%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Looking Into Donaldson's Recent Short Interest

Major stock indices in the United States ended lower on Jul 17, 2024, pulled down by microchip stocks&#39; decline. Notably, microchip stocks sank following news reports that the Biden administration might impose severe trade restrictions against China in a bid to contain the availability of semiconductor technology to the latter. &nbsp;
Against this backdrop, stock market players might not feel confident in making investments as trade tensions between these two economic giants sometimes result in global market imbalance. However, a prudent investor knows that one can buy stocks that are safe bets in periods of market decline. To this end, we recommend stocks like Vital Farms (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vitl#NASDAQ">VITL</a>), Donaldson (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dci#NYSE">DCI</a>), Atmos Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ato#NYSE">ATO</a>), First Solar (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fslr#NASDAQ">FSLR</a>) and Skechers (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/skx#NYSE">SKX</a>) that have low leverage. Choosing them can shield investors from incurring huge losses in times of crisis.
Now, before selecting low-leverage stocks, let&#39;s explore what leverage is and how choosing a low-leverage stock helps investors.
In finance, leverage is a term used to denote the practice of borrowing capital by companies to run their operations smoothly and expand the same. Such borrowings are done through debt financing. But there remains an option for equity finance. This is probably due to the cheap and easy availability of debt over equity financing.
However, debt financing has its share of drawbacks. Particularly, it is desirable only as long as it successfully generates a higher rate of return compared to the interest rate. So, to avoid considerable losses in your portfolio, one should always avoid companies that resort to excessive debt financing.
The crux of safe investment lies in choosing a company that is not burdened with debt, as a debt-free stock is almost impossible to find.
The equity market can be volatile at times, and, as an investor, if you don&#39;t want to lose big time, we suggest you invest in stocks that bear low leverage and are, hence, less risky.
To identify such stocks, historically, several leverage ratios have been developed to measure the amount of debt a company bears. The debt-to-equity ratio is one of the most common ratios.
<h3>Analyzing Debt/Equity</h3>
Debt-to-Equity Ratio = Total Liabilities/Shareholders&#39; Equity
This metric is a liquidity ratio that indicates the amount of financial risk a company bears. A lower debt-to-equity ratio reflects improved solvency for a company.
With the start of the second-quarter earnings season, investors must be eyeing stocks that have exhibited solid earnings growth in the recent past. But if a stock bears a high debt-to-equity ratio in times of economic downturn, its so-called booming earnings picture might turn into a nightmare.
<h3>The Winning Strategy</h3>
Considering the factors above, it is prudent to choose stocks with a low debt-to-equity ratio to ensure steady returns.
Yet, an investment strategy based solely on the debt-to-equity ratio might not fetch the desired outcome. To choose stocks that have the potential to give you steady returns, we have expanded our screening criteria to include some other factors.
<h3>Here are the other parameters:</h3>
Debt/Equity less than X-Industry Median: Stocks that are less leveraged than their industry peers.
Current Price greater than or equal to 10: The stocks must be trading at a minimum of $10 or above.
Average 20-day Volume greater than or equal to 50000: A substantial trading volume ensures that the stock is easily tradable.
Percentage Change in EPS F(0)/F(-1) greater than X-Industry Median: Earnings growth adds to optimism, leading to a stock&#39;s price appreciation.
VGM Score of A or B: Our research shows that stocks with a VGM Score of A or B, when combined with a Zacks Rank #1 (Strong Buy) or 2 (Buy), offer the best upside potential.
Estimated One-Year EPS Growth F(1)/F(0) greater than 5: This shows earnings growth expectation.
Zacks Rank #1 or 2: Irrespective of market conditions, stocks with a Zacks Rank #1 or 2 have a proven history of success.
Excluding stocks that have a negative or a zero debt-to-equity ratio, here we present our five picks out of the 23 stocks that made it through the screen.
Vital Farms: The company offers a range of produced pasture-raised foods, which include shell eggs, butter, hard-boiled eggs, ghee and liquid whole eggs. On Jun 26, 2024, Vital Farms revealed plans to expand its resilient supply chain with a second world-class egg washing and packing facility located in Seymour, IN. The new 72-acre facility will enable Vital Farms to continue growing its pasture-raised egg business and is expected to help generate more than $350 million in additional revenues.
VITL delivered an average four-quarter earnings surprise of 102.10%. It currently sports a Zacks Rank #1. The Zacks Consensus Estimate for VITL&#39;s 2024 sales suggests a solid 22.6% improvement from the 2023 reported figure.
Donaldson: It is engaged in the manufacturing and sale of filtration systems and replacement parts across the world. On Jul 3, 2024, Donaldson announced that through Its Univercells Technologies business, the company has expanded its relationship with the Gene Therapy Program at the University of Pennsylvania to evaluate certain bioreactors for scalable gene therapy production. Univercells Technologies developed the scale-X bioreactor, which was originally designed to lower the cost of viral vaccine production for critical public health vaccines. It is now being applied to enable viral vector accessibility for gene therapies.
DCI currently holds a Zacks Rank #2. The company boasts a long-term earnings growth rate of 10.5%. The Zacks Consensus Estimate for DCI&#39;s 2024 sales suggests a 4.6% improvement from the 2023 reported quarter.
Atmos Energy: It is engaged in regulated natural gas distribution and storage business. On May 8, 2024, Atmos Energy announced second-quarter fiscal 2024 results. Its earnings per share came in at $4.93, higher than the year-ago quarter&#39;s level of $4.40.
The company boasts a long-term earnings growth rate of 7%. The Zacks Consensus Estimate for ATO&#39;s fiscal 2024 sales implies an increase of 9.4% from fiscal 2023 sales. ATO currently carries a Zacks Rank #2.
First Solar: It is a leading global provider of comprehensive photovoltaic (PV) solar energy solutions and specializes in designing, manufacturing, and selling solar electric power modules using a proprietary thin-film semiconductor technology. On Jun 4, 2024, First Solar revealed that its Series 6 Plus and Series 7 TR1 products are the world&#39;s first PV solar modules to achieve the EPEAT Climate+ designation. This makes FSLR&#39;s modules the first to meet the global standard of ultra-low carbon threshold of less-than-equal-to 400 kg CO2e/kWp.
FSLR currently carries a Zacks Rank #2. The Zacks Consensus Estimate for 2024 sales implies an improvement of 36.5% from the 2023 reported sales figure. FSLR has a long-term earnings growth rate of 56.2%.
Skechers: It designs, develops, markets, and distributes footwear for men, women, and children in the United States and overseas under the SKECHERS name, as well as under several unique brand names. On Jul 4, 2024, Skechers announced that Mohammed Kudus, the Ghana national football team player, has been signed on as a Skechers athlete and is set to appear in multiplatform marketing campaigns supporting Skechers Football.
SKX currently holds a Zacks Rank #2. The company boasts a long-term earnings growth rate of 17.2%. The Zacks Consensus Estimate for SKX&#39;s 2024 sales suggests a 10.6% improvement from the 2023 reported figure.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
<a href="https://www.zacks.com/stock/news/2304156/5-low-leverage-stocks-to-buy-amid-u-s-china-trade-tension?cid=CS-BENZ-FT-analyst_blog|rw-2304156">To read this article on Zacks.com click here.</a>

Program Led By James M. Wilson, MD, PhD, At Perelman School Of Medicine

Donaldson's Univercells Technologies Expands Evaluation Agreement With University Of Pennsylvania's Gene Therapy Program; Aims To Determine Scalability Of Gene Therapy Manufacturing Using Univercells' Bioreactors

A large exercise of company stock options by Scott Robinson, Chief Financial Officer at Donaldson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) was disclosed in a new SEC filing on July 3, as part of an insider exercise.
What Happened: Disclosed in a Form 4 filing on Wednesday with the <a href="https://www.sec.gov/Archives/edgar/data/0000029644/000002964424000078//Archives/edgar/data/29644/000002964424000078/0000029644-24-000078-index.htm">U.S. Securities and Exchange Commission</a>, Robinson, Chief Financial Officer at Donaldson, executed a strategic derivative sale. This involved exercising stock options for 37,600 shares of DCI, resulting in a transaction value of $956,919.
As of Wednesday morning, Donaldson shares are down by 0.0%, with a current price of $70.88. This implies that Robinson's 37,600 shares have a value of $956,919.
<h3>Unveiling the Story Behind Donaldson</h3>
Donaldson is a leading manufacturer of filtration systems and replacement parts (including air filtration systems, liquid filtration systems, and dust, fume, and mist collectors). The company serves a diverse range of end markets, including construction, mining, agriculture, truck, and industrial. Its business is organized into three segments: mobile solutions, industrial solutions, and life sciences. Donaldson generated approximately $3.4 billion in revenue and $480 million in operating income in its fiscal 2023.
<h3>Donaldson: A Financial Overview</h3>
Positive Revenue Trend: Examining Donaldson's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 5.96% as of 30 April, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Industrials sector.
Key Insights into Profitability Metrics:
<ul>
<li>
Gross Margin: The company shows a low gross margin of 35.58%, suggesting potential challenges in cost control and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Donaldson's EPS reflects a decline, falling below the industry average with a current EPS of 0.94.
</li>
</ul>
Debt Management: Donaldson's debt-to-equity ratio is below the industry average. With a ratio of 0.37, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The current P/E ratio of 22.01 is below industry norms, indicating potential undervaluation and presenting an investment opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: The Price to Sales ratio is 2.46, which is lower than the industry average. This suggests a possible undervaluation based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Donaldson's EV/EBITDA ratio, lower than industry averages at 14.01, indicates attractively priced shares.
</li>
</ul>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
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<h3>The Relevance of Insider Transactions</h3>
Insider transactions are not the sole determinant of investment choices, but they are a factor worth considering.
When discussing legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated in Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are required to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
A new purchase by a company insider is a indication that they anticipate the stock will rise.
On the other hand, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>Exploring Key Transaction Codes</h3>
<a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates grant, award or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000029644">Check Out The Full List Of Donaldson's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Decision: Scott Robinson Exercises Options At Donaldson For $956K

Raymond James analyst Tim Thein initiates coverage on Donaldson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) with a Market Perform rating.

Initiation

Raymond James Initiates Coverage On Donaldson with Market Perform Rating

Growth concerns dragged stocks lower on Tuesday, with all major indices trading in the red as investors took a cautious <a href="https://www.benzinga.com/economics/macro-economic-events/24/06/39165539/bond-market-rallies-as-recession-worries-mount-rate-cut-bets-gain-steam-ahead-of-">tone on riskier assets. </a>
The S&amp;P 500 faced selling pressure when attempting to break above 5,300 levels. It traded down 0.4% by midday in New York.
Major large-cap indices showed only marginal dips and small caps felt the brunt of the selloff while the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) was down 1.4%.
<h3 class="wp-block-heading">On The Macro Front</h3>
Tuesday witnessed further indication of a potential slowing economic momentum, as already surfaced last week and on Monday. 
The number of job openings in April fell sharply by 296,000, reaching the lowest level since February 2021 and missing expectations.
In response, traders increased their bets on a Federal Reserve rate cut in September. The CME Group Fed Watch tool now shows a 65% chance of a cut, up significantly from 46% last week. 
The prospect of lower interest rates boosted bond prices, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rising 1%, on track for its fourth consecutive gain. 
This rally benefited interest-rate sensitive stocks like real estate, which outperformed in the S&amp;P 500.
Commodities took a tumble, with cyclical plays like copper, silver, and crude oil down 3%, 4% and 1.5%, respectively. 
Oil prices are now down for five straight days, with the WTI trading at about $72 a barrel and heading to the lowest close in four months. 
Bucking the overall bearish sentiment, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) surged 3%, breaking above $70,000.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day (% Chg)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,491.46</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,541.04</td>
<td>-0.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,261.48</td>
<td>-0.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,031.81</td>
<td>-1.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:15 p.m. ET</figcaption></figure>
According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.5% lower to $525.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.2% to $385.46.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) fell 0.4% to $451.41</li>
<li>Sector-wise, the&nbsp;Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)&nbsp;outperformed, up by 0.9%, while the&nbsp;Materials Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) lagged, down 1.6%.</li>
</ul>
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>
<ul>
<li>Saia Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIA#NASDAQ">SAIA</a>) surged over 7% on strong less-than-truckload (LTL) shipment growth. The company reported an 18% increase in LTL shipments per workday in April year-over-year, and an even stronger 18.6% increase in May year-over-year.</li>
<li>Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) jumped over 4% on Tuesday after the company announced a strategic move to absorb the P&amp;O Cruises Australia brand into Carnival Cruise Line starting in 2025. Industry-peer Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) rose 3%. </li>
<li>Crypto-related stocks including Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and Marathon Digital Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) rose by 5.6% and 6.5% respectively, amid improving Bitcoin price momentum. </li>
<li>Energy-linked corporates faced losses amid weaker oil prices. Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) fell 2.3%, while Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) eased 1.5%. </li>
<li>Bath &amp; Body Works Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>) tumbled 13% in reactions to the company&#8217;s quarterly results. </li>
<li>Other stocks reacting to earnings were Ferguson plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FERG#NYSE">FERG</a>) down 2%, Core &amp; Main Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNM#NYSE">CNM</a>) down 16% and Donaldson Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>), up 1%. </li>
<li>Companies scheduled to report after the close include CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) and Guidewire Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>). </li>
</ul>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39162932/indian-stocks-tumble-the-most-since-march-2020-with-modis-party-set-to-lose-majorit">Indian Stocks Tumble The Most Since March 2020 With Modi&#8217;s Party Set To Lose Majority</a>
Image: Midjourney

Stocks Dip Even With Traders Hopeful For September Rate Cut; Bonds Extend Rally, Oil Plummets: What's Driving Markets Tuesday?

Donaldson (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dci#NYSE">DCI</a>) came out with quarterly earnings of $0.92 per share, beating the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $0.76 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 9.52%. A quarter ago, it was expected that this maker of filtration systems would post earnings of $0.73 per share when it actually produced earnings of $0.81, delivering a surprise of 10.96%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Donaldson, which belongs to the Zacks Pollution Control industry, posted revenues of $927.9 million for the quarter ended April 2024, surpassing the Zacks Consensus Estimate by 0.90%. This compares to year-ago revenues of $875.7 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Donaldson shares have added about 10.1% since the beginning of the year versus the S&amp;P 500&#39;s gain of 10.8%.
What&#39;s Next for Donaldson?
While Donaldson has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Donaldson: favorable. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.88 on $933.4 million in revenues for the coming quarter and $3.28 on $3.58 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Pollution Control is currently in the bottom 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Industrial Products sector, Enerpac (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/epac#NYSE">EPAC</a>), has yet to report results for the quarter ended May 2024.
This industrial products company is expected to post quarterly earnings of $0.47 per share in its upcoming report, which represents a year-over-year change of +20.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Enerpac&#39;s revenues are expected to be $153.2 million, down 2% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2283091/donaldson-dci-q3-earnings-and-revenues-beat-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2283091">To read this article on Zacks.com click here.</a>

EPAC

Donaldson Q3 Earnings and Revenues Beat Estimates

U.S. stocks traded lower this morning, with the Dow Jones falling more than 70 points on Tuesday.
Following the market opening Tuesday, the Dow traded down 0.20% to 38,493.85 while the NASDAQ fell 0.22% to 16,790.91. The S&amp;P 500 also fell, dropping, 0.24% to 5,270.55.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/06/39156066/top-3-financial-stocks-youll-regret-missing-this-quarter">Top 3 Financial Stocks You&#8217;ll Regret Missing This Quarter</a>
Leading and Lagging Sectors Real estate shares rose by 0.2% on Tuesday.
In trading on Tuesday, energy shares fell by 1.7%.
Top Headline
Donaldson Company Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) reported better-than-expected third-quarter earnings and raised its FY24 guidance.
Sales increased 6.0% Y/Y to $927.9 million beating the consensus of $915.8 million, led by higher volume growth and pricing benefits. Adjusted EPS rose 21.7% Y/Y to 92 cents, beating the consensus of 83 cents.
Donaldson raised its FY24 EPS forecast to $3.33-$3.39 (vs. consensus of $3.27) from $3.24-$3.32. The company now anticipates sales growth of 4%-6% Y/Y (vs. 3%-7% earlier).
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>MicroAlgo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLGO#NASDAQ">MLGO</a>) shares shot up 284% to $5.99 after the company announced that it will jointly establish a micro-consciousness quantum research center with WiMi.</li>
<li>Shares of Sobr Safe Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOBR#NASDAQ">SOBR</a>) got a boost, surging 101% to $0.53 after the company announced SOBRsure device purchases from two new customers.</li>
<li>WiMi Hologram Cloud Inc &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIMI#NASDAQ">WIMI</a>) shares were also up, gaining 34% to $1.16 after the company announced that the company and MicroAlgo will jointly establish a micro-consciousness quantum research center.</li>
</ul>
<h3 class="wp-block-heading">Equities Trading DOWN</h3>
<ul>
<li>ENDRA Life Sciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDRA#NASDAQ">NDRA</a>) shares dropped 65% to $0.076 after the company announced pricing of $8.0 million public offering.</li>
<li>Shares of Avalon Globocare Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALBT#NASDAQ">ALBT</a>) were down 26% to $0.91 after surging 317% on Monday.</li>
<li>Equillium Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EQ#NASDAQ">EQ</a>) was down, falling 20% to $1.18 after the company announced topline data from its Phase 2 study of EQ101 in alopecia areata.</li>
</ul>
Also Check This Out: <a href="https://www.benzinga.com/news/24/06/39156811/wall-streets-most-accurate-analysts-views-on-3-utilities-stocks-with-over-4-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Utilities Stocks With Over 4% Dividend Yields</a>
Commodities In commodity news, oil traded down 1.8% to $72.91 while gold traded down 1% at $2,346.60.
Silver traded down 3.1% to $29.84 on Tuesday, while copper fell 2.2% to $4.5660.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.6%, Germany's DAX dipped 1% and France's CAC 40 fell 0.8%. Spain's IBEX 35 Index declined 1.2%, while London's FTSE 100 fell 0.5%.
German jobless rate came in unchanged at 5.9% for the sixth straight month in May. Retail sales in the UK gained 0.4% from a year ago in May following a 4.4% decline in the prior month.
Asia Pacific Markets
Asian markets closed mixed on Tuesday, with Japan's Nikkei falling 0.22%, China's Composite Index gaining 0.14%, Hong Kong's Hang Seng Index climbing 0.22% and India's S&amp;P BSE Sensex dipping 5.74%.
Australia reported a current account deficit of AUD 4.9 billion in the first quarter, versus a revised surplus of AUD 2.7 billion in the fourth quarter. Retail sales in Australia increased by 0.1% month-over-month in April compared to a 0.4% decline in the previous period.
Economics
The Logistics Manager's Index rose to 55.6 in May from a reading of 52.9 in April.
Now Read This: <a href="https://www.benzinga.com/news/24/06/39157476/nvidia-to-rally-around-11-here-are-10-top-analyst-forecasts-for-tuesday">Nvidia To Rally Around 11%? Here Are 10 Top Analyst Forecasts For Tuesday</a>

Movers

ALBT

MLGO

NDRA

SOBR

WIMI

US Stocks Lower; Donaldson Earnings Beat Views

Donaldson Company, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) shares are trading higher after the company reported third-quarter FY24 results and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/b39153899/donaldson-reports-record-third-quarter-fiscal-year-2024-sales-and-earnings" rel="noreferrer noopener">raised EPS guidance</a>.
Sales increased 6.0% Y/Y to $927.9 million beating the consensus of $915.8 million, led by higher volume growth and pricing benefits.
By Segment, Mobile Solutions sales surged 5.5% Y/Y and Industrial Solutions sales grew 2.9% Y/Y, aided by higher volumes and pricing.
Life Sciences segment sales increased 24.2% Y/Y, led by strong volume growth from Bioprocessing Equipment sales timing and Disk Drive.
Gross margin expanded 260 basis points Y/Y to 35.6% on higher sales, pricing benefits and, input cost deflation.
Adjusted EPS rose 21.7% Y/Y to $0.92, <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the consensus of $0.83</a>.
Year-to-date, Donaldson paid $90.3 million in dividends and repurchased shares worth $114.0 million.
Last week, the Board of Directors declared a cash dividend per share of 27.0 cents, an increase of 8.0% from the prior quarterly dividend, payable June 28, 2024, to <a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b39117340/donaldson-company-increases-quarterly-cash-dividend-8-0" rel="noreferrer noopener">shareholders of record on June 17, 2024</a>.
Tod Carpenter, chairman, president, and chief executive officer, said, &#8220;Despite mixed end-market conditions, we maintained focus on our customers and delivered our technology-led filtration products and services across our diversified portfolio of businesses.&#8221;
&#8220;Looking ahead, we remain committed to returning value to our shareholders through the execution of our longer-term strategic initiatives and continued progress towards our fiscal 2026 Investor Day targets.&#8221;
FY24 Outlook: Donaldson raises EPS forecast&nbsp;to&nbsp;$3.33-$3.39 (vs. <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of&nbsp;$3.27) from&nbsp;$3.24-$3.32</a>.
The company now anticipates sales growth of&nbsp;4%-6%&nbsp;Y/Y (vs.&nbsp;3%-7%&nbsp;earlier), with a pricing benefit of around 2% and a negligible impact from currency translation. Donaldson projects mobile sales growth to be 2%-4% (prior view 1%-5%) for FY24.&nbsp;
For the full year, Donaldson anticipates repurchasing approximately&nbsp;2%&nbsp;of its shares outstanding.
Investors can gain exposure to the stock via VanEck Environmental Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVX#NYSE">EVX</a>) and VanEck Green Infrastructure ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNEW#NASDAQ">RNEW</a>).
Price Action: DCI shares are up 5.63% at $76.00 premarket at the last check Tuesday.
Photo via Shutterstock

Market Vectors Environmental Services Index Fund

RNEW

Why Is Filtration Company Donaldson Stock Jumping Premarket Today?

WIIM

Donaldson shares are trading higher after the company reported better-than-expected Q3 earnings and raised its FY24 guidance.

Donaldson Raises FY24 EPS Forecast From $3.24-$3.32 To $3.33-$3.39, Est. $3.27; Sales Now Projected To Increase 4%-6% YoY Vs. 3%-7% YoY Earlier

Donaldson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) reported quarterly earnings of $0.92 per share which beat the analyst consensus estimate of $0.83 by 10.84 percent. The company reported quarterly sales of $927.900 million which beat the analyst consensus estimate of $915.836 million by 1.32 percent. This is a 5.96 percent increase over sales of $875.700 million the same period last year.

Donaldson Q3 2024 Adj EPS $0.92 Beats $0.83 Estimate, Sales $927.900M Beat $915.836M Estimate

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, but the index remained in the &#8220;Neutral&#8221; zone on Monday.
U.S. stocks settled mixed on Monday, with the Dow Jones index falling more than 100 points during the session following weak U.S. manufacturing data.
On the economic data front, U.S. construction spending declined by 0.1% month-over-month to an annual rate of $2,099 billion in April compared to a 0.2% decline in the previous month and versus market estimates of a 0.2% increase. The ISM manufacturing PMI fell to 48.7 in May versus 49.2 in April, and market expectations of 49.6.
U.S. major indices notched gains in May. The Dow gained 2.3% last month, while the S&amp;P 500 added 4.8% in May.
Shares of NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) gained around 5% on Monday after the company unveiled its new AI chips. GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) shares jumped 21% after Roaring Kitty on a Reddit post, shared his position on the stock.
Most sectors on the S&amp;P 500 closed on a negative note, with industrials, utilities and energy stocks recording the biggest losses on Monday. However, information technology and health care stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 115 points to 38,571.03 on Monday. The S&amp;P 500 rose 0.11% at 5,283.40, while the Nasdaq Composite climbed 0.56% at 16,828.67 during Monday's session.
Investors are awaiting earnings results from Donaldson Company, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>), Bath &amp; Body Works, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>) and Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) today.
At a current reading of 51.1, the index was in the &#8220;Neutral&#8221; zone on Monday, versus a prior reading of 48.9.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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Pre-Market Outlook

Investor Sentiment Improves, But Dow Falls Over 100 Points

With U.S. stock futures trading lower this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Donaldson Company, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) to report quarterly earnings at 83 cents per share on revenue of $915.84 million before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Donaldson shares fell 2.4% to close at $71.95 on Monday.</li>
<li>HealthEquity, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HQY#NASDAQ">HQY</a>) reported better-than-expected first-quarter financial results. The company reported quarterly earnings of 80 cents per share which beat the analyst consensus estimate of 66 cents. HealthEquity issued strong FY25 earnings guidance and also issued FY25 revenue guidance with its midpoint above expectations. HealthEquity shares climbed 5.9% to $86.00 in the after-hours trading session.</li>
<li>Analysts are expecting Bath &amp; Body Works, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>) to post quarterly earnings at 32 cents per share on revenue of $1.36 billion. The company will release earnings before the markets open. Bath &amp; Body Works shares gained 1.9% to $52.80 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>BARK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BARK#NYSE">BARK</a>) reported downbeat financial results for its fourth quarter and issued FY25 revenue guidance below estimates. BARK shares dipped 10.7% to $1.25 in the after-hours trading session.</li>
<li>Analysts expect Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) to post quarterly earnings at 39 cents per share on revenue of $6.82 billion after the closing bell. Hewlett Packard Enterprise shares rose 0.3% to $18.01 in the after-hours trading session.</li>
</ul>
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BARK

Donaldson, Hewlett Packard Enterprise And 3 Stocks To Watch Heading Into Tuesday

Baird analyst Richard Eastman maintains Donaldson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) with a Outperform and lowers the price target from $80 to $79.

Baird Maintains Outperform on Donaldson, Lowers Price Target to $79

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