NEW YORK (TheStreet) -- Shares of Donaldson Co (DCI) - Get Report closed trading up 2.49% to $31.28 on Wednesday following the release of the company's first quarter earnings results before the opening bell today.

The Minneapolis, MN-based filtration systems manufacturer reported first quarter net income of $38.5 million, or 34 cents per share on an adjusted basis.

Analysts polled by Zacks were expecting the company to report earnings of 33 cents per share.

Revenue for the period fell 9.8% year over year to $538 million, missing analysts' $553.24 million consensus estimates.

The company also lowered its full year guidance to between $1.49 and $1.69 per share from its previous view between $1.57 and $1.77 per share.

TheStreet Ratings team rates DONALDSON CO INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

We rate DONALDSON CO INC (DCI) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, weak operating cash flow and deteriorating net income.

Image placeholder title

DCI

data by

YCharts

Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.