Donaldson_ Company,_ Inc._ (NYSE:DCI)(0.9%)_ (DCI_ –_ $45.54_ –_ NYSE) based in Minneapolis, Minnesota, is a global manufacturer of filtration systems and replacement parts. The company’s products include air and liquid filtration systems and exhaust and emission control products, serving a multitude of global industrial markets. Parker Hannifin’s 2017 purchase of fellow filter manufacturer Clarcor (CLC) underscores the attractive nature of high quality filter manufacturers, who generate significant cash flow as filters require heavy replacement demand.
From Mario Gabelli (Trades, Portfolio)'s Gabelli Asset Fund second quarter 2017 shareholder letter.
