Freestone Grove Partners LP Purchases Shares of 52,525 Donaldson Company, Inc. $DCI

Key Points

• Freestone Grove Partners purchased 52,525 Donaldson shares worth approximately $4.7 million in the second quarter. Institutional investors own 82.81% of the company, with several major firms also adding or initiating positions.
• Analysts maintain a favorable outlook, with three Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $101.
• Donaldson exceeded quarterly expectations with adjusted EPS of $1.15 and revenue of $1.06 billion, up 8% year over year. The company also announced a quarterly dividend of $0.32 per share, representing a 1.4% yield.

Freestone Grove Partners LP acquired a new position in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 52,525 shares of the industrial products company's stock, valued at approximately $4,715,000.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in Donaldson during the second quarter valued at about $1,072,012,000. Pictet Asset Management Holding SA increased its stake in Donaldson by 10,438.1% during the first quarter. Pictet Asset Management Holding SA now owns 1,801,481 shares of the industrial products company's stock worth $152,873,000 after acquiring an additional 1,784,386 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Donaldson by 26,235.7% in the 4th quarter. William Blair Investment Management LLC now owns 1,707,872 shares of the industrial products company's stock worth $151,420,000 after purchasing an additional 1,701,387 shares during the period. Norges Bank purchased a new position in shares of Donaldson in the 4th quarter worth about $120,186,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Donaldson in the 2nd quarter valued at about $95,542,000. 82.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DCI. Wall Street Zen upgraded Donaldson from a "hold" rating to a "buy" rating in a report on Sunday, August 9th. Weiss Ratings raised shares of Donaldson from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 20th. Wells Fargo & Company set a $91.00 price objective on shares of Donaldson in a research note on Thursday, June 4th. Stifel Nicolaus set a $95.00 price objective on shares of Donaldson in a research report on Friday. Finally, Robert W. Baird increased their price objective on shares of Donaldson from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $101.00.

Donaldson Price Performance

DCI stock opened at $91.81 on Friday. The firm has a market cap of $10.64 billion, a P/E ratio of 23.85, a price-to-earnings-growth ratio of 2.14 and a beta of 0.92. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.55 and a current ratio of 2.08. Donaldson Company, Inc. has a 1 year low of $78.52 and a 1 year high of $112.84. The stock has a 50-day simple moving average of $92.01 and a 200-day simple moving average of $90.33.

Donaldson (NYSE:DCI - Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The industrial products company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Donaldson had a return on equity of 28.68% and a net margin of 11.68%.Donaldson's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS. Donaldson has set its FY 2027 guidance at 4.220-4.380 EPS. On average, equities analysts predict that Donaldson Company, Inc. will post 4.32 earnings per share for the current fiscal year.

Donaldson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, August 17th. Donaldson's payout ratio is presently 34.41%.

Donaldson Profile

Donaldson Company, Inc NYSE: DCI is a global provider of filtration systems and replacement parts for a wide range of industries. The company develops and manufactures air, liquid and gas filtration solutions for engine and industrial applications, helping customers improve performance, lower emissions and extend equipment life. Donaldson's product portfolio includes engine air intake filters, fuel filters, hydraulic filters, compressor filters, dust collection systems and gas turbine air intake systems.

Serving markets such as agriculture, construction, mining, power generation, aerospace and original equipment manufacturing, Donaldson operates through two primary business segments: Engine Products and Industrial Products.

Want to see what other hedge funds are holding DCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Donaldson Company, Inc. (NYSE:DCI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source