Norges Bank Invests $120.19 Million in Donaldson Company, Inc. $DCI

Key Points

• Norges Bank disclosed a new stake in Donaldson Company, buying 1,355,580 shares worth about $120.19 million and ending with 1.18% ownership.
• Donaldson reported better-than-expected quarterly earnings, posting $1.06 EPS on revenue of $995.1 million, with revenue up 5.9% year over year.
• The company raised its quarterly dividend to $0.32 per share from $0.30, implying an annualized yield of about 1.5%.

Norges Bank acquired a new stake in Donaldson Company, Inc. (NYSE:DCI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,355,580 shares of the industrial products company's stock, valued at approximately $120,186,000. Norges Bank owned 1.18% of Donaldson at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in shares of Donaldson by 38.2% during the first quarter. Royal Bank of Canada now owns 102,128 shares of the industrial products company's stock worth $6,848,000 after purchasing an additional 28,207 shares during the period. Integrated Wealth Concepts LLC increased its holdings in Donaldson by 16.5% in the first quarter. Integrated Wealth Concepts LLC now owns 3,479 shares of the industrial products company's stock valued at $233,000 after purchasing an additional 494 shares during the period. Millennium Management LLC increased its holdings in Donaldson by 428.6% in the first quarter. Millennium Management LLC now owns 223,976 shares of the industrial products company's stock valued at $15,020,000 after purchasing an additional 181,602 shares during the period. Goldman Sachs Group Inc. raised its position in Donaldson by 29.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 279,525 shares of the industrial products company's stock worth $18,745,000 after purchasing an additional 62,864 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Donaldson by 84.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,032 shares of the industrial products company's stock worth $141,000 after buying an additional 933 shares during the period. 82.81% of the stock is currently owned by institutional investors and hedge funds.

Donaldson Stock Performance

Shares of Donaldson stock opened at $84.20 on Friday. The business has a 50-day moving average price of $85.78 and a two-hundred day moving average price of $91.77. Donaldson Company, Inc. has a 1-year low of $67.71 and a 1-year high of $112.84. The company has a current ratio of 2.35, a quick ratio of 1.46 and a debt-to-equity ratio of 0.35. The company has a market cap of $9.75 billion, a P/E ratio of 22.63, a PEG ratio of 2.15 and a beta of 0.95.

Donaldson (NYSE:DCI - Get Free Report) last announced its quarterly earnings data on Tuesday, June 2nd. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.01. Donaldson had a return on equity of 29.17% and a net margin of 11.52%.The company had revenue of $995.10 million for the quarter, compared to the consensus estimate of $973.65 million. During the same period in the previous year, the business earned $0.99 EPS. The firm's revenue was up 5.9% compared to the same quarter last year. Donaldson has set its FY 2026 guidance at 3.940-4.010 EPS. As a group, analysts anticipate that Donaldson Company, Inc. will post 3.97 EPS for the current year.

Donaldson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.5%. This is a boost from Donaldson's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, June 15th. Donaldson's payout ratio is presently 34.41%.

Insider Activity

In other Donaldson news, Director James Owens sold 13,753 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $89.21, for a total transaction of $1,226,905.13. Following the transaction, the director directly owned 22,565 shares in the company, valued at approximately $2,013,023.65. This represents a 37.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 19,800 shares of company stock worth $1,765,184. 2.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on DCI. Stifel Nicolaus reduced their price target on Donaldson from $96.00 to $91.00 and set a "hold" rating on the stock in a research report on Thursday. Robert W. Baird cut their price objective on Donaldson from $104.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, March 30th. Wall Street Zen cut Donaldson from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. Wells Fargo & Company set a $91.00 target price on shares of Donaldson in a research report on Thursday. Finally, UBS Group set a $96.00 price target on shares of Donaldson in a report on Tuesday, February 24th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $97.83.

Donaldson Company 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.

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