Norges Bank Invests $65.83 Million in Donaldson Company, Inc. (NYSE:DCI)

Norges Bank bought a new stake in Donaldson Company, Inc. (NYSE:DCI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 977,403 shares of the industrial products company's stock, valued at approximately $65,828,000. Norges Bank owned about 0.82% of Donaldson as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted its holdings in Donaldson by 43.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 597 shares of the industrial products company's stock worth $40,000 after purchasing an additional 180 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Donaldson by 89.6% in the fourth quarter. Venturi Wealth Management LLC now owns 781 shares of the industrial products company's stock worth $53,000 after buying an additional 369 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Donaldson by 28.7% during the 4th quarter. GAMMA Investing LLC now owns 925 shares of the industrial products company's stock worth $62,000 after acquiring an additional 206 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Donaldson by 45.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the industrial products company's stock valued at $77,000 after acquiring an additional 353 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in shares of Donaldson in the 4th quarter valued at approximately $91,000. 82.81% of the stock is owned by institutional investors.

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Donaldson Stock Performance

Shares of NYSE:DCI traded down $0.85 during midday trading on Tuesday, hitting $59.02. The company's stock had a trading volume of 894,811 shares, compared to its average volume of 563,798. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 1.85. The stock's 50 day simple moving average is $68.15 and its 200 day simple moving average is $71.12. The stock has a market capitalization of $7.05 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.82 and a beta of 1.01. Donaldson Company, Inc. has a fifty-two week low of $57.45 and a fifty-two week high of $78.95.

Donaldson (NYSE:DCI - Get Free Report) last released its earnings results on Thursday, February 27th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.85 by ($0.02). Donaldson had a net margin of 11.56% and a return on equity of 29.07%. The business had revenue of $870.00 million during the quarter, compared to analyst estimates of $908.32 million. As a group, research analysts anticipate that Donaldson Company, Inc. will post 3.64 earnings per share for the current year.

Donaldson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Thursday, February 13th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Thursday, February 13th. Donaldson's dividend payout ratio is currently 31.58%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Donaldson from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $74.00.

Insider Activity at Donaldson

In other Donaldson news, President Thomas R. Scalf sold 28,500 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $69.22, for a total value of $1,972,770.00. Following the completion of the sale, the president now owns 28,334 shares in the company, valued at approximately $1,961,279.48. This trade represents a 50.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is owned by corporate insiders.

Donaldson Profile

Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. The company operates through three segments: Mobile Solutions, Industrial Solutions, and Life Sciences. Its Mobile Solutions segment provides replacement filters for air and liquid filtration applications, such as air filtration systems; liquid filtration systems for fuel, lube, and hydraulic applications; exhaust and emissions systems and sensors; indicators; and monitoring systems.