Sumitomo Life Insurance Co. Invests $1.16 Million in Donaldson Company, Inc. $DCI

Sumitomo Life Insurance Co. acquired a new position in shares of Donaldson Company, Inc. (NYSE:DCI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,875 shares of the industrial products company’s stock, valued at approximately $1,156,000.

A number of other institutional investors have also recently bought and sold shares of DCI. BlackRock Inc. acquired a new position in Donaldson in the 2nd quarter worth about $1,072,012,000. Pictet Asset Management Holding SA lifted its holdings in shares of Donaldson by 10,438.1% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,801,481 shares of the industrial products company’s stock valued at $152,873,000 after buying an additional 1,784,386 shares during the last quarter. William Blair Investment Management LLC grew its stake 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 valued at $151,420,000 after buying an additional 1,701,387 shares in the last quarter. Norges Bank bought a new stake in shares of Donaldson in the 4th quarter valued at approximately $120,186,000. Finally, Bank of New York Mellon Corp acquired a new position in Donaldson in the second quarter worth approximately $95,542,000. Institutional investors and hedge funds own 82.81% of the company’s stock.

Donaldson Stock Performance

Shares of NYSE DCI opened at $93.19 on Friday. The business’s 50-day simple moving average is $91.30 and its 200-day simple moving average is $90.77. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.55 and a current ratio of 2.35. Donaldson Company, Inc. has a 52 week low of $73.88 and a 52 week high of $112.84. The firm has a market cap of $10.80 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 2.11 and a beta of 0.92.

Donaldson (NYSE:DCI) last posted its earnings results on Monday, June 1st. The industrial products company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.01. The firm had revenue of $995.10 million during the quarter, compared to analyst estimates of $973.65 million. Donaldson had a return on equity of 29.17% and a net margin of 11.52%.The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 EPS. As a group, equities research analysts expect that Donaldson Company, Inc. will post 3.96 earnings per share for the current fiscal year.

Donaldson Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DCI. Weiss Ratings raised shares of Donaldson from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. Wall Street Zen upgraded shares of Donaldson from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. Stifel Nicolaus dropped their price target on shares of Donaldson from $96.00 to $91.00 and set a “hold” rating on the stock in a research note on Thursday, June 4th. Wells Fargo & Company set a $91.00 price target on shares of Donaldson in a report on Thursday, June 4th. Finally, Robert W. Baird lifted their price objective on shares of Donaldson from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.50.

About Donaldson

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.