ProShare Advisors LLC, a financial investment firm, has reduced its holdings in Donaldson Company, Inc. (NYSE: DCI) by 6.5% during the first quarter of this year. This information was disclosed in their recent 13F filing with the Securities and Exchange Commission (SEC). After selling 39,186 shares during the quarter, ProShare Advisors now owns 566,453 shares of Donaldson’s stock. Based on their most recent filing with the SEC, these shares are worth $37,012,000. ProShare Advisors currently holds a 0.47% stake in Donaldson.
In addition to this development, Donaldson recently announced the payment of its quarterly dividend. The dividend was distributed on Wednesday, August 30th to all shareholders recorded as of Tuesday, August 15th. Each shareholder received a dividend payout of $0.25 per share. To qualify for this dividend distribution, investors needed to hold shares before the ex-dividend date on Monday, August 14th.
The annualized dividend for Donaldson is $1.00 per share and it currently offers a dividend yield of 1.63%. At present, Donaldson’s dividend payout ratio (DPR) stands at 34.36%. It is essential to note that DPR calculates the percentage of earnings allocated for dividend payments.
This recent update regarding ProShare Advisors’ reduction in holdings and Donaldson’s dividend announcement sheds light on the company’s financial position and investor relations as of September 14th, 2023. As market conditions and company performance evolve over time, further analysis will be required to gain deeper insights into the implications of these developments on Donaldson Company and its stakeholders.
As always when considering investments or making financial decisions based on market news or analysis, it is important for individuals to conduct thorough research and seek professional advice tailored to their specific circumstances and risk tolerance levels.
Institutional Investors and Analysts Show Growing Interest in Donaldson Company Inc.
In recent months, a number of institutional investors have made significant moves regarding their positions in Donaldson Company Inc. (NYSE: DCI). Norges Bank, for instance, purchased a new position during the fourth quarter of 2022, which was valued at an astounding $63,086,000.
State Street Corp also made headlines when it boosted its stake in Donaldson by 13.9% during the second quarter, bringing its total ownership to 6,767,711 shares worth approximately $325,798,000. The company purchased an additional 824,842 shares during this period.
BlackRock Inc., one of the world’s largest investment management firms, also increased its stake in Donaldson. During the first quarter of this year alone, BlackRock acquired over 413,360 shares worth approximately $571,026.000. This move marked a 3.9% boost in their overall stake.
Morgan Stanley further added to the buzz surrounding Donaldson when it raised its stake by an astonishing 44.7% during the fourth quarter of last year. The purchase amounted to owning 1,308,238 shares valued at $77,o16,o00.
To conclude this series of notable investments is Fuller & Thaler Asset Management Inc., which increased its stake by an impressive 55.5%. The company now owns more than three-quarters of a million shares – precisely 783,o11 – with an estimated value of around $40,o67,o00.
While individual investors have certainly played their role in influencing the market for DCI shares on NYSE —which opened at $61.53 yesterday— these institutional investors collectively hold a staggering 80.35% ownership percentage.
It’s worth noting that DCI has recently attracted attention from analysts as well. Robert W. Baird analysts raised their price target on Donaldson from $67.o0 to $69.o0 and gave the company a highly coveted “outperform” rating. This marked yet another positive endorsement for the industrial products company.
Citigroup, meanwhile, initiated coverage on Donaldson, offering a “neutral” rating alongside a $66.00 price target. They noted that this move was based primarily on valuation analysis.
Finally, StockNews.com bumped up its rating on Donaldson from “buy” to “strong-buy.” This report came out earlier last week and indicated that there were significant investment opportunities to be explored with DCI.
These developments all come against the backdrop of Donaldson’s reported quarterly earnings results at the end of August. The industrial products company met analysts’ expectations by announcing an EPS of $0.78 for the quarter. The business also generated $879.o5 million in revenue during this time, just slightly below the consensus estimate of $896.o5 million.
Donaldson’s return on equity for this period stood at an impressive 30.21%, while the net margin reached 10.46%. It is important to note, however, that the business experienced a slight decline in revenue compared to the same period last year – specifically, a decrease of 1.2%.
As we look ahead, sell-side analysts project an EPS figure of 3.2 for Donaldson Company Inc.’s current fiscal year.
In conclusion, these recent developments highlight the increased interest and activity surrounding Donaldson Company Inc., both from institutional investors and analysts alike. With its strong financial performance and positive outlook, it will be interesting to see how this industrial products company continues to navigate the market in future quarters.