DnB Asset Management AS raised its stake in shares of Nordson Co. (NASDAQ:NDSN – Get Rating) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,697 shares of the industrial products company's stock after acquiring an additional 445 shares during the quarter. DnB Asset Management AS's holdings in Nordson were worth $2,773,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Hartford Investment Management Co. purchased a new position in Nordson in the 1st quarter worth $1,171,000. IFM Investors Pty Ltd grew its position in shares of Nordson by 17.2% during the 1st quarter. IFM Investors Pty Ltd now owns 8,195 shares of the industrial products company's stock valued at $1,861,000 after acquiring an additional 1,202 shares during the period. Bank of Montreal Can boosted its holdings in Nordson by 8.1% in the 1st quarter. Bank of Montreal Can now owns 30,540 shares of the industrial products company's stock worth $7,108,000 after buying an additional 2,289 shares during the last quarter. Addison Advisors LLC acquired a new stake in Nordson in the 1st quarter worth about $66,000. Finally, Laurel Wealth Advisors Inc. acquired a new stake in Nordson in the 4th quarter worth about $1,118,000. Institutional investors own 72.03% of the company's stock.
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Wall Street Analyst Weigh In
A number of research analysts have weighed in on NDSN shares. DA Davidson raised their target price on shares of Nordson from $265.00 to $270.00 in a research note on Tuesday, August 23rd. Morgan Stanley cut their target price on Nordson from $270.00 to $250.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 9th. StockNews.com upgraded shares of Nordson from a "hold" rating to a "buy" rating in a research note on Monday. Finally, Robert W. Baird boosted their price target on shares of Nordson from $232.00 to $271.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 24th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Nordson currently has an average rating of "Moderate Buy" and an average target price of $270.20.
Nordson Trading Down 1.1 %
Shares of NDSN opened at $221.63 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 0.19. The firm's 50-day moving average is $228.30 and its two-hundred day moving average is $219.61. Nordson Co. has a twelve month low of $194.89 and a twelve month high of $272.28. The firm has a market capitalization of $12.68 billion, a P/E ratio of 26.83, a PEG ratio of 1.85 and a beta of 0.95.
Nordson (NASDAQ:NDSN – Get Rating) last announced its earnings results on Monday, August 22nd. The industrial products company reported $2.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.44 by $0.05. The firm had revenue of $662.13 million for the quarter, compared to analyst estimates of $650.90 million. Nordson had a net margin of 19.25% and a return on equity of 23.66%. Nordson's revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.42 earnings per share. On average, research analysts predict that Nordson Co. will post 9.33 earnings per share for the current fiscal year.
Nordson Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This is a positive change from Nordson's previous quarterly dividend of $0.51. This represents a $2.60 annualized dividend and a dividend yield of 1.17%. Nordson's payout ratio is 31.48%.
Nordson Profile
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Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. It operates through two segments, Industrial Precision Solutions (IPS) and Advanced Technology Solutions (ATS).
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