Envestnet Asset Management Inc. increased its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 31.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,086 shares of the industrial products company’s stock after purchasing an additional 8,868 shares during the period. Envestnet Asset Management Inc. owned approximately 0.06% of Nordson worth $4,397,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in shares of Nordson by 1.5% in the second quarter. IFP Advisors Inc now owns 1,410 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 21 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Nordson by 2.3% during the second quarter. D.A. Davidson & CO. now owns 974 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 22 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Nordson by 1.8% during the second quarter. Teacher Retirement System of Texas now owns 4,156 shares of the industrial products company’s stock valued at $504,000 after acquiring an additional 72 shares during the last quarter. State of Wisconsin Investment Board increased its position in shares of Nordson by 0.8% during the second quarter. State of Wisconsin Investment Board now owns 11,495 shares of the industrial products company’s stock valued at $1,395,000 after acquiring an additional 90 shares during the last quarter. Finally, Utah Retirement Systems increased its position in shares of Nordson by 1.0% during the second quarter. Utah Retirement Systems now owns 10,512 shares of the industrial products company’s stock valued at $1,275,000 after acquiring an additional 100 shares during the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.
NDSN has been the subject of a number of research analyst reports. FBR & Co set a $160.00 price target on Nordson and gave the company a “buy” rating in a research report on Monday, September 11th. Zacks Investment Research raised Nordson from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Longbow Research raised Nordson from a “neutral” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Wednesday, September 20th. Robert W. Baird reiterated a “hold” rating and issued a $138.00 price target on shares of Nordson in a research report on Wednesday, October 4th. Finally, KeyCorp reiterated a “buy” rating and issued a $145.00 price target on shares of Nordson in a research report on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $145.40.
In other news, VP Robert E. Veillette sold 1,594 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $142.19, for a total value of $226,650.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.15% of the company’s stock.
Shares of Nordson Co. (NASDAQ:NDSN) traded up $1.02 during trading hours on Tuesday, reaching $147.42. The company had a trading volume of 266,265 shares, compared to its average volume of 235,400. Nordson Co. has a 52 week low of $107.16 and a 52 week high of $150.48. The stock has a market cap of $8,560.00, a P/E ratio of 29.31, a PEG ratio of 1.59 and a beta of 1.39. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.96 and a current ratio of 1.37.
Nordson (NASDAQ:NDSN) last posted its earnings results on Wednesday, December 13th. The industrial products company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.05. Nordson had a return on equity of 30.54% and a net margin of 14.31%. The firm had revenue of $574.00 million for the quarter, compared to the consensus estimate of $546.76 million. During the same quarter in the prior year, the business earned $1.39 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. equities research analysts anticipate that Nordson Co. will post 6.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Tuesday, December 19th will be given a $0.30 dividend. The ex-dividend date is Monday, December 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.81%. Nordson’s dividend payout ratio is currently 23.86%.
Nordson Company Profile
Nordson Corporation engineers, manufactures and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. The Company’s segments include Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems.
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