Bridgefront Capital LLC Takes $1.17 Million Position in Nordson Co. (NASDAQ:NDSN)

Bridgefront Capital LLC purchased a new stake in shares of Nordson Co. (NASDAQ:NDSN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,567 shares of the industrial products company's stock, valued at approximately $1,165,000.

A number of other institutional investors have also made changes to their positions in the business. UMB Bank n.a. boosted its position in shares of Nordson by 26.1% in the fourth quarter. UMB Bank n.a. now owns 251 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 52 shares during the period. Tortoise Investment Management LLC lifted its position in shares of Nordson by 73.7% in the 4th quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company's stock worth $57,000 after acquiring an additional 115 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Nordson during the 4th quarter worth approximately $62,000. Brooklyn Investment Group increased its position in shares of Nordson by 695.0% during the fourth quarter. Brooklyn Investment Group now owns 318 shares of the industrial products company's stock valued at $67,000 after purchasing an additional 278 shares during the period. Finally, Canada Post Corp Registered Pension Plan acquired a new position in shares of Nordson in the fourth quarter valued at $92,000. 72.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Loop Capital raised shares of Nordson from a "hold" rating to a "buy" rating and boosted their price target for the company from $255.00 to $280.00 in a report on Wednesday, January 22nd. KeyCorp lowered their target price on shares of Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, BNP Paribas cut shares of Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 price target for the company. in a research note on Monday, February 24th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Nordson has an average rating of "Moderate Buy" and an average target price of $250.20.

Nordson Price Performance

Shares of Nordson stock traded up $4.81 during mid-day trading on Thursday, reaching $194.10. 277,064 shares of the stock were exchanged, compared to its average volume of 305,501. Nordson Co. has a fifty-two week low of $165.03 and a fifty-two week high of $279.38. The company has a market cap of $11.05 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 1.65 and a beta of 0.90. The firm has a 50-day simple moving average of $194.05 and a 200 day simple moving average of $217.62. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72.

Nordson (NASDAQ:NDSN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.02). The firm had revenue of $615.42 million for the quarter, compared to analyst estimates of $639.40 million. Nordson had a return on equity of 19.28% and a net margin of 16.93%. On average, sell-side analysts predict that Nordson Co. will post 10.2 EPS for the current fiscal year.

Nordson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were paid a $0.78 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.61%. Nordson's dividend payout ratio (DPR) is presently 39.69%.

About Nordson

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 three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.