63,121 Shares in Nordson Co. (NASDAQ:NDSN) Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. purchased a new stake in Nordson Co. (NASDAQ:NDSN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 63,121 shares of the industrial products company's stock, valued at approximately $13,207,000. Balyasny Asset Management L.P. owned about 0.11% of Nordson at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Strategic Financial Concepts LLC purchased a new position in Nordson during the fourth quarter worth $4,553,000. Principal Financial Group Inc. increased its position in Nordson by 4.7% during the 3rd quarter. Principal Financial Group Inc. now owns 295,962 shares of the industrial products company's stock worth $77,723,000 after purchasing an additional 13,184 shares in the last quarter. Southern Style Financial Inc. acquired a new position in Nordson in the 4th quarter valued at about $399,000. Clark & Stuart Inc purchased a new position in Nordson in the 4th quarter valued at about $4,137,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Nordson by 34.5% during the 4th quarter. Pacer Advisors Inc. now owns 8,895 shares of the industrial products company's stock worth $1,861,000 after purchasing an additional 2,282 shares during the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. KeyCorp decreased their target price on shares of Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. BNP Paribas cut Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 price objective on the stock. in a report on Monday, February 24th. Finally, Loop Capital upgraded Nordson from a "hold" rating to a "buy" rating and upped their target price for the company from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $250.20.

Nordson Trading Down 0.8 %

Shares of NDSN traded down $1.48 during trading hours on Friday, hitting $192.62. The stock had a trading volume of 251,359 shares, compared to its average volume of 305,065. Nordson Co. has a 12-month low of $165.03 and a 12-month high of $279.29. The firm has a market cap of $10.96 billion, a P/E ratio of 24.51, a P/E/G ratio of 1.65 and a beta of 0.90. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.53. The company's fifty day simple moving average is $193.77 and its 200 day simple moving average is $216.77.

Nordson (NASDAQ:NDSN - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.06 EPS for the quarter, missing analysts' consensus estimates of $2.08 by ($0.02). Nordson had a return on equity of 19.28% and a net margin of 16.93%. The firm had revenue of $615.42 million during the quarter, compared to analysts' expectations of $639.40 million. Equities research analysts forecast that Nordson Co. will post 10.2 EPS for the current fiscal year.

Nordson Dividend Announcement

The business 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 was Thursday, March 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.62%. Nordson's dividend payout ratio (DPR) is currently 39.69%.

Nordson Profile

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.