Canada Pension Plan Investment Board Raises Stock Holdings in Nordson Co. (NASDAQ:NDSN)

Canada Pension Plan Investment Board raised its stake in Nordson Co. (NASDAQ:NDSN - Free Report) by 443.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,255 shares of the industrial products company's stock after purchasing an additional 5,103 shares during the quarter. Canada Pension Plan Investment Board's holdings in Nordson were worth $1,309,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Nordson by 10.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 514,557 shares of the industrial products company's stock worth $135,138,000 after acquiring an additional 48,720 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in Nordson in the fourth quarter worth $4,553,000. Principal Financial Group Inc. raised its stake in shares of 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 during the period. Southern Style Financial Inc. purchased a new position in shares of Nordson in the 4th quarter worth about $399,000. Finally, Clark & Stuart Inc purchased a new stake in Nordson during the fourth quarter worth about $4,137,000. Hedge funds and other institutional investors own 72.11% of the company's stock.

Analyst Ratings Changes

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

Nordson Price Performance

NASDAQ:NDSN traded up $0.01 during trading hours on Tuesday, hitting $188.71. 45,508 shares of the company's stock traded hands, compared to its average volume of 300,629. Nordson Co. has a 52 week low of $165.03 and a 52 week high of $279.38. The business's fifty day simple moving average is $197.55 and its two-hundred day simple moving average is $220.76. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 0.72. The firm has a market cap of $10.74 billion, a P/E ratio of 24.03, a P/E/G ratio of 1.65 and a beta of 0.96.

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). Nordson had a return on equity of 19.28% and a net margin of 16.93%. The company had revenue of $615.42 million during the quarter, compared to the consensus estimate of $639.40 million. On average, research analysts anticipate that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were given a dividend of $0.78 per share. The ex-dividend date was Thursday, March 20th. This represents a $3.12 dividend on an annualized basis and a yield of 1.65%. Nordson's payout ratio is 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.