Allianz Asset Management GmbH Sells 1,449 Shares of Nordson Corporation (NASDAQ:NDSN)

Key Points

• Allianz Asset Management GmbH reduced its stake in Nordson Corporation by 36.9%, selling 1,449 shares to hold a total of 2,481 shares worth approximately $500,000.
• Nordson's stock has a consensus rating of "Moderate Buy" and a target price of $254.86, with several analysts providing varied ratings and price objectives.
• Recently, Nordson declared a quarterly dividend of $0.78 per share, resulting in an annualized dividend yield of 1.5%.

Allianz Asset Management GmbH trimmed its holdings in Nordson Corporation (NASDAQ:NDSN - Free Report) by 36.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,481 shares of the industrial products company's stock after selling 1,449 shares during the quarter. Allianz Asset Management GmbH's holdings in Nordson were worth $500,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Nordson by 2.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company's stock worth $486,000 after purchasing an additional 67 shares during the period. Allworth Financial LP lifted its holdings in Nordson by 0.6% in the first quarter. Allworth Financial LP now owns 11,327 shares of the industrial products company's stock worth $2,146,000 after buying an additional 69 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its holdings in Nordson by 1.6% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 4,381 shares of the industrial products company's stock worth $884,000 after buying an additional 71 shares during the period. Portside Wealth Group LLC lifted its holdings in Nordson by 6.6% in the first quarter. Portside Wealth Group LLC now owns 1,144 shares of the industrial products company's stock worth $239,000 after buying an additional 71 shares during the period. Finally, Isthmus Partners LLC lifted its holdings in Nordson by 6.1% in the first quarter. Isthmus Partners LLC now owns 1,464 shares of the industrial products company's stock worth $295,000 after buying an additional 84 shares during the period. 72.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on NDSN. Vertical Research began coverage on shares of Nordson in a report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 price objective for the company. Wall Street Zen lowered shares of Nordson from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Robert W. Baird raised their price objective on shares of Nordson from $241.00 to $245.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. KeyCorp raised their price objective on shares of Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, Wolfe Research began coverage on shares of Nordson in a research note on Wednesday, June 18th. They set a "peer perform" rating for the company. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Nordson has a consensus rating of "Moderate Buy" and a consensus target price of $254.86.

Nordson Price Performance

Shares of NASDAQ NDSN opened at $209.25 on Friday. Nordson Corporation has a fifty-two week low of $165.03 and a fifty-two week high of $266.86. The company has a 50 day simple moving average of $215.38 and a two-hundred day simple moving average of $207.02. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 1.61 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.56.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.06. The company had revenue of $682.94 million during the quarter, compared to the consensus estimate of $671.36 million. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.34 earnings per share. Analysts expect that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 19th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. Nordson's dividend payout ratio (DPR) is 40.10%.

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.

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