Asset Management One Co. Ltd. Decreases Holdings in Nordson Corporation (NASDAQ:NDSN)

Asset Management One Co. Ltd. reduced its position in Nordson Corporation (NASDAQ:NDSN - Free Report) by 40.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,340 shares of the industrial products company's stock after selling 16,863 shares during the period. Asset Management One Co. Ltd.'s holdings in Nordson were worth $4,910,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NDSN. Norges Bank purchased a new position in Nordson in the 4th quarter valued at about $142,670,000. Raymond James Financial Inc. purchased a new position in Nordson in the 4th quarter valued at about $74,005,000. First Trust Advisors LP boosted its position in Nordson by 676.5% in the 4th quarter. First Trust Advisors LP now owns 246,317 shares of the industrial products company's stock valued at $51,539,000 after buying an additional 214,594 shares during the last quarter. GAMMA Investing LLC boosted its position in Nordson by 19,089.3% in the 1st quarter. GAMMA Investing LLC now owns 141,809 shares of the industrial products company's stock valued at $28,606,000 after buying an additional 141,070 shares during the last quarter. Finally, FMR LLC boosted its position in Nordson by 19.2% in the 4th quarter. FMR LLC now owns 693,627 shares of the industrial products company's stock valued at $145,135,000 after buying an additional 111,538 shares during the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

Nordson Stock Performance

Shares of NASDAQ NDSN opened at $215.12 on Friday. The company has a quick ratio of 1.64, a current ratio of 2.56 and a debt-to-equity ratio of 0.72. The firm's 50-day moving average price is $202.82 and its two-hundred day moving average price is $205.71. Nordson Corporation has a 52-week low of $165.03 and a 52-week high of $266.86. The stock has a market capitalization of $12.16 billion, a P/E ratio of 27.65, a P/E/G ratio of 1.65 and a beta of 0.89.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.06. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The firm had revenue of $682.94 million for the quarter, compared to analysts' expectations of $671.36 million. During the same quarter last year, the company posted $2.34 earnings per share. Nordson's revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts forecast that Nordson Corporation will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $3.12 dividend on an annualized basis and a yield of 1.45%. Nordson's dividend payout ratio is currently 40.10%.

Analyst Upgrades and Downgrades

NDSN has been the subject of a number of analyst reports. Wolfe Research initiated coverage on shares of Nordson in a research report on Wednesday, June 18th. They issued a "peer perform" rating for the company. Oppenheimer raised shares of Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price target on the stock in a research report on Friday, May 30th. KeyCorp reduced their price target 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. Robert W. Baird increased their price target on shares of Nordson from $241.00 to $245.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. Finally, Wall Street Zen cut shares of Nordson from a "buy" rating to a "hold" rating in a research report on Friday. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $252.00.

Nordson Company 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.

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