Asset Management One Co. Ltd. Cuts Position in Nordson Corporation (NASDAQ:NDSN)

Asset Management One Co. Ltd. trimmed its holdings in Nordson Corporation (NASDAQ:NDSN - Free Report) by 40.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,340 shares of the industrial products company's stock after selling 16,863 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Nordson were worth $4,910,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NDSN. Vanguard Group Inc. raised its holdings in shares of Nordson by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 6,226,757 shares of the industrial products company's stock worth $1,302,887,000 after acquiring an additional 93,146 shares in the last quarter. Lazard Asset Management LLC raised its stake in Nordson by 3.1% during the fourth quarter. Lazard Asset Management LLC now owns 1,561,866 shares of the industrial products company's stock valued at $326,803,000 after purchasing an additional 47,052 shares in the last quarter. Geode Capital Management LLC lifted its position in Nordson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,455,956 shares of the industrial products company's stock valued at $303,918,000 after purchasing an additional 12,590 shares during the last quarter. Champlain Investment Partners LLC grew its stake in shares of Nordson by 2.9% in the 4th quarter. Champlain Investment Partners LLC now owns 860,430 shares of the industrial products company's stock worth $180,036,000 after buying an additional 24,030 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Nordson by 0.7% in the 4th quarter. ProShare Advisors LLC now owns 761,233 shares of the industrial products company's stock worth $159,280,000 after buying an additional 4,955 shares during the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

Nordson Trading Up 0.7%

Shares of NASDAQ NDSN traded up $1.59 during trading hours on Wednesday, reaching $222.07. The stock had a trading volume of 161,687 shares, compared to its average volume of 327,875. Nordson Corporation has a 52-week low of $165.03 and a 52-week high of $266.86. The firm has a market cap of $12.55 billion, a price-to-earnings ratio of 28.59, a P/E/G ratio of 1.65 and a beta of 0.89. The business's fifty day moving average price is $204.32 and its two-hundred day moving average price is $205.56. The company has a current ratio of 2.56, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72.

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 for the quarter, topping the consensus estimate of $2.36 by $0.06. The business had revenue of $682.94 million during the quarter, compared to analysts' expectations of $671.36 million. Nordson had a return on equity of 19.10% and a net margin of 16.51%. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.34 EPS. Analysts expect that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Dividend Announcement

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 given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Wednesday, June 18th. Nordson's dividend payout ratio (DPR) is 40.10%.

Wall Street Analysts Forecast Growth

NDSN has been the subject of several recent research reports. KeyCorp dropped their price target on Nordson from $260.00 to $230.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Robert W. Baird raised their price objective on Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a research note on Friday, May 30th. Vertical Research began coverage on Nordson in a report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 target price for the company. Wall Street Zen lowered Nordson from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Oppenheimer raised shares of Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price objective for the company in a research note on Friday, May 30th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $252.00.

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.