Bank of America Corp DE Sells 99,747 Shares of Nordson Co. (NASDAQ:NDSN)

Bank of America Corp DE trimmed its position in Nordson Co. (NASDAQ:NDSN - Free Report) by 41.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 139,840 shares of the industrial products company's stock after selling 99,747 shares during the quarter. Bank of America Corp DE owned 0.24% of Nordson worth $29,260,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BLI Banque de Luxembourg Investments bought a new position in Nordson in the 4th quarter valued at approximately $12,847,000. BNP Paribas Financial Markets grew its stake in shares of Nordson by 33.3% in the fourth quarter. BNP Paribas Financial Markets now owns 100,664 shares of the industrial products company's stock worth $21,063,000 after purchasing an additional 25,174 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Nordson by 6.8% in the fourth quarter. Ameriprise Financial Inc. now owns 111,954 shares of the industrial products company's stock valued at $23,415,000 after purchasing an additional 7,169 shares during the period. Ancora Advisors LLC raised its position in Nordson by 534.7% during the 4th quarter. Ancora Advisors LLC now owns 5,243 shares of the industrial products company's stock worth $1,097,000 after purchasing an additional 4,417 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co acquired a new position in Nordson during the 4th quarter worth about $209,000. 72.11% of the stock is currently owned by institutional investors.

Nordson Stock Down 1.0%

NASDAQ NDSN traded down $2.05 during mid-day trading on Tuesday, hitting $202.40. The company's stock had a trading volume of 194,286 shares, compared to its average volume of 303,002. The company's 50 day simple moving average is $192.92 and its 200 day simple moving average is $214.74. Nordson Co. has a twelve month low of $165.03 and a twelve month high of $266.86. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $11.52 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 1.65 and a beta of 0.90.

Nordson (NASDAQ:NDSN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.02). Nordson had a net margin of 16.93% and a return on equity of 19.28%. The business had revenue of $615.42 million during the quarter, compared to analyst estimates of $639.40 million. Analysts anticipate that Nordson Co. will post 10.2 earnings per share for the current year.

Nordson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.54%. The ex-dividend date was Thursday, March 20th. Nordson's dividend payout ratio (DPR) is presently 39.69%.

Analyst Ratings Changes

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

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.