Nordson Corporation (NASDAQ:NDSN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in Nordson Corporation (NASDAQ:NDSN - Free Report) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 500,701 shares of the industrial products company's stock after selling 9,538 shares during the quarter. Bank of New York Mellon Corp owned 0.88% of Nordson worth $101,001,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Nordson by 2.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company's stock valued at $486,000 after purchasing an additional 67 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its holdings in Nordson by 1.6% during 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 increased its position in shares of Nordson by 6.6% during the first quarter. Portside Wealth Group LLC now owns 1,144 shares of the industrial products company's stock worth $239,000 after purchasing an additional 71 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Nordson by 5.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,829 shares of the industrial products company's stock worth $370,000 after purchasing an additional 87 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of Nordson by 86.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock worth $39,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 72.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NDSN shares. Oppenheimer raised Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 target price on the stock in a research report on Friday, May 30th. Wall Street Zen cut Nordson from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Wolfe Research began coverage on Nordson in a research report on Wednesday, June 18th. They set a "peer perform" rating on the stock. Robert W. Baird raised their target price on Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, May 30th. Finally, KeyCorp decreased their price target on shares of Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Six investment 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $252.00.

Nordson Price Performance

Nordson stock traded down $2.35 during midday trading on Friday, reaching $220.82. The company had a trading volume of 272,748 shares, compared to its average volume of 330,015. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.56 and a quick ratio of 1.64. The firm's fifty day simple moving average is $209.56 and its 200-day simple moving average is $206.03. Nordson Corporation has a 12-month low of $165.03 and a 12-month high of $266.86. The company has a market capitalization of $12.48 billion, a P/E ratio of 28.38, a P/E/G ratio of 1.72 and a beta of 0.89.

Nordson (NASDAQ:NDSN - Get Free Report) last released its earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share 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 business had revenue of $682.94 million for the quarter, compared to analyst estimates of $671.36 million. During the same period last year, the company posted $2.34 EPS. The business's revenue was up 5.0% on a year-over-year basis. As a group, equities analysts anticipate that Nordson Corporation will post 10.2 EPS for the current year.

Nordson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.41%. Nordson's dividend payout ratio is currently 40.10%.

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.