Bank of New York Mellon Corp Has $101 Million Position in Nordson Corporation (NASDAQ:NDSN)

Bank of New York Mellon Corp reduced its holdings in Nordson Corporation (NASDAQ:NDSN - Free Report) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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. Vanguard Group Inc. raised its stake 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 purchasing an additional 93,146 shares in the last quarter. Lazard Asset Management LLC increased its holdings 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 worth $326,803,000 after buying an additional 47,052 shares during the last quarter. Geode Capital Management LLC raised 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 worth $303,918,000 after acquiring an additional 12,590 shares in the last quarter. Champlain Investment Partners LLC raised its position in Nordson by 2.9% during the fourth quarter. Champlain Investment Partners LLC now owns 860,430 shares of the industrial products company's stock worth $180,036,000 after acquiring an additional 24,030 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in Nordson by 0.7% in the fourth quarter. ProShare Advisors LLC now owns 761,233 shares of the industrial products company's stock valued at $159,280,000 after acquiring an additional 4,955 shares during the last quarter. Institutional investors and hedge funds own 72.11% of the company's stock.

Nordson Stock Performance

NASDAQ NDSN traded up $1.13 during trading on Thursday, reaching $223.17. The company's stock had a trading volume of 246,039 shares, compared to its average volume of 328,920. 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 Corporation has a 12 month low of $165.03 and a 12 month high of $266.86. The firm has a 50 day moving average price of $208.34 and a 200 day moving average price of $205.88. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 1.70 and a beta of 0.89.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its quarterly 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. 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.34 EPS. As a group, equities analysts anticipate that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th were paid a $0.78 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $3.12 annualized dividend and a dividend yield of 1.40%. Nordson's payout ratio is 40.10%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NDSN shares. Wall Street Zen cut Nordson from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Wolfe Research assumed coverage on shares of Nordson in a research report on Wednesday, June 18th. They issued a "peer perform" rating on the stock. Vertical Research started coverage on shares of Nordson in a research note on Tuesday, June 17th. They set a "hold" rating and a $245.00 target price for the company. 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. Finally, Robert W. Baird increased their price target on shares of Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a report on Friday, May 30th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $252.00.

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.