Bessemer Group Inc. Has $97,000 Holdings in Nordson Corporation (NASDAQ:NDSN)

Bessemer Group Inc. cut its stake in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 89.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 480 shares of the industrial products company's stock after selling 4,075 shares during the period. Bessemer Group Inc.'s holdings in Nordson were worth $97,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in 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 lifted its position in shares of Nordson by 3.1% during the 4th 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 lifted its position in shares of Nordson by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,455,956 shares of the industrial products company's stock worth $303,918,000 after buying an additional 12,590 shares during the last quarter. Champlain Investment Partners LLC lifted its position in shares of Nordson by 2.9% during 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 during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Nordson by 0.7% during 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 currently owned by institutional investors and hedge funds.

Nordson Trading Down 1.8%

Shares of Nordson stock traded down $3.99 during mid-day trading on Monday, hitting $218.79. 228,154 shares of the stock were exchanged, compared to its average volume of 329,548. Nordson Corporation has a twelve month low of $165.03 and a twelve month high of $266.86. The stock has a market capitalization of $12.36 billion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 1.71 and a beta of 0.89. The company has a 50-day simple moving average of $207.04 and a 200 day simple moving average of $205.65. 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 posted its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. The company had revenue of $682.94 million for the quarter, compared to analyst estimates of $671.36 million. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The business's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.34 earnings per share. Research analysts forecast that Nordson Corporation will post 10.2 EPS for the current year.

Nordson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 19th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Wednesday, June 18th. Nordson's payout ratio is currently 40.10%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NDSN. Wall Street Zen cut shares of Nordson from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Vertical Research initiated coverage on shares of Nordson in a report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 price target for the company. 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. Oppenheimer raised shares of Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price objective on the stock in a research note on Friday, May 30th. Finally, KeyCorp lowered their price objective 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 issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Nordson currently has an average rating of "Moderate Buy" and an average target price 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.