Cornerstone Wealth Management LLC Acquires 1,608 Shares of Nordson Corporation (NASDAQ:NDSN)

Cornerstone Wealth Management LLC raised its stake in Nordson Corporation (NASDAQ:NDSN - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,795 shares of the industrial products company's stock after acquiring an additional 1,608 shares during the quarter. Cornerstone Wealth Management LLC's holdings in Nordson were worth $3,590,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in NDSN. MassMutual Private Wealth & Trust FSB raised its position in Nordson by 86.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 89 shares in the last quarter. Tortoise Investment Management LLC increased its stake in shares of Nordson by 73.7% in the 4th quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company's stock valued at $57,000 after purchasing an additional 115 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Nordson during the 4th quarter worth $62,000. CX Institutional bought a new stake in shares of Nordson during the 1st quarter worth $67,000. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in Nordson in the fourth quarter valued at about $92,000. Institutional investors own 72.11% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Robert W. Baird upped their price target on shares of Nordson from $241.00 to $245.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. Oppenheimer upgraded Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price objective on the stock in a research report on Friday, May 30th. Wolfe Research assumed coverage on Nordson in a report on Wednesday. They issued a "peer perform" rating for the company. Vertical Research assumed coverage on Nordson in a research note on Tuesday. They set a "hold" rating and a $245.00 price target on the stock. Finally, Wall Street Zen raised Nordson from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $252.00.

Nordson Trading Down 0.3%

NASDAQ:NDSN traded down $0.59 on Wednesday, reaching $213.53. 483,031 shares of the stock traded hands, compared to its average volume of 318,452. 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 1-year low of $165.03 and a 1-year high of $266.86. The company's 50 day moving average is $197.98 and its 200-day moving average is $208.03. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 1.68 and a beta of 0.89.

Nordson (NASDAQ:NDSN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 EPS for the quarter, beating 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 company had revenue of $682.94 million for the quarter, compared to analyst estimates of $671.36 million. The company's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.34 EPS. Equities research analysts anticipate that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Wednesday, June 18th. Nordson's dividend payout ratio is 40.10%.

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.