Cresset Asset Management LLC Boosts Stock Position in Nordson Corporation $NDSN

Key Points

• Cresset Asset Management LLC increased its stock position in Nordson Corporation by 3.8%, owning approximately 39,874 shares valued at $8,074,000 as of the most recent reporting period.
• Several institutional investors notably boosted their stakes in Nordson, with MassMutual Private Wealth & Trust FSB raising its holdings by 86.4% during the first quarter.
• Analyst ratings for Nordson vary, with a consensus of "Moderate Buy" and a target price averaging $254.86, following recent upgrades and downgrades from different financial institutions.

Cresset Asset Management LLC lifted its position in Nordson Corporation (NASDAQ:NDSN - Free Report) by 3.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,874 shares of the industrial products company's stock after buying an additional 1,475 shares during the quarter. Cresset Asset Management LLC owned approximately 0.07% of Nordson worth $8,074,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NDSN. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Nordson by 86.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock valued at $39,000 after buying an additional 89 shares during the period. Harbour Investments Inc. grew its stake in Nordson by 36.7% during the 1st quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock worth $41,000 after purchasing an additional 54 shares in the last quarter. National Pension Service grew its stake in Nordson by 74.8% during the 1st quarter. National Pension Service now owns 201 shares of the industrial products company's stock worth $41,000 after purchasing an additional 86 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in Nordson during the 4th quarter worth $62,000. Finally, CX Institutional acquired a new position in Nordson during the 1st quarter worth $67,000. Hedge funds and other institutional investors own 72.11% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. 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 Nordson in a research note on Wednesday, June 18th. They set a "peer perform" rating for the company. KeyCorp boosted their target price on Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Vertical Research assumed coverage on Nordson in a research note on Tuesday, June 17th. They set a "hold" rating and a $245.00 target price for the company. Finally, Oppenheimer raised Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 target price for the company in a research note on Friday, May 30th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Nordson presently has an average rating of "Moderate Buy" and a consensus price target of $254.86.

Nordson Trading Down 1.7%

NASDAQ:NDSN opened at $213.44 on Monday. The stock has a 50-day simple moving average of $216.68 and a 200-day simple moving average of $206.59. The stock has a market cap of $12.06 billion, a P/E ratio of 27.43, a P/E/G ratio of 1.64 and a beta of 0.89. Nordson Corporation has a 1 year low of $165.03 and a 1 year high of $266.86. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.56.

Nordson (NASDAQ:NDSN - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.06. The business had revenue of $682.94 million during the quarter, compared to analysts' expectations of $671.36 million. Nordson had a return on equity of 19.10% and a net margin of 16.51%. The business's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.34 EPS. As a group, analysts anticipate that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 19th were given a $0.78 dividend. 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 1.5%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.