Davis R M Inc. Sells 2,130 Shares of Nordson Corporation (NASDAQ:NDSN)

Key Points

• Davis R M Inc. reduced its stake in Nordson Corporation by 4.3% during the first quarter, now owning 47,836 shares valued at approximately $9.65 million.
• Nordson reported earnings of $2.42 per share for the recent quarter, surpassing the expectations of $2.36, with revenue increasing by 5.0% year-over-year.
• The company has announced a quarterly dividend of $0.78 per share, representing a 1.45% yield with a payout ratio of 40.10%.

Davis R M Inc. lessened its holdings in Nordson Corporation (NASDAQ:NDSN - Free Report) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,836 shares of the industrial products company's stock after selling 2,130 shares during the quarter. Davis R M Inc. owned 0.08% of Nordson worth $9,650,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Nordson by 2.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company's stock worth $486,000 after purchasing an additional 67 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in shares of Nordson by 18.7% in the 1st quarter. DAVENPORT & Co LLC now owns 2,653 shares of the industrial products company's stock worth $535,000 after purchasing an additional 418 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Nordson by 1.2% in the 1st quarter. Amalgamated Bank now owns 10,672 shares of the industrial products company's stock worth $2,153,000 after purchasing an additional 127 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Nordson in the 1st quarter worth about $1,599,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Nordson by 6.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,862 shares of the industrial products company's stock worth $981,000 after acquiring an additional 283 shares during the last quarter. Institutional investors own 72.11% of the company's stock.

Nordson Stock Down 2.3%

NDSN stock traded down $4.96 during mid-day trading on Friday, hitting $209.25. 422,072 shares of the company were exchanged, compared to its average volume of 299,359. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.56. The firm has a market cap of $11.82 billion, a P/E ratio of 26.90, a P/E/G ratio of 1.61 and a beta of 0.89. The firm's 50 day simple moving average is $215.38 and its 200 day simple moving average is $207.02. Nordson Corporation has a 1-year low of $165.03 and a 1-year high of $266.86.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its earnings results on Wednesday, May 28th. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.36 by $0.06. The firm had revenue of $682.94 million for 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 business's quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the company posted $2.34 EPS. On average, sell-side analysts predict that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th were issued a $0.78 dividend. The ex-dividend date 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 (DPR) is 40.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wall Street Zen lowered shares of Nordson from a "buy" rating to a "hold" rating in a report on Friday, June 27th. KeyCorp increased their price objective on shares of Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Wolfe Research assumed coverage on shares of Nordson in a report on Wednesday, June 18th. They set a "peer perform" rating on the stock. 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 report on Friday, May 30th. Finally, Vertical Research assumed coverage on shares of Nordson in a research note on Tuesday, June 17th. They issued a "hold" rating and a $245.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Nordson currently has an average rating of "Moderate Buy" and a consensus price target of $254.86.

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.